Question for those with legal knowledge.

[Lacessit]

10 minutes ago, JBChiangRai said:

 

Not normally no, but for Callum, I make an exception, knowing how he loves EV's.

Fair enough. Or is that post very much tongue in cheek?

Edited July 30 by Lacessit

[Hummin]

3 hours ago, CallumWK said:

 

She can not sell the land with a mortgage registered on the back. She can't even lease it or whatever

How much is the land worth, and how much mortage is it? If the land i in ger name, she can technically do whatever she wants with it, with you motage or not. Jus to release the mortage when she sells, or the bank takes it. 

[CallumWK]

3 hours ago, JBChiangRai said:

Incidentally, you don't own the house because your building contracts, building permits, payments etc are in your name.  You also have to have a contract with the land owner agreeing that you can build and will own the house.  The concept in law, is that the land owner owns everything built on the land unless it is specified contractually.

 

The landowner of course had to sign documents at the Orbotor that she agreed that I build a house on the land, and agreed that the license would be in my name.  So I'm pretty sure that everything is legally in my name.

3 hours ago, JBChiangRai said:

My experience with Thai lawyers is that in most cases they don't know the law and thus far, in all cases, they cannot be trusted.  I hope your lawyer did not use the word "mortgage" (in Thai obviously).

 

The  land department wrote mortgage in Thai language on the back of the title deed, and issued and stamped documents that have the heading land mortgage contract in Thai language. Maybe the land department also doesn't know the law.

There is a difference between a commercial lender, and someone who agrees to a one time mortgage.

 

4 hours ago, JBChiangRai said:

I am not wrong btw, my business builds entire housing estates.

 

Yes I know that, you have bragged about that in about every topic you enter, but in a recent topic you admitted that you stay here on an Elite visa.

So since you are so much concerned about legality, how do you run a Thai company on an Elite visa. As far as I'm aware, you can't get a work permit on that kind of visa.

[CallumWK]

4 hours ago, Berkshire said:

I'm sympathetic to your situation, not trying to come up with conspiracy theories.  The fact that you started this thread means you are a tad concerned.  Your friend is behind on 150k of payments, which means she's in a desperate financial situation.  It's not a stretch to suggest that she may employ desperate measures. 

 

I think I made it very clear already that I'm not concerned about my friend, and trust her 100%, my concerns are about what the bank can do.

[CallumWK]

4 hours ago, BakedPanda said:

The OP is ignorant enough to think he owns the land,

 

The only ignorant person here is a baked panda who can't read, because the OP clearly states.

 

9 hours ago, CallumWK said:

Yes, I know I can't own land in Thailand,

 

[CallumWK]

2 hours ago, Hummin said:

How much is the land worth, and how much mortage is it? If the land i in ger name, she can technically do whatever she wants with it, with you motage or not. Jus to release the mortage when she sells, or the bank takes it. 

 

No she can not do what she want. To release the mortgage she has to pay me, because I'm the mortgagee, not any bank.

[JBChiangRai]

4 minutes ago, CallumWK said:

Yes I know that, you have bragged about that in about every topic you enter, but in a recent topic you admitted that you stay here on an Elite visa.

So since you are so much concerned about legality, how do you run a Thai company on an Elite visa. As far as I'm aware, you can't get a work permit on that kind of visa.

You don’t need to work in a company to be a director of it.

 

And if you don’t work in it you don’t need a work permit.

 

I can see why you need legal advice, you know sweet Fanny Adams.

[CallumWK]

3 hours ago, CanadaSam said:

 

He is asking for legal advice.  How would a Thai woman living in the boonies know about Thai law?

 

Liverpool Lou got it correct, (by saying pretty much what I said about banks having preferences on outstanding debts including mortgages) after the bank forecloses on her own house, and if there is still money owing, they can go after his house (because the land is owned by her).

 

I asked her already. She bought the house in the moobaan 20 years ago, and it was paid off already.

 

She took a 100K mortgage during covid, and another 500K mortgage a year later, to pay for her daughters university.

 

She is now 130K behind on payments, and just got the first letter from the bank, so it will still be a long way before they repossess.

 

She has a buyer who want to pay 1.3 million for the house, so I have no worries that the bank will come after the land.

 

[Hummin]

4 minutes ago, CallumWK said:

 

No she can not do what she want. To release the mortgage she has to pay me, because I'm the mortgagee, not any bank.

You certainly managed to put yourself in a complicated situation, and I'm not sure how much your mortage us worth. Have it been given an apostle and legalized?  

[CallumWK]

5 minutes ago, JBChiangRai said:

You don’t need to work in a company to be a director of it.

 

And if you don’t work in it you don’t need a work permit.

 

I can see why you need legal advice, you know sweet Fanny Adams.

 

So it is NOT your company mister bragger. And you have already clearly shown your level of intelligence by bringing EV's in each and every unrelated thread,

 

Goodbye

[Tropicalevo]

6 hours ago, CallumWK said:

 

Thanks, I plan to visit her today and find out. You think that even if the bank can not recover by selling her house, they can touch land that has a mortgage registered on it?

The lending bank has first call on the land where your house is.

Are you paying the mortgage direct or through your friend?

[CallumWK]

Just now, Tropicalevo said:

The lending bank has first call on the land where your house is.

Are you paying the mortgage direct or through your friend?

 

Feel free to read the thread, there is no bank involved in the mortgage on the land, and I have explained that already

[Captain Flack]

At the request of the OP this topic is closed, as the poster now has the answer.