Putting house in daughters name.

[burgerking]

Hello,

             Looking for advice regarding my situation. Background  is as follows, been with the same woman for the past 21 years, we have a 17 year old daughter together, daughter has my surname on her passport and Thai id card.

Now this is where i need some solid advise, we have just bought a house and the transfer is due to take place on Monday, the wife has suggested to put the house in our daughters name as she will eventually get it anyway. Is it as easy as my daughter going to the transfer office with the wife and the present owners of the house and for my daughter to show up with her Thai id card and have it transferred into her name, or am i missing something. I know the laws regarding her not been able to sell it or take a loan against it until she turns 20, just looking for concrete facts on the transfer process from people who have been down this road.  The house  we have bought is in Bangkok where we currently live. Both of them are currently registered in my house registration book (condo in Pattaya) if that makes any difference.

 

Thanks

[nabbie]

Hi, I dont mind sharing my personal experience that my daughter's name is on her own property successfully a couple of years ago - transfer from comapny's name to her.  I would recommend the lawyer to avoid the misunderstanding and to ensure all the necessary papers should go smoothly. Good honest dialogues with Thai Land officer is also important. The cost of the transfer Company to Individual is not cheap (but if from Individual to Individual, then less costly, I think).  Of course it will depend on the value of the property. Luckily, I have managed to find good website that might be some interests to you. http://www.acuterealty.com/calculator.asp Hope you can find some figure facts there. Good luck!   

[wallybee]

8 minutes ago, nabbie said:

Hi, I dont mind sharing my personal experience that my daughter's name is on her own property successfully a couple of years ago - transfer from comapny's name to her.  I would recommend the lawyer to avoid the misunderstanding and to ensure all the necessary papers should go smoothly. Good honest dialogues with Thai Land officer is also important. The cost of the transfer Company to Individual is not cheap (but if from Individual to Individual, then less costly, I think).  Of course it will depend on the value of the property. Luckily, I have managed to find good website that might be some interests to you. http://www.acuterealty.com/calculator.asp Hope you can find some figure facts there. Good luck!   

Would recommend that you cover yourself by a usufruct agreement for yourself/your wife ( longest living) to avoid finding yourself on the street

[nabbie]

We don't use that - as long as we know whose Thai name/company name is on the deed from the current property to another new one. 

[jackdd]

4 hours ago, nabbie said:

We don't use that - as long as we know whose Thai name/company name is on the deed from the current property to another new one. 

He means that he or his wife should get a usufruct for "the daughters" house, in case the daughter makes stupid decisions in her life.

[khunPer]

4 hours ago, wallybee said:

Would recommend that you cover yourself by a usufruct agreement for yourself/your wife ( longest living) to avoid finding yourself on the street

Agree, and do it at the same time – or before – the transfer, as it might be difficult after, when land-owner is a minor.

 

The minor, your 17-year old daughter, will need a legal guardian to sign for her, for example a parent, or both parents. Normally when transferring property at the Land Office, seller of land pays the tax, and buyer pays the transfer fees and stamps. 

 

A check with a lawyer is always recommendable, but otherwise a usufract agreement is a simple form and registered at Land Office for a small fee around 100 baht.

 

Link to Usufract information at SamuiForSale.

Link to Usufract servitude (agreement).

[baansgr]

Thailand varies province to province.  Prachuap used to be,  land would  be purchased by Thai parent and then land gifted to the child, so an extra 0.5% charged as in effect 2 transfers. Children couldn't  directly purchase property. However a few years ago and everything can be totally different at another  land office. 

[tubber]

5 hours ago, wallybee said:

Would recommend that you cover yourself by a usufruct agreement for yourself/your wife ( longest living) to avoid finding yourself on the street

The house where I stay is split between my eldest daughter and my son. I was told by a lawyer, they were a Forum Sponsor, that it was not possible to get a Usufruct agreement.

[nabbie]

59 minutes ago, jackdd said:

He means that he or his wife should get a usufruct for "the daughters" house, in case the daughter makes stupid decisions in her life.

 

An usufruct had not gotten our attention at that time but at least we do keep the original deed for protecting our daughter's future. Although, an usufruct may be good practice or transferring to company's name instead.  

[BEVUP]

Ok breased through these replies 

 

1 - You will no doubt being buying the property outright if you plan to put it in your Daughters name

      BIG MISTAKE

2 - Do not believe everything you read or hear about a Usufrut = The owner of such property can do what they like with it & leave you as a Squatter 

3 - Most Thai people will put it 50/50 in the Mothers & childs' name to avoid any problems (Just like my wife did ) to my surprise at the land office with me standing there & having to sign that stupid Sin Maros // ect

[jackdd]

12 hours ago, nabbie said:

but at least we do keep the original deed for protecting our daughter's future

Keeping the deed doesn't help, she could just report it missing and get a new one.

It might help if she doesn't even know that she owns it.

But if for example she signs for the finance of her boyfriend's (or let's say husband's) car and the boyfriend stops paying, then this also would not help, the bank would try to take the house unless she can pay them.

[nabbie]

5 hours ago, jackdd said:

Keeping the deed doesn't help, she could just report it missing and get a new one.

It might help if she doesn't even know that she owns it.

But if for example she signs for the finance of her boyfriend's (or let's say husband's) car and the boyfriend stops paying, then this also would not help, the bank would try to take the house unless she can pay them.

Appreciate your point and the deed must be kept safely till she will reach 20. In fact, I am more than happy to let her to make the decision whenever she like. That is how it regulates under Thai law.     

[Cricky]

Who's name would the transfer be in before the daughter option was thrown out there? 

[cracker1]

Hi burgerking

If I was you and wanting to transfer ownership of your property to your daughter, and worried she may sell quickly, I would register your interest, perhaps by way of a mortgage (about 50% more than it's market value) at the local Land Office.

This will show on the Chanote and any prospective buyer will need to pay the residual mortgage before gaining possession.

Your investment will then have some protection.

PS, If you do this then each year you should go to the Land Office and check the title has not been changed