Buying A Condo

[lovecam]

Myself ( UK) and my wife (Thai) are in the process of buying a condo in Bangkok. Now we already have money in thailand in a joint account. This money was put there last year transferred from uk to thailand in baht (so cant get a tor tor sam).

If we dont get a morgage for the condo and we have to pay for it outright seeing as it would have to go into my wife's name would it be possible, like land, for her to lease the condo to me for thirty years plus another thirty year extension.

Any replies would be mostly appreciated.

Thanks

J

[Khun ?]

Send the money back to your home bank. Tell your bank not to accept it and have it returned to the thai bank in a few days.

Have the bank in Thailand accept the money back for reason of purchasing a house. Buy the condo in your name regardless of how much you trust your wife.

Foreigners can buy condo's with no problems

[Tufty]

Now we already have money in thailand in a joint account. This money was put there last year transferred from uk to thailand in baht (so cant get a tor tor sam).

I am considering buying a condo next year (on my own) and although my money is in the UK now and would be transfered to my Thai account before the purchase I don't understand what you are talking about what is a tor tor sam where do I get one and is there anything else I would need (apart from a lawyer)

[Sunbelt Asia]

Send the money back to your home bank. Tell your bank not to accept it and have it returned to the thai bank in a few days.

The problem Khun? with that advice is lovecam stated

This money was put there last year transferred from uk to thailand in baht (so cant get a tor tor sam).

Hence he can't send it back to the UK and then back again.

would it be possible, like land, for her to lease the condo to me for thirty years plus another thirty year extension.

Yes if the lease was registered with the Thai government.

Tufty asked

would be transfered to my Thai account before the purchase I don't understand what you are talking about what is a tor tor sam where do I get one and is there anything else I would need (apart from a lawyer)

When you wire the funds you put " For purchase of Condo" In Thailand you ask your bank for a receipt called a "Tor Tor 3"

www.sunbeltasia.com

[lovecam]

thank you sunbelt for the reply.

when you said 'Yes if the lease was registered with the Thai government', do you mean the land registry office.

also i have been told, but i do not know for certain untill i arrive in thailand next week, that the bank will issue a tor tor sam to me (not sure if it is true) even though the money is already in thailand.

maybe if the bank is in a good mood they will help out

what do u think?

thanks

[Sunbelt Asia]

do you mean the land registry office.

The 30 year lease with option can be registered at the Amphur (district) land office. Proof of ownership, must be established with the document showing the previous sale-purchase.

Good luck on the Tor Tor 3. I would take a nice gift for the person who is helping!

www.sunbeltasia.com

[lovecam]

thanks sunbelt

basically it seems like it is the same procedure when a thai wife buys land and the foreigner takes a 30 year lease.

you have to take the land title deed to the land registry. in a condo instance you take the title deed of the condo. this being in my wife's name.

thanks again for your help sunbelt

[astral]

I think you have already made the most basic blunder.

The money needs to come in as foregn currency to meet the rules to buy a condo!

[lovecam]

yes i know we have made a blunder but this is thailand (TIT) and hopefully it can be sorted out