Clever Finnish man beats the system....or does he?

[soi3eddie]

4 hours ago, NorthernRyland said:

and btw, what do you account for this 10x price increase in 11 years? I think land in Thailand may be in a bubble fueled by debt, which has largely peaked as people are so indebted today. It's not worth 40 million now is it? 2004 = 400k, 2015 = 4 mil, 2025 = 40 mil??

We got the land cheap off a relative. The value had gone up a bit due to commercial activities nearby. I was shocked at the official valuation. We used a big company, they came and did a full spiral bound written report etc. like those used by the banks to value property/land. I was amazed at the valuation. Can't imagine anuyone ever paying 4 million for the land. It still sits undeveloped and overgrown after 20 years. 

 

[NorthernRyland]

4 hours ago, Expat68 said:

I live in Issaan and was told by another Thai that people from Bangkok are buying land, which is forcing the price up

That's what they say here in Chiang Mai too! People from BKK are buying everything, hurry up before it's too late. It's true to an extent but clearly overstated from what I can tell.

[VBF]

22 hours ago, NorthernRyland said:

23 hours ago, it is what it is said:

this criminal free paradise you refer to certainly does not extend to the whole of europe, in fact i can't think of any criminal free country in europe, though i haven't been to finland. or, is this just an excuse to thai bash, which is surprising given you seem to have chosen to live here.

I'm giving the wrong impression here. I don't mean Europeans aren't criminal, I simply observe a strong trust in laws within the Europeans (I mean American, Canadian etc... too) when compare to the Thai people.

 

In the mind of the Finnish guy Jay he has a piece of paper which gives him a sense of security because he believes the system will protect him. Thai people in my observation don't have this same trust because they know there is a corruption in the officials and the paper is only as good the person willing to enforce it, which may never happen.

 

I've never gone through the legal system in Thailand but I don't trust it because I see the Thai people themselves don't trust their authorities. That's my only point.

Perhaps what you're both alluding to is that in Western countries, the law is more likely to be applied equally to all parties, regardless of whether they're locals or foreigners.

Clearly, there's often an element of "who you know" but I think that's far more the case in Thailand.

[NorthernRyland]

2 minutes ago, soi3eddie said:

Can't imagine anuyone ever paying 4 million for the land. It still sits undeveloped and overgrown after 20 years. 

and there it is. I see land for sale in CM at ridiculous prices and yet the neighbors are all dirt poor and similar land is vacant for decades. I think it has to do with the gambling mindset of Thai people and magical thinking. 4 million is not a huge amount but 10 rai is a lot and imagine what you would need to put on it in order to make an ROI. If it was that valuable it would have been snatched up already.

[VBF]

Double post - sorry! 

Edited April 24 by VBF

[VBF]

Double post - sorry   

Edited April 24 by VBF

[NorthernRyland]

41 minutes ago, Tropicalevo said:

ie the spirit of Thai law will override the letter of the law.

The way others are explaining these laws it gives the impression effective land ownership is trivial and just a matter of a  document signed at the land office. I wonder if the higher courts got involved they would rule such usufructs issued to foreigners are illegal.

[NorthernRyland]

2 minutes ago, VBF said:

Perhaps what you're both alluding to is that in Western countries, the law is more likely to be applied equally to all parties, regardless of whether they're locals or foreigners.

Clearly, there's often an element of "who you know" but I think that's far more the case in Thailand.

I feel like the law holds more power in the minds of the Western person. There's a long history of "a mans word is his bond" and legal traditions that are part of the culture and pride of the people. I simply don't see that in Thailand and so I speculate you could get burned badly if you bring that mindset into Thailand with you and expect the same outcomes.

[VBF]

2 minutes ago, NorthernRyland said:

I feel like the law holds more power in the minds of the Western person. There's a long history of "a mans word is his bond" and legal traditions that are part of the culture and pride of the people. I simply don't see that in Thailand and so I speculate you could get burned badly if you bring that mindset into Thailand with you and expect the same outcomes.

As Kipling said, "East is East and West is West, and never the twain shall meet"

Still true in many areas of life.

[Acharn]

On 4/23/2024 at 3:30 PM, FritsSikkink said:

A usefruct doesn't mean you own the land, you can use it.

Exactly. I think he's assuming family relations will be good forever. It might work. It does for millions of people.

[DTL2014]

i think you are right to ask this question : because a marriage would signify 50-50 split of property . i've had friends tell me that in italy or france your wife can have an affair  , and if you have kids ..then she would get the house.and you have to move out .That's pretty tough but it does obviously take into account  the  welfare of the woman and kids.It ignores that one member of the relationship might be using the property as a signifcant part of their investment make up .. Making marriage almost a certain financial disaster or worse -mental anguish leading to health complications..marriage is a contract...if it is to survive ..then pre nup is a pre agreed solution to how to carve up the assets in the event of a separation or divorce.break it down to whats mine, whats hers ,whats ours..is how i understand it..

[Liverpool Lou]

On 4/23/2024 at 1:33 PM, simon43 said:

AFAIK pre-nups are not legal in Thailand.

 Section 1465-1493 of the Civil and Commercial Code debunks your "knowledge".