Land Lease

[jimbeam1]

Hi folks.

Can anyone help. I am thinking of buying a property in Hua Hin. Using a property lawyer, to draw up

contracts. The builder, tells me the best method of purchasing land. Is to buy in my girlfreinds

name, then lease from her. What i would like to know is this method legal, under Thai law.

Best regards

jb1

[SamSipEt]

Yes it is legal and I think that it is the best and safest way forward. Get a 30 year lease with a 30 year extension written into the contract. Other fine (but important) details should be advised by your lawyer.

[MarcHolt]

Hi folks.

Can anyone help. I am thinking of buying a property in Hua Hin. Using a property lawyer, to draw up

contracts. The builder, tells me the best method of purchasing land. Is to buy in my girlfreinds

name, then lease from her. What i would like to know is this method legal, under Thai law.

Best regards

jb1

Yes, a lease is the best way these days. Here's the procedure:

1. Get your lawyer to draw up a legal loan agreement stating that you will lend the money to your girlfriend, with a clause stating that the loan is on call for any reason you decide. Should you break up, you will be able to call the loan in and sell the property to recover your money. You might want to include a clause stating who gets the profit on the sale, as well as the interest. Make sure you cover all bases

Include another clause that the loan is only to be used to buy the specified property and that it cannot be used for any other purpose.

2. At the same time your lawyer should draw up a 30-year lease agreement giving you the right to renew for a further 30 years. Although the extra 30 years is not guaranteed under Thai law, having it in the contract will give you a legal foothold when the time comes.

3. Have your lawyer draw a up Last Will and Testament for both of you stating how the property will be disposed of in the event either one of you dies. This is essential. Your will should probably state that the loan is canceled when you die and that your girlfriend inherits the house.

Her will should state that she wills the house to you when she dies.

I highly recommend Somphob & Associates Law. They specialize in property law. They have set up this kind of procedure for my clients in the past and I highly recommend them. Check out their fees here: http://www.holt-realty.com/somphoblaw.php

And then visit their website for more details on contacting Somphob directly.

[SamSipEt]

3. Have your lawyer draw a up Last Will and Testament for both of you stating how the property will be disposed of in the event either one of you dies. This is essential. Your will should probably state that the loan is canceled when you die and that your girlfriend inherits the house.

Her will should state that she wills the house to you when she dies.

Don't forget to include a clause to the effect that whoever she wills the land to must also agree to all the other clauses protecting your rights to enable them to inherit the land. Confused? You will be but take it slowly with the proper advice and it should all be ok.

[jimbeam1]

Thanks a bunch guys.

Advice sounds good. I'll check it out.

Best regards jb1