Chanote used as mortgage collateral. How to know looking at it?

[JeffersLos]

How to tell if a Chanote is being used as collateral against a mortgage on another unit?

 

Do the land office mark or stamp the chanote in some way, is it altered, or documented on the original chanote, if it being used as collateral on another property?

 

TIA. 

[MJCM]

AFAIK

 

If the Chanote is used as collateral against another property then the lender will keep the chanote until full payment is received 

[BenStark]

It's written on the back of the chanote

[JeffersLos]

1 hour ago, BenStark said:

It's written on the back of the chanote

Do you have an example from online images etc?

 

For example, is it stamped at the land office, is the writing printed onto it at the land office, is it hand written at the land office and date stamped? or how and where is it written on the back of the chanote?

 

TIA

Edited July 11, 2023 by JeffersLos

[BenStark]

7 minutes ago, JeffersLos said:

Do you have an example from online images etc?

 

For example, is it stamped at the land office, is the writing printed onto it at the land office, is it hand written at the land office and date stamped? or how and where is it written on the back of the chanote?

 

TIA

Obviously written in Thai, with the name - date and registration number of the loan, as it must be registered at the land office.

 

At the end of the line is a red stamp.

 

Nothing is in handwriting on a chanote.

 

If you have a chanote you obviously will see there is reserved spaces for that on the back

Edited July 11, 2023 by BenStark

[DrJack54]

Perhaps not dealing directly with thread.

I have purchased few properties in Thailand into Thai partner name.

The thing that I find  amazing in Thailand is that at Land office, the official seems to check out out everything on both sides of the purchase.

Example clear title and mortgage etc.

 

[scorecard]

1 hour ago, BenStark said:

It's written on the back of the chanote

True, written on the back of the original copy of the chanut, held at the Land Titles office and on the copy. 

[scorecard]

2 hours ago, MJCM said:

AFAIK

 

If the Chanote is used as collateral against another property then the lender will keep the chanote until full payment is received 

Yes, the borrower surrenders the borrowers copy of the chanut for the lender to hold as security.

 

But the original copy is still held / always held at the Land Titles Office. 

Edited July 11, 2023 by scorecard

[scubascuba3]

I don't think land office will transfer if there's a mortgage on the chanote? must be one of the first things they check

[JeffersLos]

12 hours ago, BenStark said:

Nothing is in handwriting on a chanote.

 

If you have a chanote you obviously will see there is reserved spaces for that on the back

We have a few chanotes. The ones from before 2538 are handwritten. 

 

The reserved spaces on the back are for where the next owner's names will be printed, along with other pertinent information, no doubt that is where it would be documented, but I don't see one specific space for only collateral/mortgage information. Thanks. 

[JeffersLos]

7 hours ago, scubascuba3 said:

I don't think land office will transfer if there's a mortgage on the chanote? must be one of the first things they check

Actually, it's nothing to do with land transfer. 

 

In typical Thai fashion it's a big mix up of Thai family stuff, where one member was overseas, land being granted to them was put into another family member's name, the Thai is coming back this year, and will want to know if the other member hasn't used it as collateral etc etc while holding onto it. Normal Thai mix mash nonsense. ????

[BenStark]

17 minutes ago, JeffersLos said:

We have a few chanotes. The ones from before 2538 are handwritten. 

 

The reserved spaces on the back are for where the next owner's names will be printed, along with other pertinent information, no doubt that is where it would be documented, but I don't see one specific space for only collateral/mortgage information. Thanks. 

Yes 30 years ago things may have been different,

 

In those space everything related to the land will be noted. Name changes - address changes - collateral - end of collateral, leases etc

[FriendlyFarang]

It's all on the back of the chanote, same place where an ownership transfer goes, here one random example from Google:

1: Owner mortaged with Bangkok bank

2: Mortage cleared

3: Mortaged again with Bangkok Bank

4: Mortage cleared

5: Transfered to some farmer debt fund under law 37/9

6: Farmer debt fund transferred the land to another person who is now the owner.