Ex-wife problem with house. Need help

[problemfarang]

Hi guys, a question for a friend:

 

Well this couple was married and bought a house together using bank loan. Of course he is paying the house but house name and bank loan is on her name. 

 

They got divorced and problems started. First she said you keep the house just do the payments to her bank account. But after 1 year she said she doesnt want to carry this loan on her so she said she is ready to change the house name to him or other thai person. 

 

Probably cannot be on his name. So will be other thai person name. The law is they cannot change the house name for 3 years. Its already 2 year so they must wait another 1 year for the change. But of course she asked him to pay the whole loan around 2 million baht. Impossible to pay that in 1 year. 

 

So is there any way that a thai person can take the house name (i mean name on the house book) with the bank loan too?

If not can a lawyer help? Need to contsct bank?

Any suggestions, help, advices please..

 

Thanks..

Edited July 25, 2021 by problemfarang

[tonray]

26 minutes ago, problemfarang said:

So is there any way that a thai person can take the house name (i mean name on the house book) with the bank loan too?

Yes....it's called selling the house. But the loan was made to her based upon her history/income. A new buyer would need either to assume the loan or get a new loan with the bank vetting their history and income before approving.

Edited July 25, 2021 by tonray

[Peterw42]

Firstly, name in house book is nothing to do with ownership.

The house belongs to the bank until the mortgage is paid up, look at the back of the chanote it will have the banks name as the mortgagee and the wifes name as the mortgagor.

The only name you can change is who has a mortgage, and foreigners cant have a mortgage.

 

There are only a couple of choices, sell the house and pay off the mortgage, someone else gets a new mortgage.

 

[problemfarang]

14 minutes ago, tonray said:

Yes....it's called selling the house. But the loan was made to her based upon her history/income. A new buyer would need either to assume the loan or get a new loan with the bank vetting their history and income before approving.

 

Hi again.

 

So are you saying that.. a thai person can take the house with the house loan still paying. I mean the person taking the house will accept to pay the loan of the house like normally they do monthly payment. I didnt mean the person will take a new loan to pay the house loan.. i mean the person will take the house with the loan on it. And continue the payment to the bank the rest of the loan??

 

Its like the house owner (she) will tell the bank she cannot pay anymore and want to give this person the house and the loan. So name will be this person and continue doing the payment house loan.

 

By saying assuming the loan, do you mean that a person can accept the loan and continue payment? Then can change the name? No taking new loan from the bank

Edited July 25, 2021 by problemfarang

[problemfarang]

4 minutes ago, Peterw42 said:

Firstly, name in house book is nothing to do with ownership.

The house belongs to the bank until the mortgage is paid up, look at the back of the chanote it will have the banks name as the mortgagee and the wifes name as the mortgagor.

The only name you can change is who has a mortgage, and foreigners cant have a mortgage.

 

There are only a couple of choices, sell the house and pay off the mortgage, someone else gets a new mortgage.

 

Hi.

So, there is no way like she will tell the bank that she cannot pay anymore and she wants to give or sell this house to another one. But the other person will continue paying the bank loan and will be the this person name

[BritManToo]

39 minutes ago, problemfarang said:

So is there any way that a thai person can take the house name (i mean name on the house book) with the bank loan too?

NO, absolutely no way!

But if he wants to live there he should pay the bank direct, as the former wife can't be trusted to make the payments. The bank doesn't care who pays them, as long as the money keeps coming in, they'll do nothing. They will accept cash payments at any branch, you just need to walk in with the mortgage account name and number.

[problemfarang]

Im looking a way to solve the problem without taking a new loan. But continue paying the current loan to the bank and also take the house book name to another person. 

 

So the new person will continue pay the house but also will be the new owner of the house. No new loan. Jist tell the bank from now on i will pqy this loan to you and it will be my home

[tonray]

8 minutes ago, problemfarang said:

 

Hi again.

 

So are you saying that.. a thai person can take the house with the house loan still paying. I mean the person taking the house will accept to pay the loan of the house like normally they do monthly payment. I didnt mean the person will take a new loan to pay the house loan.. i mean the person will take the house with the loan on it. And continue the payment to the bank the rest of the loan??

 

Its like the house owner (she) will tell the bank she cannot pay anymore and want to give this person the house and the loan. So name will be this person and continue doing the payment house loan.

 

By saying assuming the loan, do you mean that a person can accept the loan and continue payment? Then can change the name? No taking new loan from the bank

Forget all this about taking over payments. House must be sold....then proceeds of sale pay off ex-wife's loan so she is in the clear. New buyer then takes a new loan if necessary. Don't overcomplicate matters. She has a loan agreement and the  only way for her to discharge that debt is either paying it off or going into bankruptcy.

Edited July 25, 2021 by tonray

[Peterw42]

4 minutes ago, problemfarang said:

Hi.

So, there is no way like she will tell the bank that she cannot pay anymore and she wants to give or sell this house to another one. But the other person will continue paying the bank loan and will be the this person name

You cannot just take over a mortgage. Person A sells and clears their mortgage, person B gets a new mortgage.

 

[problemfarang]

Thanks..

It seems not easy. There is no way can get a new loan of 2million.. 

 

Hope he can solve the problem

[Elkski]

Maybe your friend should just move be away to a new place and let the ex deal with her loan.  

[BritManToo]

Just now, problemfarang said:

Thanks..

It seems not easy. There is no way can get a new loan of 2million.. 

 

Hope he can solve the problem

It's very easy, he pays the bank direct.

Leaving her only option to try and sell the house (good luck with that).

[Peterw42]

2 minutes ago, problemfarang said:

also take the house book name to another person. 

Again, house book has nothing to do with ownership.

The owner of a property is listed on the back of the Chanote. The only way a new name goes on as owner is if they buy the property, or the bank buys it and gives a mortgage.

[tonray]

18 minutes ago, Elkski said:

Maybe your friend should just move be away to a new place and let the ex deal with her loan.  

Yeah...problem is since he has been paying the loan in her name.....unless she is generous...when and if house is sold...she gets any equity built up (likely not much)...he should consider what he already paid as rent and move on.

[JomtienRay]

Best advice for him is to walk away and let her sort it out.. it's her problem, not his..

Find a new place to live and make a clean break.. any other compromise will only cause him complications, confusion, and never ending stress.. 

[problemfarang]

Thanks again to all..

I will tell all suggestions to him. 

 

 

 

 

 

[4MyEgo]

54 minutes ago, problemfarang said:

Im looking a way to solve the problem without taking a new loan. But continue paying the current loan to the bank and also take the house book name to another person. 

 

So the new person will continue pay the house but also will be the new owner of the house. No new loan. Jist tell the bank from now on i will pqy this loan to you and it will be my home

You or the friend sound very inexperienced.

 

It's obvious money has been paid into the house and not from her, however you or your friend should cut your losses by selling it asap.

 

Whether you or your friend get any money from any increase in the properties value after expenses are paid out, will be up to her, property in her name gives her all the power.

 

By putting the property into someone else's name and you or your friend continue paying the loan is just making it worse, that said, you need to find a good lawyer who perhaps can draw up a contract with your or your friends X to say that you have made xyz payments and will receive those funds after the loan has been paid back from the remaining capital gain, if any.

 

Rule of thumb, buying a house in Thailand means you are prepared to loose what you have paid out in my opinion by not having your name on the title which you can't, there are other alternative but personally not familiar with them so I stay clear of them as title's are something I am more familiar with.

 

You or your friend need to see a lawyer, get a contract drawn up with her that said monies paid in will be reimbursed from any gains from the property when sold and bank is paid back, if she doesn't agree, stop the payments and walk away from it.

[Liverpool Lou]

54 minutes ago, BritManToo said:

It's very easy, he pays the bank direct.

Leaving her only option to try and sell the house (good luck with that).

It's not "very easy" as his paying the bank doesn't help her at all...

"she said she doesnt want to carry this loan on her".    

[tomazbodner]

I bought a condo from a lady that still owed a lot to the bank. On the day of transfer at land office, I had to bring different cashier's cheques, where one was for the amount she still owed to her bank, another for her, the rest was for agent fees. Transfer fees were paid in cash to avoid cheque cashing fees on top. But basically selling that house, the buyer would simply need to split amount between the bank and seller. It will literally be the bank selling the property at what's owed to them, and then you get your difference to selling price.

 

That's easy, but usually easier if you have buyer also buying using a housing loan, as then the 2 banks will talk to each other and make sure it's done right. But in such case, the actual tabien baan will just go from your friend's bank to buyer's bank, and buyer will only get a copy until loan is paid off.

[BritManToo]

Just now, Liverpool Lou said:

It's not "very easy" as his paying the bank doesn't help her at all...

"she said she doesnt want to carry this loan on her".    

She doesn't have any choice but to carry the loan, unless she can sell the house.

I'm playing this game with my second Thai lady now.

 

First one was a gf, I lived in her house, and paid her mortgage direct to the bank, I even negotiated the repayment amount direct with the bank, they were happy to deal with anyone that would make repayments. (they wanted 10k/month, I paid 7k/month).

 

Second was a wife, I'm still living in the house, just lowered the repayments from 11k/month to 9k/month. The bank already repossessed 20% of the 250 homes on the housing estate.  No way for her to sell, bank thinks 9k/month is better than nothing a month. I view it as rent, but am happy to move elsewhere, could probably move next door(empty for the past 4 years) for 8k/month. 

[1FinickyOne]

1 hour ago, problemfarang said:

Im looking a way to solve the problem without taking a new loan.

that does not sound either possible or reasonable - why would a bank do that? They are much smarter than that... 

 

Think of yourself as the bank... you lend me $$ because you believe I am a person who can and will pay you back - I have assets. You have checked me out and I meet your requirements... 

 

Now I want to give the loan to someone else who might be living in the street for all you know... of course, the new person assuming the debt needs to be qualified too... 

[problemfarang]

43 minutes ago, BritManToo said:

She doesn't have any choice but to carry the loan, unless she can sell the house.

I'm playing this game with my second Thai lady now.

 

First one was a gf, I lived in her house, and paid her mortgage direct to the bank, I even negotiated the repayment amount direct with the bank, they were happy to deal with anyone that would make repayments. (they wanted 10k/month, I paid 7k/month).

 

Second was a wife, I'm still living in the house, just lowered the repayments from 11k/month to 9k/month. The bank already repossessed 20% of the 250 homes on the housing estate.  No way for her to sell, bank thinks 9k/month is better than nothing a month. I view it as rent, but am happy to move elsewhere, could probably move next door(empty for the past 4 years) for 8k/month. 

Someone told me if they sign a new contrqct with the bank we can continue the loan of the house. Actually 2 people told me this. 

So its like go to the bank and tell them will be new contract and the payment will continue on others name

Need to contact bank

[rumak]

1 hour ago, JomtienRay said:

Best advice for him is to walk away and let her sort it out.. it's her problem, not his..

Find a new place to live and make a clean break.. any other compromise will only cause him complications, confusion, and never ending stress.. 

+1        doesn't matter how many times we give this "advice"  to guys tangled up in problems like this..

 

          their answer (almost) always starts with.......   yeah,  BUT.........

[nauseus]

2 hours ago, Peterw42 said:

Again, house book has nothing to do with ownership.

The owner of a property is listed on the back of the Chanote. The only way a new name goes on as owner is if they buy the property, or the bank buys it and gives a mortgage.

Not necessarily so. My advice (to the friend) is to consult a good and reputable lawyer.

[mancub]

Should have reconciled this issue at the time of divorce.

[NanLaew]

1 hour ago, rumak said:

+1        doesn't matter how many times we give this "advice"  to guys tangled up in problems like this..

 

          their answer (almost) always starts with.......   yeah,  BUT.........

These sort of questions are always being asked for 'a friend'.

 

I guess we're just lucky and don't know how difficult it is to sign up on the forum these days.

[problemfarang]

3 hours ago, NanLaew said:

These sort of questions are always being asked for 'a friend'.

 

I guess we're just lucky and don't know how difficult it is to sign up on the forum these days.

So this is how you made 29k messages? A big lol to you.

Maybe you are not aware but some people are not good at computers as you. Plus it doesnt matter its a friend,its you or its me, does it?

[problemfarang]

I told to my friend about ideas from here. Thanks to all of you. 

 

I think he will get a new loan, take the house and move on.. 

[rumak]

53 minutes ago, problemfarang said:

I told to my friend about ideas from here. Thanks to all of you. 

 

I think he will get a new loan, take the house and move on.. 

the "for a friend"  is just a bit of a laugh for us jaded old timers.    don't take it too seriously.

 

but..... it is a fact that most of the time the best advice from said old timers is disregarded ,  and of

course it is because we are just "bitter old men" .......... (not wise old men  ????

[nickmondo]

21 hours ago, BritManToo said:

She doesn't have any choice but to carry the loan, unless she can sell the house.

I'm playing this game with my second Thai lady now.

 

First one was a gf, I lived in her house, and paid her mortgage direct to the bank, I even negotiated the repayment amount direct with the bank, they were happy to deal with anyone that would make repayments. (they wanted 10k/month, I paid 7k/month).

 

Second was a wife, I'm still living in the house, just lowered the repayments from 11k/month to 9k/month. The bank already repossessed 20% of the 250 homes on the housing estate.  No way for her to sell, bank thinks 9k/month is better than nothing a month. I view it as rent, but am happy to move elsewhere, could probably move next door(empty for the past 4 years) for 8k/month. 

thats an ok situation for you.  because all you have effectively done is pay rent to live in the house.

I would say that you understand Thailand very well..........rare to see here