shares in condo

[domdom]

Good afternoon

Is it possible to transfer part of a condo property belonging to foreign quota to 2 more foreigners for them to have a minimal share in the condo..

The previous owner would still have the majority of the condo (80%) and other co owners would have 10% each

Thank you

Have a nice day

[Delight]

 You may find this useful

https://www.samuiforsale.com/knowledge/practical-legal-for-condos.html#10b

[domdom]

Thanks for your help .. I appreciate..

Our apartment is in a condo ruled under condominium act..

Apparently got the info that what we wanted to do is not possible.. Shares must apparently be equal, so 2 owners, each 50% .. 3 owners, each 33% etc..

Have a nice afternoon

[Delight]

Whilst this blog is still alive -I thought that I would ask a Q. Maybe somebody can supply an answer(s).

In relation to shared ownership the condo act only references one circumstance i.e. The owner of a   foreign registered condo apartment can

arrange to change the status from single ownership to joint ownership -but only if this new now joint owner is a Thai.

Joint ownership cannot be granted to a foreigner in a 100% Thai owned condo apartment.

From the Thai authorities position -this makes total sense.

However

I read that a foreign owned condo can have shared ownership . So 2 (or maybe more) foreigners can share.

But in this circumstance -lets say there are 2 foreigners involved-each foreigner has 100% ownership.

I am looking for some explanation . Can anyone explain this

Also in the building where I live a condo in a Thai name has a foreigner's name listed on the condo title deed.Is there any benefit for the foreigner with this arrangement.

Thanks for any help.