madox66 Posted February 6 Share Posted February 6 Would it be easier and cheaper to give my condo to my wife during my lifetime instead of waiting for my death knowing that anyway she’s the only heiress on my will. Would we need a lawyer ? Are there any fees, taxes…? Thank you. Link to comment Share on other sites More sharing options...
Popular Post nikmar Posted February 6 Popular Post Share Posted February 6 you may want to be careful when going on to the balcony together 1 1 11 2 Link to comment Share on other sites More sharing options...
Popular Post ezzra Posted February 6 Popular Post Share Posted February 6 Never, wait until your demise, because once you transfer the property to her name you HAVE NOTHING, and knowing Thai people and the influence their families put on them once it is out that this is the situation now, you'll be sorry you did... 2 2 3 1 8 Link to comment Share on other sites More sharing options...
Popular Post scubascuba3 Posted February 6 Popular Post Share Posted February 6 Just do a will, she also will need enough money to pay the bills 3 2 Link to comment Share on other sites More sharing options...
Popular Post impulse Posted February 6 Popular Post Share Posted February 6 (edited) 1 hour ago, ezzra said: Never, wait until your demise, because once you transfer the property to her name you HAVE NOTHING, and knowing Thai people and the influence their families put on them once it is out that this is the situation now, you'll be sorry you did... +1 Counterintuitive as it may sound, giving her the condo could cause her a lot of friction between her and her family. I've got visions of family members popping out of the woodwork to beg her to use the condo as collateral on a loan to pay off Luigi (or the Thai equivalent) so he doesn't break their legs. Edited February 6 by impulse 3 1 1 1 Link to comment Share on other sites More sharing options...
Celsius Posted February 6 Share Posted February 6 1 hour ago, madox66 said: Would we need a lawyer ? Are there any fees, taxes…? No, it's all free in Thailand? 1 1 Link to comment Share on other sites More sharing options...
Popular Post BenStark Posted February 6 Popular Post Share Posted February 6 1 hour ago, ezzra said: Never, wait until your demise, because once you transfer the property to her name you HAVE NOTHING, and knowing Thai people and the influence their families put on them once it is out that this is the situation now, you'll be sorry you did... Perfect description of the relationship and trust between you and your wife. I assume you sleep in different bedrooms, with the armoured door of yours locked, and still pay her a monthly salary. 1 1 3 2 Link to comment Share on other sites More sharing options...
BenStark Posted February 6 Share Posted February 6 21 minutes ago, impulse said: +1 Counterintuitive as it may sound, giving her the condo could cause her a lot of friction between her and her family. I've got visions of family members popping out of the woodwork to beg her to use the condo as collateral on a loan to pay off Luigi (or the Thai equivalent) so he doesn't break their legs. Why would any of the family members know in whose name the property is? 1 Link to comment Share on other sites More sharing options...
impulse Posted February 6 Share Posted February 6 3 minutes ago, BenStark said: Why would any of the family members know in whose name the property is? TBH, that was my first thought... Transfer it to her but keep it a secret from the fam. But then I laughed at myself. Even if the family didn't know, I don't envy her the inner turmoil knowing she had the wherewithal to keep Luigi from breaking her brother's legs, but she didn't. 1 1 Link to comment Share on other sites More sharing options...
Celsius Posted February 6 Share Posted February 6 8 minutes ago, BenStark said: Perfect description of the relationship and trust between you and your wife. I assume you sleep in different bedrooms, with the armoured door of yours locked, and still pay her a monthly salary. The OP owns a condo. Why does he have to transfer a condo that will be rightfully hers after his death? Is she stupid, lazy or perhaps being pressured? 2 Link to comment Share on other sites More sharing options...
steven100 Posted February 6 Share Posted February 6 7 minutes ago, BenStark said: Perfect description of the relationship and trust between you and your wife. Trust in Thailand ... lol 1 1 Link to comment Share on other sites More sharing options...
BenStark Posted February 6 Share Posted February 6 2 minutes ago, Celsius said: The OP owns a condo. Why does he have to transfer a condo that will be rightfully hers after his death? Is she stupid, lazy or perhaps being pressured? Maybe for reasons explained by others here, because even if there is a will, it cost money for the probate and the transfer costs of the condo at that time. I also don't know if currently there are taxes to be paid on an inheritance, similar to the west, but even if not these can change quickly with the current PM. 2 Link to comment Share on other sites More sharing options...
Popular Post madox66 Posted February 6 Author Popular Post Share Posted February 6 I’m asking this because it seems there is a lot of paperwork with a will, the need of a court decision, a lawyer and a time period of several months after my death for her to own the condo. There should be no inheritance tax but a transfer tax, I was asking if there is a transfer tax when you give a property for free. 3 1 Link to comment Share on other sites More sharing options...
BigStar Posted February 6 Share Posted February 6 1 hour ago, impulse said: +1 Counterintuitive as it may sound, giving her the condo could cause her a lot of friction between her and her family. In theory, she could keep it a secret from her family to avoid that problem. But Thais seem unable to do that, unless she's a rare exception. 2 Link to comment Share on other sites More sharing options...
NoDisplayName Posted February 6 Share Posted February 6 4 minutes ago, madox66 said: I’m asking this because it seems there is a lot of paperwork with a will, the need of a court decision, a lawyer and a time period of several months after my death for her to own the condo. There should be no inheritance tax but a transfer tax, I was asking if there is a transfer tax when you give a property for free. Maybe have your wife call the local land office and inquire. Perhaps it would be possible to have her name added to the chanote as co-owner? Link to comment Share on other sites More sharing options...
Popular Post save the frogs Posted February 6 Popular Post Share Posted February 6 2 hours ago, ezzra said: Never, wait until your demise, because once you transfer the property to her name you HAVE NOTHING, and knowing Thai people and the influence their families put on them once it is out that this is the situation now, you'll be sorry you did... why do people even bother getting married if you can't trust your own spouse? 4 3 Link to comment Share on other sites More sharing options...
Popular Post rwill Posted February 7 Popular Post Share Posted February 7 OMG. The wife and I have been married over 40 years now. We(she) currently own 2 properties. I have never worried about her stabbing me behind my back. Not every Thai woman is out to get you. If you married a good woman she will have your back covered. 3 1 3 3 Link to comment Share on other sites More sharing options...
giddyup Posted February 7 Share Posted February 7 14 hours ago, save the frogs said: why do people even bother getting married if you can't trust your own spouse? Why are there prenups? 1 Link to comment Share on other sites More sharing options...
bkk6060 Posted February 7 Share Posted February 7 Do it. Should work out for the best. Link to comment Share on other sites More sharing options...
save the frogs Posted February 7 Share Posted February 7 1 hour ago, giddyup said: Why are there prenups? yes, it's true. we cant fully trust our spouses or anyone. i was just ranting. 1 Link to comment Share on other sites More sharing options...
jimn Posted February 7 Share Posted February 7 Condo maybe different because of the land. But 8 years ago I bought a house in a company name 2 years later I decided to put in my wife's name. Cost me 10k to close company and 180k in land transfer fees, so there will be a cost. Link to comment Share on other sites More sharing options...
jippytum Posted February 7 Share Posted February 7 Please don't do it know. You will have to pay the transfer tax and change from Foreign to Thai quota. Link to comment Share on other sites More sharing options...
impulse Posted February 7 Share Posted February 7 16 hours ago, save the frogs said: why do people even bother getting married if you can't trust your own spouse? Even if you trust your spouse 100%, why burden her with the responsibility for that one family member (and every family has one) who's going to get into debt and come begging for a bailout? If she owns an asset that can be sold or used as collateral, there's a good chance there will be familial pressure to help the black sheep out of trouble. Or, what I saw more often among my Thai coworkers, the family member who's got a great business idea and just needs some funding. Which rarely ends well... 1 1 Link to comment Share on other sites More sharing options...
SportRider Posted February 7 Share Posted February 7 18 hours ago, impulse said: +1 Counterintuitive as it may sound, giving her the condo could cause her a lot of friction between her and her family. I've got visions of family members popping out of the woodwork to beg her to use the condo as collateral on a loan to pay off Luigi (or the Thai equivalent) so he doesn't break their legs. This is good advice. ➡️ Somchai. 1 Link to comment Share on other sites More sharing options...
Wrwest Posted February 7 Share Posted February 7 20 hours ago, madox66 said: Would it be easier and cheaper to give my condo to my wife during my lifetime instead of waiting for my death knowing that anyway she’s the only heiress on my will. Would we need a lawyer ? Are there any fees, taxes…? Thank you. Valid thinking but in her name, definitely you should hold a usufruct giving you the right to live there until the end of your days. Link to comment Share on other sites More sharing options...
scorecard Posted February 7 Share Posted February 7 22 hours ago, ezzra said: Never, wait until your demise, because once you transfer the property to her name you HAVE NOTHING, and knowing Thai people and the influence their families put on them once it is out that this is the situation now, you'll be sorry you did... But you could also put a usufruct on the land title deed requiring that you must sign for the property to be sold and this would be valis until you die. And the usufruct can state that you have a right to live in the condo until you die. 1 Link to comment Share on other sites More sharing options...
thailand49 Posted February 7 Share Posted February 7 Even in Thailand put it in Joint. You can also get a lawyer docs translated to put the condo in her name but note " Life Estate " Which allows you to live in Unit until your death! Link to comment Share on other sites More sharing options...
Irish star Posted February 7 Share Posted February 7 I will never leave anything in a girls name until after I’m gone , if something happens it’s ruled suicide , I just my truck back it was in her name but I showed all the payments I made and I got it back after 10 months , took a while every police officer said her name her truck , so I went to Courthouse and Won , truck is 1.2 million , she put scratches on it before giving it back purposely , keyless entry why all the scratches I guess her bf doesn’t get to drive it anymore , he still crying , probably cost me 20,000 to buff it out and a couple dents , Don’t put anything in their names Please it’s not cheap to get back 1 1 Link to comment Share on other sites More sharing options...
Popular Post BritManToo Posted February 7 Popular Post Share Posted February 7 20 hours ago, save the frogs said: why do people even bother getting married if you can't trust your own spouse? Cooking, cleaning, sex and a bit of laundry. 4 Link to comment Share on other sites More sharing options...
uttradit Posted February 7 Share Posted February 7 21 minutes ago, Irish star said: I will never leave anything in a girls name until after I’m gone , if something happens it’s ruled suicide , I just my truck back it was in her name but I showed all the payments I made and I got it back after 10 months , took a while every police officer said her name her truck , so I went to Courthouse and Won , truck is 1.2 million , she put scratches on it before giving it back purposely , keyless entry why all the scratches I guess her bf doesn’t get to drive it anymore , he still crying , probably cost me 20,000 to buff it out and a couple dents , Don’t put anything in their names Please it’s not cheap to get back You drive a truck in Thailand? 1 Link to comment Share on other sites More sharing options...
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