Dead or alive ?

[madox66]

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.

[nikmar]

you may want to be careful  when going on to the balcony together

[ezzra]

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...

[scubascuba3]

Just do a will, she also will need enough money to pay the bills

[impulse]

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

[Celsius]

 

1 hour ago, madox66 said:

Would we need a lawyer ?  Are there any fees, taxes…?

No, it's all free in Thailand?

 

 

 

[BenStark]

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.

[BenStark]

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?

[impulse]

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.

 

[Celsius]

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?

[steven100]

7 minutes ago, BenStark said:

Perfect description of the relationship and trust between you and your wife.

 

Trust in Thailand ... lol

[BenStark]

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.

[madox66]

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.

[BigStar]

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.

[NoDisplayName]

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?

 

 

[save the frogs]

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?

 

 

[rwill]

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.

[giddyup]

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?

[bkk6060]

Do it.  Should work out for the best.

[save the frogs]

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. 

 

[jimn]

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.

[jippytum]

Please don't do it know. You will have to pay the transfer tax and change from Foreign to Thai quota. 

[impulse]

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...

 

[SportRider]

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. 

 

 

[Wrwest]

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.

[scorecard]

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. 

[thailand49]

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!

 

[Irish star]

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 

[BritManToo]

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.

[uttradit]

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?