Buying house for Thai daughter

[stigar]

20 hours ago, mvdf said:

Why?? She's his daughter. He can give her anything he can afford to give or buy. Why is it a loss to give something to a daughter, whether he's married or not to her mother? I don't calculate when i give something to my children. I never see it as a loss. Love is never selfish.

 

I gave my house to my kids after i get divorced.Anyway i was never a owner of the land.I

I understand what u mean.

[4MyEgo]

21 hours ago, thai999 said:

If I move money to my girlfriend

Sorry, but your NOT thinking straight, once you transfer money to a 3rd party, you no longer have control over it, end of that story, as well intending as you think it might be.

 

YOUR money, MUST stay in your account, NEVER to go to anyone else's account for whatever matter, otherwise you expose yourself to losing your/daughters future savings, even if it's for a day or two, FORGET IT.

 

I have been married to the same woman for 15 years, very very happy with my wife, but my savings/money/investments are in my name and will always remain separate because that way I DO NOT put myself in a situation where I could lose it, trust has nothing to do with it, trust is what brings people down financially.

 

Long of the short, if you really want to buy her property here in Thailand, buy her a condominium or a villa/townhouse in a security complex close to a beach/tourist area and lease it out, it will be in your name and you put her down as the sole beneficiary in your will, simple, however if your looking at good capital appreciation, I don't see that happening here, but some increase or a place for her to stay when she grows up, yes why not. 

Edited October 12, 2021 by 4MyEgo

[WhiteBuffaloATM]

unmarried fathers in thailand with their name on childs birth certificate have no automatic paternity rights but its not true to say that “ carries no weight at all “. Gives Right to apply for Court Paternity Rights and Right to use Dependent Thai Child as basis for related Stay Visa (or perhaps Avoid Jail) or in Municipal matters…..

[Will B Good]

Just a suggestion....it avoids a myriad of pitfalls

 

Invest the capital in a tax free fund for her to access when she is 18.

 

Then she can make her own decision re: what to buy.

[khunPer]

23 hours ago, thai999 said:

She has a passport from my home country as well. I am not married to the mother. The construction company told us that my girlfriend should buy the house for our daughter. Why can I not buy it for her? If I move money to my girlfriend, do we have to pay gift tax because we are not married?

In principle the guardian can sign for a minor to buy a house - your daughter need to be Thai citizen, forget about passport to your home country - but if you don't have sole custody both parent might need to sign.

 

If you give money to a girlfriend it's considered to be "income", and normal Thai income tax need to be paid.

[Nong Khai Man]

23 hours ago, VocalNeal said:

I believe there is a minimum age for home ownership. Not sure what it is but it is not 4.

Think it's 21 In'it ??

[khunPer]

20 hours ago, thai999 said:

How I understand the law is that every Bath over the tax free income tax bracket is taxed at 10% gift tax or am I wrong? Is there really no tax exemption if I move for example 300,000b to a Thai national and it will be used to purchase something.

It's income tax, there is no heritage- or gift tax in Thailand, I never found any.

 

22 hours ago, thai999 said:

The lady on the phone told her that my daughter can own the house but the money should come from the mother.

It might be a question of being legal guardian. When not married, you only have parental rights at all, unless if there is either a DNA-test - I think it's going through a court, other posters have mentioned that - or the child is seven years or older, and both child and mother confirms at the Amphor-district office, together with you, that you are the father. The Amphor office will issue a Khor.Ror.11 certificate as proof; I used the amphor-method for approval of being father of my half-Thai child.

 

You might still need both parents acceptance, just like when applying for a passport for a minor.

 

If you need any servitudes on property bought in the name of a minor - that could usufruct or habitation right - the servitude needs to be declared before the title deed is transferred to the minor, as it might be between extremely difficult and impossible to declare a servitude on property owned by a minor.

[KhunLA]

3 hours ago, ThailandRyan said:

Not Silly in the least.  It is his daughter and if he also has parental rights by doing the appropriate paperwork then who are you to make a judgement as you have.  Would you not ensure your children had a roof over their head or would you begrudge them just because you may have had a bad experience.

Being he wants to put it in daughter's name, implies a bit of uncertainty in relationship with mother.  He / she can always add daughter's name to deed when an adult.  Buying for a 4 yr old....let that sink in.

 

I've had nothing but good, or shall I say safe experiences here with 1st & now present 2nd wife.  Actually sold the house without the 1st wife, as had POA drawn up and signed by her.  Ended that relationship couple years before selling the house, and she wasn't, and didn't need to be at the land office, when sold.

 

Advice already given for ignorant people, don't invest more than you can afford to lose.

[DrJack54]

21 hours ago, thai999 said:

Ok things like that really scare me off. I will think about it again. 

Just one more thing in general: If you move money to a Thai national (not family member), does he have to pay gift tax then? How I understand the law is that every Bath over the tax free income tax bracket is taxed at 10% gift tax or am I wrong? Is there really no tax exemption if I move for example 300,000b to a Thai national and it will be used to purchase something.

I'm not advising re purchase process for 4 yr old daughter, but rather my recent experience re financial process.

I gifted a house to my gf. 

The money side of things was very simple. 

I transferred money from my Oz a/c to my Thai bank account using WISE.

When time for settlement I had bank cheques (teller cheque) drawn up at my bank as per instructions from vendor.

Attended Land office and property transfered into partner's name. In addition I signed a statement that I had no claim to property etc. 

I suggest that pretty much all you need to check out is how to do that process when the new owner is to be a 4yr old. 

Can't see it being huge deal.

 

Edited October 12, 2021 by DrJack54

[BangkokReady]

23 hours ago, mvdf said:

Why?? She's his daughter.

How does he know he can trust her?  She might have another Dad on the side.  You have to be really careful in Thailand.

[thai999]

Ok guys I don’t know if you read my last post but she is my legal daughter, we have gotten the document from the district office already. Please don’t advice me anymore on how to make my daughter legal, I told you already she was granted my legal daughter at the district office, I have the document  already.

And yes there is a gift tax, even if some of you never heard of it. The gift tax is real since feb 2016. If anybody understands the gift tax 100% please explain, thank you in advance. Don’t post the link to the websites, I have read them already, I just want to know when do you have to pay gift tax in general. Does the receiver have to pay for every baht 10% if it is over their income tax-free allowance. And I am not planning to send the money for the house to my girlfriend, I wanted to take care that myself but the land department office told us like that. That’s why I am asking here if this is right what they are saying or not because I couldn’t believe this to be true.

[KhunLA]

Avoid the 'gift tax', as it's only a gift if you say it is.

 

In my world, it would be a loan, 0% interest, no monthly payments, balloon payment in 20 yrs.  Yea, you can write that up anyway you want.  Contract can be cancelled by either party at any time.  I've actually written one similar to that, as needing a reason to move a large sum once.

 

No limitation what you can or can't put in any contract between 2 people.

 

As far as buying for a 4 yr old ... you're asking the wrong people at the wrong place.   LAWYER, and not just one, ask a couple.  Many options to secure her future, housing, livelihood.  I'm assuming the 3 of you are living in the same house now.

 

I can understand not wanting to be married, again.  I've been 4 times ???? and escaped 3 times, unscathed, though I seem to be the exception, or no kids made it easy.

 

Aside from married, common law relationships exist here, and if paperwork drawn up properly (LAWYER), then no issues, though if contested,  the usual legal hassle of court intervention.  Before anyone chimes in .... "Thais always win" ... that's nothing but BS.

 

Good Luck

Edited October 12, 2021 by KhunLA

[LukKrueng]

5 hours ago, thai999 said:

I am the legal father granted by district office. 

If anybody knows the rules here for gift tax in general (giving money to a non family member to purchase something) please let me know. Don’t post links from all the sites which explain it, I read it already and as I understand it they have to pay gift tax of 10% for any baht you send to a non family member if it is over their 0% income tax bracket. 

As per my previous reply:

1. You being the legal father is irrelevant for the issue. 

2. You don't need to transfer the money to the gf for the registration of the property at the land office. 

If the house is finished and you pay upon transfer of ownership at the land office you simply show up with cash or cahier check. 

If the house is in the process of being built and you pay by instalments - you can pay cash or transfer money from your account to the developer and the last payment is at the land office

[DaveSamutP]

On 10/11/2021 at 6:12 PM, KhunLA said:

Silliest thing I've read in a long time.  Buying a house for a 4 yr old.

 

Buy yourself a condo, and if she is still in your life when she is 20 yrs old, give it to her.

I must agree, respectfully. 

 

It's not my daughter, and only he can decide what he thinks is best, but I might take out an investment and legally give the daughter access when she is of age. I'm not sure how that works in Thailand, but in most developed countries such financial instruments exist.

 

A house for a 4 year old... In Thailand... Could end up in anyone's hands. Not like the 4 year-old can determine the outcome.

[ChipButty]

On 10/11/2021 at 4:52 PM, BritManToo said:

Would point out under Thai property law, only a court order would allow the gf to sell her daughters house. And the courts never allow that sort of sale.

I agree with you, you saved me typing that out, the mother would have to convince the court why she needs to make her daughter sell

[BritManToo]

13 minutes ago, DaveSamutP said:

A house for a 4 year old... In Thailand... Could end up in anyone's hands. Not like the 4 year-old can determine the outcome.

It's one of the safest financial transactions in Thailand IMHO.

The land office and the family courts go out of their way to protect the property of children.

You can forget about anyone selling or borrowing against a property owned by a Thai child.

[bbabythai]

On 10/11/2021 at 4:34 PM, stigar said:

I would never ever do that..just an advice..dont invest more then u can afford to loose

no doubt you dont have a 4 yr old daughter or any child of any age

[bbabythai]

On 10/11/2021 at 5:12 PM, KhunLA said:

Silliest thing I've read in a long time.  Buying a house for a 4 yr old.

 

Buy yourself a condo, and if she is still in your life when she is 20 yrs old, give it to her.

Your advice is even more stupid no offence. When the kid is 20 yrs old the building is old as such. Probably not worth much depending on location of course

[bbabythai]

2 hours ago, DaveSamutP said:

A house for a 4 year old... In Thailand... Could end up in anyone's hands. Not like the 4 year-old can determine the outcome.

wrong. the land office are extremely strict about transactions that involve minors

[KhunLA]

6 minutes ago, bbabythai said:

Your advice is even more stupid no offence. When the kid is 20 yrs old the building is old as such. Probably not worth much depending on location of course

My advice is stupid ????  And you really don't think the house, or especially the land, won't be worth anything 20 yrs from now ... who's stupid.

 

Land appreciates silly here.  Obviously someone has never invested in either here....nuff said

But keep giving advice.

[bbabythai]

3 minutes ago, KhunLA said:

My advice is stupid ????  And you really don't think the house, or especially the land, won't be worth anything 20 yrs from now ... who's stupid.

 

Land appreciates silly here.  Obviously someone has never invested in either here....nuff said

But keep giving advice.

you're talking about buying a condo as an idea

 

Yes land appreciates here in thailand. thats why OP is better off to to buy a house/ land. NOT A CONDO

 

My wife and I own a commercial building and currently rent it out....

[Liverpool Lou]

On 10/11/2021 at 4:48 PM, stupidfarang said:

Also note that a parent has legal control over a child until they are 20 years old, so your gf can sell the house even if it is in the daughters name.

Nonsense.  She would need to get consent from the courts to sell  property registered in the child's name. 

Edited October 12, 2021 by Liverpool Lou

[Skallywag]

On 10/11/2021 at 4:28 PM, thai999 said:

I would like to buy a house for my Thai daughter (4 year old). She has a passport from my home country as well. I am not married to the mother. The construction company told us that my girlfriend should buy the house for our daughter. Why can I not buy it for her? If I move money to my girlfriend, do we have to pay gift tax because we are not married?

In America you could put property, funds, etc.. into a Trust fund and have it available for the person after they reach the age of adulthood . 18 in the USA, possibly 20 in Thailand.

 

Commend you on investing for Thai loved ones. 

Most people in the world are greedy and spend mostly on themselves.  

 

Helping impoverished people who are worthy is likely the most humanitarian thing you can do in this world

 

Peace

[Liverpool Lou]

On 10/11/2021 at 5:27 PM, KhunLA said:

Mother is legal guardian, so daughter will not really own anything, in reality.  Mother tells the kid to sell the house, it's going get sold.  If mom wants to use it as collateral for a loan, that's going to happen also.

Nonsense.  The child can own the property in reality and only a court can allow it to be sold or used as collateral.

[WhiteBuffaloATM]

…….which property sale, rental or loan has never yet been Court Sanctioned here….. likely never will be.

property must also be maintained in good order by Child Guardian ….

[SCOTT FITZGERSLD]

On 10/11/2021 at 10:18 AM, thai999 said:

We want to live in a house, you understand? And I can’t own a house, but my daughter can.

you sound confused and ignorant.

you wanting to live in a house has nothing to do with buying the house to someone else.

you can lose a house which is not properly registered on your name, and

than you can lose the house AND your money.

 

fact is that foreigners can't buy houses in thailand. mo mattar what the lawyers will tell you,

thai law does not give you full ownership on houses and land.

if that is what thailand wants - so be it. do not waste your time and energy trying

tofigure out how you can own a house in a country that does not allow you to own a house.

it is not such a big loss. just rent a house, invest your money in better investments, and be happy. and when your child will grow up you will have more money to give her.

[The Hammer2021]

On 10/11/2021 at 5:12 PM, KhunLA said:

Silliest thing I've read in a long time.  Buying a house for a 4 yr old.

 

Buy yourself a condo, and if she is still in your life when she is 20 yrs old, give it to her.

Hes not buying it for her. Hes putting it in her name

[stupidfarang]

12 hours ago, Liverpool Lou said:

Nonsense.  She would need to get consent from the courts to sell  property registered in the child's name. 

You need to read all the threads, I was wrong, mother cannot sell the house, I admitted my error in a early thread