How To Protect My Ownership.

[zzz9]

hi all,

Just a general question.

Is it possible to take a loan in Thailand without put the house Chanote for garantee?

I mean:

I have a biz and it makes money and have a bank account with in/out

at least 6 months (as all the banks require).

I want to make the loan for buy car and make the garentee on the car itself without the house.

The main problem is that my wife will take the loan on her name,and the house have this lease contract I did (30 years) so its locked for loans ,right?so it may be a problem for the bank (I afraid they will refuse unless I will take off my lease contract from the land office and realease the house to be only on my wife's name..).

Any advices how to pass it and protect my ownership will be wellcome.

[thaigene2]

You sure the lease 'locks' it or prevents it from loan collatoral?

I can't really see why. The bank would take the house with a sitting tenant that's all. But you may be right they are very sticky right now with loans - especially when a foreigner is involved (in any way).

Check if you haven't already done so. Also, my experience was that Thai banks usually don't lend money for auto purchase. I assume the car would be in your wife's name? Good luck.

[zzz9]

I still didnt do it I just prepare for this if they will want so ..

(and they have a point..as its locked by me and the chanote will be uselss for them.. as they cant take it only in about 30 years..).

The car will be on my name..no reason on my wifes name I have tabian ban.. (unless the bank will want to put the car as garentee and will no have problem to put it on my wife;s name..its just a car.. ).

advices r more then wellcome.

[GuestHouse]

My wife and I bought a beautiful plot of land at a knock down price when the owner failed to make payments for a car he bought on a loan secured with his Chanote.

My advice would be buy a car you can afford, an old banger if necessary, but don't borrow money to buy a car against property.

Our beautiful land and house is paid for. Our ten year old car is paid for.

Cars on the never never are a really silly idea.

Some guy looking down at me sitting in my old Toyota from a car he doesn't own which he parks on a drive that is nolonger fully his - Who looks smart?

Who is smart?

[zzz9]

You have some point in what u r saying ..I will consider it also.

But its a loan that I can easily pay back in payment but not in 1 time cash.

I dont know u probebly right..

[SiriusBlack1]

My wife and I bought a beautiful plot of land at a knock down price when the owner failed to make payments for a car he bought on a loan secured with his Chanote.

GuestHouse, at the risk of straying from the topic a little bit, can you give me any more information on that transaction?

My wife and I will be looking to buy some land in about six months' time and I'm hoping to find similarly "motivated sellers." Grateful for any insights.