Condo Buyer Won't Change Ownership On Chanote

[Pattaya Spotter]

2 minutes ago, digger70 said:

If you were there then you should've Seen that when All the money was paid (if the Check was  good )that the Chanote Was /Suppose to be Changed into the New Buyers Name  If not  someone is Not Telling the Truth.

Why should I have done that...I wasn't acting as a lawyer, real estate agent, notary, or escrow agent for any of the parties. The seller has offered many times to go down with the buyer to the land office and effect the transfer but the buyer just puts it off. (I'll add that the buyer is quite wealthy and the amount of money involved isn't very material to him.) Like I said above, just looking for suggestions to pass along to the seller to get the buyer moving on this.

[digger70]

1 minute ago, Pattaya Spotter said:

Why should I have done that...I wasn't acting as a lawyer, real estate agent, notary, or escrow agent for any of the parties. The seller has offered many times to go down with the buyer to the land office and effect the transfer but the buyer just puts it off. (I'll add that the buyer is quite wealthy and the amount of money involved isn't very material to him.) Like I said above, just looking for suggestions to pass along to the seller to get the buyer moving on this.

I Didn't say You did I.  I just Don't believe that the new owner (that doesn't Own the condo on Paper )would Do something like that . He would lose all the money he paid if your friend Keeps the Chanote.

Having one's name and possessing the chanote is the first thing one Does.

[Pattaya Spotter]

2 minutes ago, digger70 said:

Having one's name and possessing the chanote is the first thing one Does.

You would think so right...but not this guy. They do say the rich are different than you and me!

[JBChiangRai]

Tell your friend to tell the buyer he has a terminal illness and it needs doing quickly or he will lose the condo to greedy relatives

[Pravda]

Sell it again. 

[digger70]

27 minutes ago, Pattaya Spotter said:

You would think so right...but not this guy. They do say the rich are different than you and me!

They might think that they are different but they didn't Cost anymore for Making then you or me .

I tell you something .

When we bought some land We all met at the Lands department, Paid the seller there and we signed and We got the chanote There an then in our name  . So figure

[Pilotman]

8 hours ago, Oldie said:

If he wants he can get a new Chanute at the Land Department.

He can't get a new one. There are only two for each property, one at the land office and one with the owner. They cannot be duplicated. 

[Pattaya Spotter]

4 minutes ago, Pilotman said:

He can't get a new one. There are only two for each property, one at the land office and one with the owner. They cannot be duplicated. 

Just out of curiosity, what happens when they are lost, stolen, or destroyed by fire?

[Pattaya Spotter]

7 minutes ago, digger70 said:

When we bought some land We all met at the Lands department, Paid the seller there and we signed and We got the chanote There an then in our name  .

Yes, that's usually how it's done.

[Pilotman]

2 minutes ago, Pattaya Spotter said:

Just out of curiosity, what happens when they are lost, stolen, or destroyed by fire?

I'm not at all sure.  I know that ours are securely locked away and my wife is paranoid about keeping them safe.  

[Regyai]

9 minutes ago, Pattaya Spotter said:

Yes, that's usually how it's done.

Exactly

 

Monies, chanote, ownership all exchanged on the day in the land registry

 

All else is folly at best , chicanery at worst

[Pattaya Spotter]

21 minutes ago, Regyai said:

Exactly

 

Monies, chanote, ownership all exchanged on the day in the land registry

 

All else is folly at best , chicanery at worst

Well as I've said, this was a sale between friends and both the money and condo title were good. You would think the buyer would want to add his name to the chanote, and has had many opportunities to do so, but a year on he has not. Of course, the fact they're friends adds to the sense of non-urgency on the buyer's part.

[tomazbodner]

 

11 hours ago, Pattaya Spotter said:

My friend sold his condo over a year ago but the buyer has yet to have to chanote changed over into his name.

 

I just bought a place and both me and seller had to go to land office and sign paperwork before it was official. You can't just give someone a chanote. There has to be a contract stamped and signed by the land office before sale is final. Whoever bought condo from your friend does not legally own it until that's done. As whatever he wishes to do, he'll have to show chanote and the contract from land office. When I called the home care to have something replaced, I was told in order to do that I have to bring chanote/copy of chanote and the contract from land office to juristic office to register me as owner. Without that contract he doesn't own the place.

 

So I agree with some others who say - inform him of the part that if he doesn't do it, he doesn't own it and it can be sold again to someone else.

 

Side note - if he sells it within a year of buying it, he'll need to pay a very hefty tax. So it might be an additional benefit for him to get that done. But he'll also need seller to join at land office and date of sale will only be on that day. Only after that he can change his address in tabien baan or pink card or... And he actually can't sell it anyway as he doesn't own it...

 

10 hours ago, FritsSikkink said:

Your friend should have gone with him to the land office on the day of sale.

 

Absolutely agree. But as he hasn't done that, do it as soon as possible. That guy can't do it himself.

[impulse]

I obviously don't know any of the parties.  But I wonder if there's a reason one of them doesn't want to make his presence known to the authorities.  Wouldn't be the first cashed up expat who didn't get himself legal.

 

[Pattaya Spotter]

1 minute ago, impulse said:

I obviously don't know any of the parties.  But I wonder if there's a reason one of them doesn't want to make his presence known to the authorities.  Wouldn't be the first cashed up expat who didn't get himself legal.

 

They are both long term expats know to the authorities, and living in Thailand on "retirement" visas.

[tomazbodner]

6 minutes ago, impulse said:

I obviously don't know any of the parties.  But I wonder if there's a reason one of them doesn't want to make his presence known to the authorities.  Wouldn't be the first cashed up expat who didn't get himself legal.

 

Maybe he just doesn't realise the importance of doing it and thinks having a chanote is enough... it isn't.

[Pattaya Spotter]

Just now, tomazbodner said:

Maybe he just doesn't realise the importance of doing it and thinks having a chanote is enough... it isn't.

He ownes 2 other condos...in Bangkok and Chiang Mai...he knows but is just being lazy.

[tomazbodner]

10 minutes ago, Pattaya Spotter said:

He ownes 2 other condos...in Bangkok and Chiang Mai...he knows but is just being lazy.

Or avoiding taxes.

 

First place is very low, but subsequent places where you don't live but are in your name could be significant. Not sure if that is already in effect but I know some people getting bills to pay like 100 baht... for the condo they lived in, so I guess it is.

[Sujo]

Why bother, wait til the buyer dies and sell again. 

[Stevemercer]

37 minutes ago, tomazbodner said:

 

I just bought a place and both me and seller had to go to land office and sign paperwork before it was official. You can't just give someone a chanote. There has to be a contract stamped and signed by the land office before sale is final.

 

You often hear about loan sharks taking the chanote as a guarantee for a loan. I've often wondered how any final transfer is affected. Surely the land owner would have to agree to 'sell' the land to the loan shark before the property could actually change hands? I guess the land owner can't sell the land, get a loan against it or do anything long term with the land if they don't physically possess the chanote.

[Oldie]

52 minutes ago, Pattaya Spotter said:

He ownes 2 other condos...in Bangkok and Chiang Mai...he knows but is just being lazy.

Perhaps he does not own them too? 

[tomazbodner]

2 hours ago, Stevemercer said:

 

You often hear about loan sharks taking the chanote as a guarantee for a loan. I've often wondered how any final transfer is affected. Surely the land owner would have to agree to 'sell' the land to the loan shark before the property could actually change hands? I guess the land owner can't sell the land, get a loan against it or do anything long term with the land if they don't physically possess the chanote.

Don't know about that but if you take a loan from the bank, there will be bank written as the owner on the chanote, and you only get a copy of it, while original is kept with the bank. When you pay off the loan you get the original back and your name is written as the owner. But again, all this is done at the land office. You can't just add something to chanote by yourself... I guess it's a guarantee, they keep the original to make sure you can't sell it. Might force you to sell it to pay back if you can't repay? But don't think they could sell by themselves without person listed on chanote present (or having his power of attorney).

[DJ54]

Maybe the buyer is sitting on it and thinking of flipping it to make profit.. shuffle the paper to buyers ..buyer..