Power of attorney case

[hpix]

 

A is a condo owner, foreigner in foreign country. Does not have bank account in Thailand

B has power of attorney to sell the condo

C, me the buyer

 

The question: Can the buyer (C) put B as a receiver in to the cheque when paying the condo?

 

In normal case I would put A, the owner. But in this case A and B demand to pay directly to the B.

 

All A, B and C are fully aware that B is the final receiver of the money anyway. Me as a buyer just want to protect myself not paying to wrong party in this case and therefore asking this question here.

 

hpix

 

 

 

[Peterw42]

It may come down to the wording of the POA. B has POA to sell the Condo, maybe not to receive/bank the money in their name. I just went through a similar circumstance, buying a property with absent owner and someone acting POA. The cheque still had to be made out to pay the owner, and the POA deposited it into the owners account.

Check with the land office if they would allow payment to other than the owner. If its ok with them and the cheque/payment recorded (they usually take a photocopy of cheque) then I imagine you are covered.

[Etaoin Shrdlu]

What does the sale/purchase contract between you and the seller say? Does it specifically require payment to B and is payment to B considered payment to A?

 

I would seek proper legal advice on this one.

[hpix]

Thank you for the advice.

 

Now I try to get A to visit Thailand, it just makes things so much easier. The POA document is not ready and I understood it is quite complex procedure to make in foreign country. I would assume the cheque with A's name is easy to get paid to B's bank account when they go together to the bank. Even A does not have a bank account.

[Delight]

How is the essential issue of a FET (Foreign Exchange Transaction) to be dealt with.

I assume that the condo in question is in the foreign 49% allocation.

Also how did A  buy the condo in the first place without a bank account.

Cannot be done I think.

It looks dodgy to me. Could it be that A nd B have a scam going.

As a first stage I would ask A to provide you with a view of the Condominium Title Deed.

A's name will be written in Thai-however it will be easy to translate

No Deed -then A has nothing to sell.