Ex-wife problem with house. Need help

[Bundooman]

She sells the house to him; now, she's out of trouble.

He moves in with the continued payments, he's now in trouble. (?)

She then sells the land; not only out of trouble, but in the money.

The new owner wants your friend out! He's in the money

Therefore,

Your friend's ex-wife - very happy!

Your friend f**ke dover!

New owner owns cheap land and a house!

Great solution!

Anything is possible in Thailand!

Just day dreaming and mind roaming really........... but! ..............?

 

[Scouse123]

21 hours ago, 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 could be trying to back him intro a corner especially asking him to clear the house loan of 2 million baht?

 

We don't know, but there again ex wives! We know that routine!

 

It would become a bit clearer if we knew if she was actually still living there or if it was empty. If it's empty, I get her point, she doesn't want it and wants the debt out of her name but if she is still in it, she could have other ideas that won't be to his benefit.

[chrisandsu]

The only trouble with keeping the loan in her name is she will own it . As soon as there is equity in the property she may well Refinance and take the equity out . Why don’t you lend him the 2 million baht @6% interest and if he fails to pay you get to be the bailiff ? 

[brianthainess]

23 hours ago, BritManToo said:

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.

Good Idea except, once the loan is payed off she can sell it from under him.  

[BritManToo]

11 minutes ago, brianthainess said:

Good Idea except, once the loan is payed off she can sell it from under him.  

In my case, the mortgage has 17 years left, and I have probably 5 years left.

So I'm good!

[brianthainess]

Depending on the loan repayments, but I would use that payment to rent elsewhere, and if not furnished sell off all goods inside before moving out, not tell the ex and leave her with the loan.  When she defaults the bank will sell it end of loan.  But that's just me.

[brianthainess]

1 hour ago, Bundooman said:

She sells the house to him; now, she's out of trouble.

He moves in with the continued payments, he's now in trouble. (?)

She then sells the land; not only out of trouble, but in the money.

The new owner wants your friend out! He's in the money

Therefore,

Your friend's ex-wife - very happy!

Your friend f**ke dover!

New owner owns cheap land and a house!

Great solution!

Anything is possible in Thailand!

Just day dreaming and mind roaming really........... but! ..............?

 

Its not hers to sell, yet. 

[MrJ2U]

On 7/25/2021 at 9:28 AM, 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.

On top of that most likely could take year or more.  Why not just wait one more year to change the name?

 

Bare in mind property values have dropped since COVID-19 so its in there best interest to wait anyway.

[Scouse123]

The information supplied by the OP doesn't give enough details.

 

1. Is he living in the house?

2.Is she living in the house?

3. Are they both in the house but living separate lives?

4. Why does she want him to clear 2 million in one swoop? Why would he do that when it is all in her name?

5. What has been paid and what is owed?

6.Value when purchased? Value now?

 

So many variables. By the sound of it, I cant see much equity unless a big chunk was put down initially.

 

When these questions are answered, anybody can say whether it's better to walk away.

 

Ex wives of any nationality are not known for their generosity in giving houses away, especially if there is equity.

[lanng khao]

43 minutes ago, BritManToo said:

In my case, the mortgage has 17 years left, and I have probably 5 years left.

So I'm good!

Judging on that photo you posted of yourself you will we'll see that mortgage out.

[BritManToo]

2 minutes ago, lanng khao said:

Judging on that photo you posted of yourself you will we'll see that mortgage out.

That was actually my pal, he died 18 months after that photo was taken (AIDs/Sepsis/Bone cancer).

[Autonuaq]

she got the loan based on a income. the bank has a relation with her based on the income.

i am not sure about underlaying contracts between your friend and his ex-wife.

 

if she can not pay the the bank will take the house.

 

your friend has nothing unless he registered on on the documents of the house he could stay in it until his death.

 

the easy solvable way is to sell the house. his ex-wife could get the loan so she would be albe to pay.

your friend just move out and move on with his life.

ex-wife is ex-wife, nothing left between them as she already made clear

 

just sell it..

 

[xtrnuno41]

As you said , name not changeable within 3 years, Thai law.

Probably only when selling.

So stuck on that one. And then only house can be put on name of farang.

Not the land, farang cant own land. She wants to break total with him and want land on another (Thai) persons name. Again trouble.

Bank only wants money back, no matter what.

 

I guess he wants to live there and she already got out. Now the mortgage is a mind burden to her, a tie.

He need to speak with her anyhow to continu this situation and then in the mean time put it for sale. He needs to get out and find something new. Only possibility to finish all, sell.

Been said farang also cant have mortgage in Thailand, thats why it is in her name and problems are there. IS your friend also the guarantor for the mortgage? Maybe from that point of view, something can be done at the bank?

Step out and have execution value of property to pay mortgage, with probably then a rest guilt to pay of? Bank takes over house?

 

She now thinks the mortgage is a burden to her, a tie?, so wants to break. Probably.

You never know what is really in the mind of anybody and can even be worse.

Was this house bought in mariage? Then both are responsible for assets and debts.

If bought before mariage and on her name then it is totally hers. You could walk away easy then, i think, but also you have to leave the property. Unless again you are the guarantor.

RIght?

      

[khunPer]

On 7/25/2021 at 4:48 AM, 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 cannot solve the problem without taking a new loan. The old loan must be paid in full before you can transfer the tittle deed to a new name. The Blue House Book got nothing to do with ownership, the book only shows who is registered residents in the house.

 

Transferring of ownership is done at the local land office, and transfer fee and stamps need to be paid when transferring ownership, and normally also tax if it's considered as a sale of property. But before any transfer can be done, all loans need to paid in full.

 

If someone else begin to pay the loan - which is possible, as others have mentioned, anybody can pay - does not transfer ownership to that "someone else", the property still belongs to the name on the back of the title deed, where the bank however has a loan servitude. This "someone else" just pays the load for the real owner.

 

Edit, PS: I'm not aware what you mean by "three years".

[KKr]

On 7/25/2021 at 10:53 AM, tomazbodner said:

the actual tabien baan

got nothing to do with this.

Chanote = Title Deed

[tomazbodner]

2 hours ago, KKr said:

got nothing to do with this.

Chanote = Title Deed

Ouch! Yes! Of course. Buyer gets house book, but original chanote is kept with the bank and buyer only gets a copy, and when loan is paid off, original. Bank also puts their name on the chanote.

 

Thank you for correction. I guess I was distracted when I was writing that.

[Orinoco]

Just walk away. start afresh.

They will and do, if the boot was on the other foot.

Don't pay any more money.

Don't expect any money back.

Its just all part of the Thailand game.

Chalk it all up to experience.

TIT.

[problemfarang]

On 7/26/2021 at 10:19 AM, MrJ2U said:

On top of that most likely could take year or more.  Why not just wait one more year to change the name?

 

Bare in mind property values have dropped since COVID-19 so its in there best interest to wait anyway.

Hi,

nope, its not dropped. or at least where i live. A house i looked for myself at a ModiVilla muuban was 2.7 they stopped the construction due to covid and started like 2 months ago and now the same house is 2.8 I also noticed this in some other muubans.. 

[BritManToo]

3 minutes ago, problemfarang said:

Hi,

nope, its not dropped. or at least where i live. A house i looked for myself at a ModiVilla muuban was 2.7 they stopped the construction due to covid and started like 2 months ago and now the same house is 2.8 I also noticed this in some other muubans.. 

Would point out new houses that come with a mortgage arraigned by the builder are easier to sell and at higher prices. Your second-hand house with no easy financing will be almost impossible to sell at any price.

 

My house was 1M8 with financing made easy, the builder is still building and selling the same house for 2M8 ......... which really doesn't mean my house is worth more than 1M8.

[problemfarang]

UPDATE:

 

he decided to live in the house alone for another 1 year so the house will be available to sell. That 3 year rule was from the bank.. due to tax and other things. After a year he will tell her to sell the house and he will move out because he cannot pay 2.5mil which is the rest of the bank loan. He will suggest to pay the loan extra another 2 months which will give her a good chance to sell the house and close the loan. He will rent a house. 

 

 

thanks to all.

[problemfarang]

5 minutes ago, BritManToo said:

Would point out new houses that come with a mortgage arraigned by the builder are easier to sell and at higher prices. Your second-hand house with no easy financing will be almost impossible to sell at any price.

Hi,

its 2 year old house. And in really great condition. When ready to sell it will be 3 year old house and again with new house condition. Have kitchen and garden too

The location is also really good. 7-eleven, bigC about 1km central westgate mall is about 7km. Have many things around too. 

My opinion is it can be sold in 2-3 months easily 

he told me that there are already 2 people asking for the price. 1 is the next house. I think she wants to join the 2 houses. 

 

Also if cannot sell that fast. He will live there till sell. At the end she must sell the house if she really wants to get rid of the loan. so he will think like its rent house... 

[BritManToo]

Just now, problemfarang said:

Hi,

its 2 year old house. And in really great condition. When ready to sell it will be 3 year old house and again with new house condition. Have kitchen and garden too

The location is also really good. 7-eleven, bigC about 1km central westgate mall is about 7km. Have many things around too. 

My opinion is it can be sold in 2-3 months easily 

House next to me was purchased by flippers ...... it's been vacant 8 years since built.

Moobaan houses are almost unsalable at the moment, and have been for the past 5 years.

Different rules for builders, as they can offer credit.

Kitchen adds no value to a home in any country.

 

Yes, you can sell it easily if it's for half the price you purchased.

[problemfarang]

Just now, BritManToo said:

House next to me was purchased by flippers ...... it's been vacant 8 years since built.

Moobaan houses are almost unsalable at the moment, and have been for the past 5 years.

Different rules for builders, as they can offer credit.

Kitchen adds no value to a home in any country.

 

Yes, you can sell it easily if it's for half the price you purchased.

thanks for the advice. I hope he can sell the house and get rid of this situation. Maybe she will sell the house just for the rest of the loan... like i said the next house owner really wants to buy it. I think she already offered 2.5

[CrunchWrapSupreme]

On many occasions, a Thai lady, wife or GF, takes out a loan in her name, based on her credit, for property or a vehicle. The understanding is that her farang will make the payments, though his name's not on anything.

 

On the bad side, he has no legal rights to the stuff, and must lose what he's put in when he walks away. But on the good side he can make a clean break, not obligated to keep paying.

 

Thus, it's really up to the Thai lady to think long and hard about taking such a loan. Is the relationship likely to pan out? Will they both make an effort to hold it together? She loses the farang, she loses the gravy train.

 

Sure, there are many scumbag farangs who screw things up and leave the poor lady holding the bag. Though there are also Thai ladies who become hell to deal with, and think the farang will just keep paying regardless.

[KKr]

On 7/27/2021 at 3:28 PM, tomazbodner said:

Ouch! Yes! Of course. Buyer gets house book, but original chanote is kept with the bank and buyer only gets a copy, and when loan is paid off, original. Bank also puts their name on the chanote.

 

Thank you for correction. I guess I was distracted when I was writing that.

never mind, happens to all of us ???? ,
especially after a long weekend on the Town ???? (I wish).

Bank puts an encumbrance on the Title Deed.
Title cannot be transferred without approval from the Bank.

By the way, this is a different Encumbrance from Usufruct or Superficies where the Title can be transferred without the Beneficiary approving, and that transfer does not annull the Encumbrance.

[KKr]

3 hours ago, BritManToo said:

House next to me was purchased by flippers ...... it's been vacant 8 years since built.

Moobaan houses are almost unsalable at the moment, and have been for the past 5 years.

Different rules for builders, as they can offer credit.

Kitchen adds no value to a home in any country.

 

Yes, you can sell it easily if it's for half the price you purchased.

Same observation here:
people that call and ask for discount galore,  
but potential buyers not so many,
thereof few are "bankable" and
cash buyers now very rare.

[KKr]

???? ????

[KKr]

3 hours ago, BritManToo said:

House next to me was purchased by flippers ...... it's been vacant 8 years since built.

Now, that is what I call a flip-flop ???? 

[Delight]

Is it possible that your friend can set up a Thai company-then transfer the house to this company?

 Of course a foreigner only has control of a property when it is owned by  a  Thai company.

 

Suspect not possible!

[problemfarang]

2 hours ago, Delight said:

Is it possible that your friend can set up a Thai company-then transfer the house to this company?

 Of course a foreigner only has control of a property when it is owned by  a  Thai company.

 

Suspect not possible!

Hi,

Yes, one of our common friends suggested that to him. He said its too much work and extra money just to have this house. 

 

Last time i talked to him, he said he will just wait 1 year and then tell her ex to sell the house, bye.