Land Ownership For Thai Childern

[20yearsinthai]

my son is 18years old and a thai citizen. can he own property? I heard he could own but not sell till he was 21 years old.

I am trying to buy a piece of land which will involve financing and want to put in my sons name--another thai would have to guaruntee the loan.

Is this possible??

[jvlozare]

it depends on how lenient and flexible your Bank loan officer is.

your son could sign as borrower and you, even as a foreigner, should qualify as guarantor. the reasons

are -

[1] you are the actual borrower, but your son is thai and 18 years old, so legally he qualifies but not you;

[2] your son might be studying (not gainfully employed, no income), therefore, you as father should be

able to guarantee for him;

[3] try to convince the Bank that they don't really need a guarantor because your land is mortgaged to them already! this "guarantor" thing is just a formality on documentation, so even your thai wife could sign as guarantor for your son even if she's not employed.

i hope your banker is friendly, good luck!

[joeuk1]

At what age do children have to be to own land ? my son Thai is 4 year old i would like to buy him a piece of land put in his name for his future .

[20yearsinthai]

it depends on how lenient and flexible your Bank loan officer is.

your son could sign as borrower and you, even as a foreigner, should qualify as guarantor. the reasons

are -

[1] you are the actual borrower, but your son is thai and 18 years old, so legally he qualifies but not you;

[2] your son might be studying (not gainfully employed, no income), therefore, you as father should be

able to guarantee for him;

[3] try to convince the Bank that they don't really need a guarantor because your land is mortgaged to them already! this "guarantor" thing is just a formality on documentation, so even your thai wife could sign as guarantor for your son even if she's not employed.

i hope your banker is friendly, good luck!

thankyou--that will help me deal with the bank

the real issue is that of ownership--cause i had heard that thais could not own until they were 21--then i heard that thewy could own but could not sell till 21.

How does it work? my son would be the actual owner but put the land as collateral for the land? or does the banlk actaully own the land and transfer the land when the loan is paid??

[mouse]

At what age do children have to be to own land ? my son Thai is 4 year old i would like to buy him a piece of land put in his name for his future .

Mini-Mouse, my 7 year old daughter owns the land and house we live in. It can only be sold, if a Judge thinks it is in her interest, or she reaches the age of 21 years old. Doing the same with a second property for my sons who will own 50% each and both have a house on their share of the land.

Leaving money in the form of cash or Insurance in Thailand is like leaving a thimble of water out in the sun during the dry season. Gone instantly and noboby actually got a real drink!

[chuckd]

Just a minor comment, I believe the ownership age is 20, not 21.

I put my house in Pattaya in my daughter's name when she was 11 and was told she can do anything with the house on her 20th birthday.