
Delight
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To answer some of your points. Company to Company. I suspect that you mean acquiring a property that is already in company. This is a very low cost transaction. The current foreign controller of the existing company can only sell that which he/she owns-the share allocation and 100% of the voting rights. These will be sold for the price of the house/land. After the money is in the sellers bank account ,the he /she has to sign may papers. All these events will take place in a lawyers/accountants. The last thing to do is pay the lawyer /accountant. In my view an accountant is better and cheaper. cost about 10,000 Baht. The land office is not involved with this style of transaction. Transferring ownership from Thai to another Thai will involve the land office and fairly high fees will be involved. Remember a foreigner cannot own the land which the house is sitting on-hence the use of the company work around. Witch ever way you proceed an Chanote -land title deed -will be involved. Typically this deed can be retained by the bank as security. The decision to lend by the bank will be a consequence of the bank's view that you can service and pay back the loan-or not. If the company route is used and you default a court will probably rule that the bank takes the company. I not not a lawyer . If the bank cannot do this then maybe they will not lend. Easier for the bank if the property is in a Thai name. However this can be complicated if the land office realizes that you are paying for everything You really need to speak to a bank manager.
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Recently my wife's Aunt transferred her land to her niece(i.e. my wife) Technical. Land size 863m .About 30 kilometers west of Korat. Area is farming and up market housing. The Aunt got the transfer free from her grandmother who in turn got it free from her grandmother. The land originally was simply acquired before the days of land offices etc. At some point in the past a Chanote was issued. I agreed to pay the transfer charges. The family guessed that the charges would be about 20,000 Baht. I thought the charges would be closer to 80,000 Baht. My calculation was derived from info which appears on the net. In the event for the transfer plus a Usufruct was just shy of 3000 Baht. My question: Why were these charges so low?
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Thanks your reply was perfect!
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There is a legal device called a 'usufruct' Can anybody detail the actual word in Thai language. Thai script -if possible-would be preferred. Thanks.
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My wife's Aunt is in trouble. She took out a loan from a Thai bank -many years ago-to be used for a business venture. The Aunt's land(chanote) was used as collateral This venture failed. The bank is going to foreclose . All family parties are happy that I (1) Settle with the bank . (2) Then Transfer the Chanote to my wife's name. (3) Organise a Usufruct to protect the Aunt. I hear that it is problematic to use Farang money for this process. Can anybody detail the potential problems and further recommend a solution -outlining any further costs that I may have to bear.
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Lazada Returns -It appears that the rules are getting stricter
Delight replied to Delight's topic in General Topics
Is that stated on their website. If so perhaps you could guide me to it? -
I received a pair of shoes -from Lazada. Opened the package -decided that I did not like them . i did not wear them -simply photographed them and proceeded to make a return . The advert said 'Change of mind and 7 day return' My claim and protest were rejected. Why? Because I had opened the package. Q . Do the readers of this post remember a time when this limitation did not exist? Please let me know-I am curious
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AGM: What if budget is not approved?
Delight replied to lkn's topic in Real Estate, Housing, House and Land Ownership
It is the role of the JPM to submit the budget-not the committee. The procedure which you describe i.e. hold an EGM is the only procedure available. Clearly this can be held only after discussion with the 'nay sayers'. Budgets typically through without objections. -
Here we go again BHT getting stronger
Delight replied to parafareno's topic in Jobs, Economy, Banking, Business, Investments
Suspect that the Thai government has instigated this move. Their motive -keep imports of oil as cheap as possible -i .e .keep the Thai subjects happy. If so it is a reasonable move. Obviously Thai exports may suffer. -
Aussie Dollar vs Thai Baht
Delight replied to steevjee's topic in Jobs, Economy, Banking, Business, Investments
Correct. Keep the cost of oil stable. -
You are correct. Increasing the Common Fee is just about impossible. The solution -special assessment(SA). In the building where I live this option has been adopted twice. 1st for a sinking fund -the 2nd for general expenditure. It can only happen at an AGM or an EGM. A simple majority vote is required at a legally convened general meeting. That is it. In my building these SA's have a life span of 3 years. After which they have to be renewed. Very simple. Without them the building where I live would be in serious trouble
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Condo Electricity
Delight replied to Mr Frank's topic in Real Estate, Housing, House and Land Ownership
Who is legally responsible for paying the electricity bill in your condo The co owner or if appropriate the tenant? -
Condo Electricity
Delight replied to Mr Frank's topic in Real Estate, Housing, House and Land Ownership
The name on the bill will always be the co -owner. If the tenant does not pay -for any reason. Then the co -owner has to pay. Management should advise the co -owner of his/her responsibilities. -
Wise -in the regular 'Transfer' way-is not a bank.
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Can she live in Thailand legally ?
Delight posted a topic in Thai Visas, Residency, and Work Permits
Farang female marries a Thai man. They have 4 children -all Thai nationals. The husband abandons his wife and family. He leaves Thailand. She is still under 50 Q how can she legally live and work in Thailand? -
Marriage extension using Pension
Delight replied to fulhamster's topic in Thai Visas, Residency, and Work Permits
If this is OK with Swedish Embassy-probably not available from British embassy. Income support letters for retirement visa extension are not available from British embassy. It used to be! Certain countries still issue such letters in Thailand. For certain the British and American (and others) embassies do not.