Checks for taking over business to purchase property.

[jj123]

Can anyone advise what checks regarding debts I should do when taking over a company to purchase a house.

 

I have a lawyer but I want to check as they seem pretty nonchalant about the whole thing. 

 

I am in the process of checking with NCB ( National credit bureau) if any debts with business.

Checked with the DBD.

Checked back of house title deeds.

 

 

Thanks

 

[Albert Zweistein]

Check with 2 more lawyers.

[3STTW]

Depends who makes up the 51% Thai ownership. Do you know them or are they lawyer appointed? You can protect yourself in a number of ways but if you don't, you're asking for trouble.

 

Remember that the lawyer's nonchalance is predicated on the fact that you don't know what you're doing, so take a step back and make sure you know exactly what's going on.

[khunPer]

On 7/24/2021 at 2:52 PM, jj123 said:

Can anyone advise what checks regarding debts I should do when taking over a company to purchase a house.

Do you have access to updated company book keeping and contact to the accountant/auditor, which might be advisable to continue with instead of moving the book keeping to a new accountant?

[Joe Medina]

Well you should do a DUE DILIGENCE study by a certified Thai lawyer