Question regarding condo purchase with spouse (both foreigners)

[SideOut]

Hi everyone, 

 

As the title suggests, my wife and I are considering purchasing a condo in Thailand. We are both foreigners. I have a few questions regarding the best way to go about this.

 

1. The agent that we are dealing with has told us that it is possible to add both of our names to the chanote. However, we do not have any joint accounts, so the money from overseas would only come from my wife's account. The agent has told us that if we specify on the FET that the money is specifically for purchasing a condo in both of our names, that we can add my name to the chanote as well. Is this accurate, or does the money need to come from a joint account?

 

2. Our main reason for preferring both names on the chanote is to avoid any potentially messy/expensive situation if one of us were to pass away. I am assuming that it would be easier for the other party to continue owning the condo if their name was already on the chanote VS if it was simply left to them in a will? Perhaps my assumption is wrong.

 

3. If we decide to only add one of our names to the chanote, would it be possible to leave the condo to the surviving spouse in a will? (Foreign spouse to foreign spouse?) Is this possible in Thailand? I would assume that this route might include inheritance/gift tax? 

 

I did see the similar thread regarding joint condo ownership, but that thread left several questions unanswered.

 

Thank you for in advance for any clarification of these questions.

[Drumbuie]

If you are resident in Thailand, Thai citizen or not, you can get free advice on wills from the Office of the Attorney General ( use Google Maps to search for your nearest Office). 

 

[J Branche]

You need to check with a professional but why would the money coming from one person have anything to do with whose names you want on the Chanote?

 

Yes we paid 6000 baht for a popular attorney to create wills for use leaving the Condo to the other if one should pass.

 

There should be no gift tax as it would only be half of the total price possibly gifted.  Unless the property is valued over 20 million baht as the current tax free gift rate is 10 million baht per person per year.

[Unamerican]

On 6/4/2025 at 9:46 PM, SideOut said:

The agent has told us that if we specify on the FET that the money is specifically for purchasing a condo in both of our names, that we can add my name to the chanote as well. Is this accurate, or does the money need to come from a joint account?

This worked for my partner and I — 10+ years ago. 

[Unamerican]

39 minutes ago, J Branche said:

Yes we paid 6000 baht for a popular attorney to create wills for us leaving the Condo to the other if one should pass.

I have been told that this is not essential since the chanote should get changed anyway at zero cost! 

BUT, “not many officials know this”! 

[Unamerican]

But who buys a condo for less than 20 million ?? 🙂 🙂 

[Dogbarker]

Well I did...

[Arkady]

I agree it makes sense to do whatever is necessary to put both names on the chanote for the condo.  That way, in the event of one of you predeceasing the other, the surviving spouse only needs to transfer half of the property.  That would reduce the amount of tax and fees at the land office.  There is a reduced rate of tax for transfers to direct family, as in the case of inheritances, but I do not think it applies to foreigners.  I transferred a half share in my house from my Thai wife to myself when I obtained Thai citizenship but was told at the Land Office the reduced rate didn't apply to me because I was not Thai at the time the property was purchased in the wife's name. So I had to pay the full rate on half the appraised value of the land and house which annoyed me but nothing could be done about that.  I came across the same regulation in a Land Office in another province later on which confirmed that this nonsensical regulation does exist. 

 

The reduced rate not being applicable to foreigners would make it more worthwhile to have both names on the chanote.

[Suitcase]

On 6/4/2025 at 9:46 AM, SideOut said:

Hi everyone, 

 

As the title suggests, my wife and I are considering purchasing a condo in Thailand. We are both foreigners. I have a few questions regarding the best way to go about this.

 

1. The agent that we are dealing with has told us that it is possible to add both of our names to the chanote. However, we do not have any joint accounts, so the money from overseas would only come from my wife's account. The agent has told us that if we specify on the FET that the money is specifically for purchasing a condo in both of our names, that we can add my name to the chanote as well. Is this accurate, or does the money need to come from a joint account?

 

2. Our main reason for preferring both names on the chanote is to avoid any potentially messy/expensive situation if one of us were to pass away. I am assuming that it would be easier for the other party to continue owning the condo if their name was already on the chanote VS if it was simply left to them in a will? Perhaps my assumption is wrong.

 

3. If we decide to only add one of our names to the chanote, would it be possible to leave the condo to the surviving spouse in a will? (Foreign spouse to foreign spouse?) Is this possible in Thailand? I would assume that this route might include inheritance/gift tax? 

 

I did see the similar thread regarding joint condo ownership, but that thread left several questions unanswered.

 

Thank you for in advance for any clarification of these questions.

 

On 6/4/2025 at 9:46 AM, SideOut said:

Hi everyone, 

 

As the title suggests, my wife and I are considering purchasing a condo in Thailand. We are both foreigners. I have a few questions regarding the best way to go about this.

 

1. The agent that we are dealing with has told us that it is possible to add both of our names to the chanote. However, we do not have any joint accounts, so the money from overseas would only come from my wife's account. The agent has told us that if we specify on the FET that the money is specifically for purchasing a condo in both of our names, that we can add my name to the chanote as well. Is this accurate, or does the money need to come from a joint account?

 

2. Our main reason for preferring both names on the chanote is to avoid any potentially messy/expensive situation if one of us were to pass away. I am assuming that it would be easier for the other party to continue owning the condo if their name was already on the chanote VS if it was simply left to them in a will? Perhaps my assumption is wrong.

 

3. If we decide to only add one of our names to the chanote, would it be possible to leave the condo to the surviving spouse in a will? (Foreign spouse to foreign spouse?) Is this possible in Thailand? I would assume that this route might include inheritance/gift tax? 

 

I did see the similar thread regarding joint condo ownership, but that thread left several questions unanswered.

 

Thank you for in advance for any clarification of these questions.

Rent don’t buy
 

When you buy, you’re stuck in one place

[newnative]

48 minutes ago, Suitcase said:

 

Rent don’t buy
 

When you buy, you’re stuck in one place

No, you aren't.  Spouse and I have owned and moved about a dozen times in our 15 years here.

[Sophon]

9 hours ago, J Branche said:

You need to check with a professional but why would the money coming from one person have anything to do with whose names you want on the Chanote?

 

Yes we paid 6000 baht for a popular attorney to create wills for use leaving the Condo to the other if one should pass.

 

There should be no gift tax as it would only be half of the total price possibly gifted.  Unless the property is valued over 20 million baht as the current tax free gift rate is 10 million baht per person per year.

 

As you state, the current tax free exemption for gifts is THB 10 million, but that is for gifts between people who are not related. For gifts to close relatives and spouses, the tax free exemption is THB 20 million.

 

For inheritances, there is a tax free exemption of THB 100 million. Inheritances between spouses are exempt from tax irrespective of the value of the estate.