Adding name to property

[chuang]

MOD if this is not the right forum, please direct to the right one, thanks.

A friend has taken a bank loan using his property ( house/land ) as collateral and he is the sole owner. Documents like land

deeds/Ta Bain Bann are held by the bank.

He wants to include another person's name to the property as a 50/50 share. Can he do it will the bank allows it.

If not, will lawyer helps....Thank you.  

[FritsSikkink]

 

The property is 100% collateral for the bank, why would anyone buy a share in that.

[chuang]

14 hours ago, FritsSikkink said:

 

The property is 100% collateral for the bank, why would anyone buy a share in that.

He is trying to include his sisters' name to it, just like to know if it's possible. Nothing to do with private transaction..

[KKr]

think that the Bank will demand that Sister co-signs or guarantees the loan.

[jackdd]

A bank wouldn't hold the land deed or the tabien baan, are you sure that the lone is actually from a bank? Sounds more like loan shark.

Edited September 8, 2021 by jackdd

[inThailand]

The bank must approve anything to do with title since they most likely registered a lien/mortgage on the title deed. Did you ask them? 

Edited September 8, 2021 by inThailand

[chuang]

1 hour ago, jackdd said:

A bank wouldn't hold the land deed or the tabien baan, are you sure that the lone is actually from a bank? Sounds more like loan shark.

Yes the bank holds all relevant doc .

[KarenBravo]

1 hour ago, jackdd said:

A bank wouldn't hold the land deed or the tabien baan, are you sure that the lone is actually from a bank? Sounds more like loan shark.

Of course the bank would hold the land deed if it was collateral.

[chuang]

1 hour ago, KKr said:

think that the Bank will demand that Sister co-signs or guarantees the loan.

A likely scenario.

[brianthainess]

1 hour ago, KarenBravo said:

Of course the bank would hold the land deed if it was collateral.

Also loan sharks so i have been told.

[brianthainess]

3 hours ago, jackdd said:

A bank wouldn't hold the land deed or the tabien baan, are you sure that the lone is actually from a bank? Sounds more like loan shark.

Of course they do, and car books if a loan is taken out against that, otherwise what would stop someone getting a loan and selling off the asset.

[KKr]

1 hour ago, KarenBravo said:

Of course the bank would hold the land deed if it was collateral.

Banks typically do to discourage unauthorized transactions, but if they were to do this without registering any lien, it would be rather meaningless.

Owner could, in theory, report title deed missing (forgot where I put) and in due course get a replacement with all current registered rights and encumbrances properly recorded.

 

[KKr]

9 minutes ago, brianthainess said:

Also loan sharks so i have been told.

loan sharks take all they can get as collateral, (full rights and land docs for half of “official value” i.e. tax based valuation as loan) however not MiL’s.

[KarenBravo]

2 hours ago, KKr said:

Banks typically do to discourage unauthorized transactions, but if they were to do this without registering any lien, it would be rather meaningless.

Owner could, in theory, report title deed missing (forgot where I put) and in due course get a replacement with all current registered rights and encumbrances properly recorded.

 

Yes, I know............I've been through this.

[jackdd]

19 hours ago, brianthainess said:

Of course they do, and car books if a loan is taken out against that, otherwise what would stop someone getting a loan and selling off the asset.

Physical possession of these documents doesn't mean ownership. The owner could just report them lost and have them replaced, then he can sell his asset.

A loan from a bank would be registered at the land office and shown on the land title, preventing the land from being sold. There is no need for the bank to keep the title deed. A house book doesn't have anything to do with ownership, why would they even want to keep it?