Can I own a house or land underaged?

[EXOELO]

Hello everyone,

 

I am 15 years old. I live in Thailand. I want to know can I buy a detached house, apartment, condo as a 15 year old. I got money funded from my dad. If I buy a house as a 15 year old do I have full ownership over the house/property? Let's get to the point. Can I or my father buy a house in Thailand on my name ( Me as a 15 year old, underaged)

 

Thanks in advance!

 

[BritManToo]

Assuming you're Thai ........ yes you can, no you don't until you're 20.

Nobody can sell it before then, and dad will have to OK any decisions you make about it.

No credit of any kind allowed against it either.

[blackcab]

An off topic post has been removed.

[firemans35]

Last I heard a foreigner cannot own land but can own a house. The land must be in a Thai persons name but the land can be leased for up to 30 years at a time legally then a new lease agreement is required. If a foreigner owns a Thai majority owned business you can own land but there is debate on if this is legal because of how the company is formed. Often the foreigner has the company formed 51% Thai and 49% foreign owned with the foreigner having control over the Thai owned portion written into the bylaws. That's why a problem may arise when trying to own land in a company name. As for your age, I don't have a clue. The best thing to do is ask a Thai Attorney. 

[Max69xl]

1 hour ago, firemans35 said:

Last I heard a foreigner cannot own land but can own a house. The land must be in a Thai persons name but the land can be leased for up to 30 years at a time legally then a new lease agreement is required. If a foreigner owns a Thai majority owned business you can own land but there is debate on if this is legal because of how the company is formed. Often the foreigner has the company formed 51% Thai and 49% foreign owned with the foreigner having control over the Thai owned portion written into the bylaws. That's why a problem may arise when trying to own land in a company name. As for your age, I don't have a clue. The best thing to do is ask a Thai Attorney. 

Why do you assume he's a foreigner? 

[khunPer]

What is your nationality, Thai or...?

[poloshirt]

Are properties really that cheap in Thailand that you are willing to pay good money and use a Thailand citizen name to buy a house or whatever.

It seems ridiculous to me. I will never do that. If it's not in my name legally it doesn't belongs to me and in the court of law I have no say.

I would rather buy properties in Singapore or Malaysia where you use your own good name in the purchase & sales contract. If you are careful and shrew in Malaysia properties often appreciate and you could even make some money . All contract and legal document in English language.

Thailand is just for fun, you live here you rent and you leave when you have enough. As for investment, Singapore and Malaysia are top choice.

 

[LukKrueng]

Minors cannot do any financial transactions without parental approval. Any such contract can be disputed and void by court.

Property can be registered under a minors name, but such property can't be sold, mortgage or leased out without the court approval

[EXOELO]

On 9/7/2020 at 6:35 PM, khunPer said:

What is your nationality, Thai or...?

I have dual nationality Dutch/Thai

[khunPer]

4 hours ago, EXOELO said:

I have dual nationality Dutch/Thai

Minor Thai nationals can own property, but need a guardian, which normally would be a parent. It's very difficult, if not impossible, to sell or transfer a property owned by a minor; i.e. in your case as 15 year old that period would be almost five years, till you reach the age of 20. Any servitudes – like usufruct or superficies – should be made before the property is transferred to a minor.

 

A foreigner can own a house, but not the land under the house. To own a house as foreigner, it either need to be a new build house, with building permission in the foreigner's name; or a house that already has separated ownership from the land.

 

A foreigner can fully own a condo when it's within the 49 percent allotment of the total number on condos in the building, which is allowed to be owner by foreigners.

????