I have just finished reading an article from a Brit who has sunk his live savings in to a 5 rai farm in Thailand. Nothing wrong with that you will say but as he did not want to get involved with officialdom he only took a 3 year rental agreement which he was assured would be renewed every time. He has just found out that the land has been sold to a property developer and he has to vacate in four weeks time at the end of his rental agreement. He is asking for advice on how he stands legally.

How did he sink his life savings into a rental property?  Presumably he would only need to pay rent?

With his level of intelligence, I'm guessing his life's savings didn't amount to much money.

14 minutes ago, BangkokReady said:

How did he sink his life savings into a rental property?  Presumably he would only need to pay rent?

Perhaps after renting the farm he put his life savings into it running it for three years?

I watched his video on YT yesterday and immediately came to the conclusion that the man was a plonker!  Why didn't he rent for a longer period and get the rental (lease) agreement secured at the land office (as is legally required).

 

He doesn't have a legal leg to stand on.  Why on earth would someone sink their life savings into a project with a 3-year lifespan and no legal right of lease renewal?  Having seen the video, I cam to the conclusion that his life savings amounted to a few thousand quid....

34 minutes ago, stratocaster said:

he only took a 3 year rental agreement which he was assured would be renewed every time. He has just found out that the land has been sold to a property developer and he has to vacate in four weeks time at the end of his rental agreement. He is asking for advice on how he stands legally.

He voluntarily rented a farm for three years with a contract for three years and now the three year term is up?  The rental agreement has expired, as has his tenancy, and the owner can do whatever he likes with his farm/land, it is none of his business now as he has no interest in the farm.

Link?

37 minutes ago, stratocaster said:

He is asking for advice on how he stands legally.

He has to vacate the land

9 minutes ago, simon43 said:

He doesn't have a legal leg to stand on.

 

That.

Lots of people like "great opportunities" - not only in Thailand.

 

I have to admit when I was younger I also missed some of those great opportunities because I had no money at that time. In the hindsight it is good that I didn't have the money to "invest", because it would have been lost.

 

Now combine such a "great opportunity" with the new girlfriend or wife who always worked so hard in her life and she would have been rich if only she would have had the money to invest...

 

Many people are just not capable of seeing possible risks and thinking about what can go wrong. And most likely something will go wrong. 

He likely did not have much in the way of "life savings", if a 3 year lease on the land wiped him out. The information we have been given is incomplete, and not enough for us to form much of a basis on. Rural land lease prices here are generally quite low, so no idea what this is about.

 

Perhaps the OP would like to clarify some of this for us?

32 minutes ago, simon43 said:

I watched his video on YT yesterday and immediately came to the conclusion that the man was a plonker!  Why didn't he rent for a longer period and get the rental (lease) agreement secured at the land office (as is legally required).

 

He doesn't have a legal leg to stand on.  Why on earth would someone sink their life savings into a project with a 3-year lifespan and no legal right of lease renewal?  Having seen the video, I cam to the conclusion that his life savings amounted to a few thousand quid....

Where did all the money go?  Did he build a farm from scratch on the land, or was it just rent?

41 minutes ago, Liverpool Lou said:

Perhaps after renting the farm he put his life savings into it running it for three years?

But don't you "run" a farm to make money?  The "running" presumably involves growing or rearing something that is then sold.

Lots of people do stupid things and I must admit to having done so once or twice (or more) in my life, and yes, I too, lost quite a bit of money, am I stupid? No! but this is life and we're all Prone to do mistakes, some are bigger than others.

So where is the link for this story?

@stratocaster @simon43 Can you please share links to the article / YT video. 
 

Thanks

 

MTV