Would a condo de facto become property of wife after purchase?

[Number 6]

Due to the fact that assets in Thailand are split (correct?) upon divorce;

does a condo de facto become half property of wife after purchase?

 

I'm just educating myself, please refrain from rabid comments about my wife of nearly ten years. She will get everything I have upon my death, thank you for your concerns.

 

 

 

[BritManToo]

It would depend on the money trail.

If you had a copy of the bank document detailing importing money for condo purchase, then probably not.

But on the other hand, you say you have been married for 10 years, and any money earned in that time would be considered joint property, so you would also need to prove the money you imported was earned before your marriage.

If you had listed all your existing assets when you married at the Amphur office, it wouldn't have been a problem, but I'm guessing you didn't. Too late now.

 

If you're worried, probably best not to buy.

Edited July 21, 2018 by BritManToo

[Peterw42]

If you had the condo, or the money used to buy it, prior to marriage then its not a asset jointly acquired during marriage and not subject to split marital assets. if its 11 years of savings from the joint account that buys the condo then its a joint marital asset and would be split. The basic rule is you keep what you had prior (money or what you bought with that money) and split what you acquired during

[Number 6]

Thanks, should have been more clear. It would be money brought in from states that arguing if I had to was made prior to marriage at least made from US investing which she had no hand in and holds only B1 not residence visa never having lived in US - nor have I since we had met (actually 10+ years before that).

 

Just a friendly question, not expecting legal advice. Thank you for your Swift replies.

 

Our relationship is as good as it has ever been, just looking at the issues.

Edited July 21, 2018 by Number 6

[Langsuan Man]

If the condo is in your "foreign" name she cannot inherit it unless she is willing to give up the "foreign" quota assigned to the condo or, the better option,  sell it to a foreigner (withing a year) and buy another less expensive one as a Thai

 

Once the condo Chanote is issued in your name the source of funds for it no longer enters into the equation, it was either obtained before or after the marriage.  That is the only criteria for community property , before NO, after YES 

[Number 6]

10 hours ago, Langsuan Man said:

If the condo is in your "foreign" name she cannot inherit it unless she is willing to give up the "foreign" quota assigned to the condo or, the better option,  sell it to a foreigner (withing a year) and buy another less expensive one as a Thai

 

Once the condo Chanote is issued in your name the source of funds for it no longer enters into the equation, it was either obtained before or after the marriage.  That is the only criteria for community property , before NO, after YES 

Thanks. All this is very good to know. It would be nice if she could hold the foreign designation, I assume it's something I may need to pay a bit more for to someone. It's not a non starter. Still, I think when I'm gone all her siblings will share the common family house. My condo could be rent or sold and reinvested for income.

 

Appreciated (everyone)

[inThailand]

If purchased while married she gets half of all your assets. It doesn't matter that it's in your name or a foreigner freehold title. She will simply sell it or convert to a Thai title deed within a year. 

[dotpoom]

What is a "condo-de-facto"?

[Jonmarleesco]

Condo de facto? What's the matter with condo? 

[khunPer]

18 hours ago, Langsuan Man said:

Once the condo Chanote is issued in your name the source of funds for it no longer enters into the equation, it was either obtained before or after the marriage.  That is the only criteria for community property , before NO, after YES 

Agree, that's also my impression from what I read in the book Thai Law for Foreigners.

[goegoe]

Whatever tells the law and people here, if a judge decides that you must share with your wife, you will have to share.

The law here is the judge.

 

 

[Biker Boy]

Off your point, but might be interesting to some of the readers of this stream. I am in the midst of a marriage split and the property question arises for a townhome. By law a foreigner can not own land. However, if the property was purchased prior to marriage registration the supreme court has found that if co-ownership criteria can be met, the foreigner can qualify for half the asset value of the home. 

I talked to a lot of  high end lawyers targeting foreigners  in Thailand and all told me  I  was screwed because I was married. One main stream Thai lawyer recommended filing a property suite. It took me quite a while to figure out what that meant, because I was wrapped around the idea of marriage and divorce. Finally, after many questions and much study, I clarified the point of co-ownership possibly existing between a couple who bought the home before marriage.