Leaving the Condo to the (non-Thai) Girlfriend when I die ...

[LoftyViews]

Afternoon all,

 

So I want to leave the Bangkok Condo Sukhumvit Soi 8 to the Mrs when I die. 

 

I know I need a Thai will, is there also a document I can register at Amphur or whatnot to be 100% certain.

She's Non-Thai so does that cause issues at all with Condo ownership, FET Forms etc etc

 

Cheers in advance...

 

Ps I refer to her as the Mrs, we're not married but been together 9 years...

 

[Foxx]

The will can be registered with the local khet office (they're not called amphur in Bangkok).

[quake]

I'm pretty sure she will have to sell the place within 12 month as she is a non Thai. if that makes any difference to your plans.

I could be wrong.

 

 

[Jingthing]

8 minutes ago, quake said:

I'm pretty sure she will have to sell the place within 12 month as she is a non Thai. if that makes any difference to your plans.

I could be wrong.

 

 

I do believe that you're correct!

But she could take the sales money, export it, then reimport it, and buy another condo if she really wants a condo.

[mania]

14 hours ago, quake said:

I'm pretty sure she will have to sell the place within 12 month as she is a non Thai. if that makes any difference to your plans.

I could be wrong.

That would be the case if it were a house but not the case if it is  condo registered in the Foreigner  owned 49 percentile of the building

 

If it were part of the 51% Thai owned section of the building then maybe as you said, but the OP did not say he was Thai nor the condo was part of that 51% Thai section

[Jingthing]

I think she would still need to sell a foreign quota condo.

[Sandboxer]

If it's a foreign quota condo, the non-Thai heir has 12 months to sell it, after which the Land Office is authorized to sell it at auction. Non-Thai heir can NOT simply transfer the title in his or her name if he/she decides to keep it beyond that. Heir would need to import/transfer the assessed (by Land Office, based on previous purchase price) value of the unit from overseas to Thailand first.

 

So technically as an heir you're forced to "buy" your own friggin' inherited property if you want to keep it permanently (after which you can do with it whatever you want....rent it out/live in it/sell it at a later date etc.). TiT.

 

Property sellers/developers/lawyers try their best to avoid this topic because it's something (most?) foreign condo buyers never really think to ask because it would be a completely normal and logical process in pretty much any other country for an heir to rightfully be able to inherit (register in their name) what is theirs without additional financial requirements B.S. thrown in...

 

Basically reason #8762536468 to never ever buy anything here (condos included) unless you you're alone with no one to leave anything to or your non-Thai kids/relatives/friends all just hate you 555 (ok, that probably covers half of us, lol).

 

https://www.thailandlawonline.com/article-older-archive/inheritance-of-real-estate-by-foreigners

 

[Sandboxer]

Edit to my above post (was unable to edit again after posting):

 

Once the heir has brought in the assessed value from overseas and "bought" their inheritance, they can of course do with the money as they please - send it out of country again (not as easy as it may sound), or just keep it in LOS to use (or not) as they please. The point is that not every dead falang's heir will have $200k,,,,300k....+++ etc. in cash on hand to send money here. Never mind the principle of the whole matter.

 

This is the legal situation as I understand it. If there are any legal eagle members here who can correct me, please do so.

 

 

[couchpotato]

Why not just transfer it into her name now. Simple process.

Yes there will be some taxes (% will depend on how long you've had it).

This takes away all the other red tape other posters have mentioned, and gives you peace of mind.

Then live happily ever after.

[Sandboxer]

35 minutes ago, couchpotato said:

Why not just transfer it into her name now. Simple process.

Yes there will be some taxes (% will depend on how long you've had it).

She would still need to transfer the assessed value from overseas, but yea, a few probate/court related steps could be skipped. 

 

But if she then dies first, it's back to square one. Just reversed, 555.

[Delight]

Perhaps you could consider putting the condo into company.

Yes you will need a FET.

That money has to be displayed -but not spent..

Then as your demise becomes closer -you can add her name as MD and remove yours.

It also means that she can bequeath the condo at the appropriate time.

The replacement of MD names in a company condo is very cheap.

A will is still required should you have lots of money to bequeath -unless you give it to her -close to the end

 

With this  company way you retain control.

 

If you will the condo -then the Mrs. has to bring in the FET .

 

EDIT

 

Just had a further thought.

If you make a will which  has the Mrs as sole beneficiary and the administrator.

 

The post probate court will put  the condo in the name of the  Mrs as administrator- the administrator of your estate

The trick is to leave it there- she do not transfer to Mrs as beneficiary.

There is no legal demand with reference to time  to do the transfer - from Mrs (administrator )to Mrs (beneficiary)

 

When she sells the new foreign buyer provides the FET

 

Another point.-you have have multiple originals-as many as you like.

 

No benefit -that I can see -using the local Amphur

 

 

[chalawaan]

Just sell the damn thing now, leave the cash to her, and rent something better, on the ground near a quiet beach, like Steve Rosse.

 

You're only leaving her a massive headache, and they'll probably find a way to disqualify her. 

[TimeMachine]

On 6/4/2023 at 9:23 AM, Foxx said:

The will can be registered with the local khet office (they're not called amphur in Bangkok).

Used to be able to have wills deposited and registered with local pattaya office but that has been stopped a while back for falang. Can any one confirm they have done it recently in bangers.

 

My research into probate has led me to have the plan of selling everything sooner than later. It seems a very arbitrary and corrupt ridden procedure. Could go well, could not go well. Depends on what evil people are involved in the process along the way. 

[soi3eddie]

This is a situation I am also in. Thai lawyer told me that under will and probate the condo can be transferred with no FET to foreign beneficiary. I'm not so sure and haven't researched further so this topic is useful. Even when I divorced my  Thai wife, both names on chanote, I had to import 50% FET to satisfy land office before ex's name could be removed from chanote.