Everything You Wanted To Know About Usufruct Agreements In Thailand

[surayu]

As far as I know, with the situation as described, you can't protect yourself. Be a good husband, I suppose!

Seriously, unless you can transfer the freehold title to someone else, you're a bit stuck. Do you have offspring who you could 'gift' the title to?

No offspring and no intention to have any, i am thinking about using a relative of mine from back home, do they have to be phisically present to be named as a such?

[choppychugger]

Choppy, thanks very much for the clear and detailed reply... I'm looking at the prospect of wanting to do something similar soon (in BKK, not Phuket), so your experience was of great interest.... Congrats on getting your deal through....

Two followups....

1. Do you have any idea, if you went to do the same SCB deal today, whether it would be similarly approved? Meaning, do you think they've changed the rules/closed the door since the time of your application?

2. What kind of income to debt ratios were they looking for for you as the guarantor.... In other words, for an SCB loan with a 50,000 baht per month payment, how much monthly income did they want you to show as a minimum for approval???

Thanks again... very much!!!

Hi

No problem with the info, and thanks it all went alot smoother than we anticipated.

1. I would'nt say the door is closed, just that it would be more difficult to do today as the banks seemed to have really tightened up. No comment on the rules as I'm not entirely sure what they are with regards to qualifying. It was around November just gone that it all went ahead. Knowing the devleoper/seller aswell as them being on friendly terms with the manager doesnt do any harm also

2. I showed monthly take home of 450-550 k thb. Could of got it a bit lower on the payments, but we decided to budget 100k a month for the house - split between the 2 banks.

Choppy

[Lannatyne]

As far as I know, with the situation as described, you can't protect yourself. Be a good husband, I suppose!

Seriously, unless you can transfer the freehold title to someone else, you're a bit stuck. Do you have offspring who you could 'gift' the title to?

No offspring and no intention to have any, i am thinking about using a relative of mine from back home, do they have to be phisically present to be named as a such?

Strangely enough, you're the second person to ask me this in a week. As my own lawyer is away on holiday, I can't give a definitive answer yet. However, my guess is that either a Power of Attorney would work, or all paperwork could be sent overseas and witnessed at the local Thai consulate / embassy.

The relative would be a good move. Once he or she has the usufruct from your wife, then job's done. It may be a while before I can get an answer on this, so maybe someone else out there can do it?

If I see nothing, will post a response when my lawyer gets back.

[stgrhe]

Issanlawyers, here is my question: I have lived in Thailand a long time and will eventually divorce my Thai wife. Lets just say we have had alot of problems over the years, mostly due to her doing things without telling me, and then me having to deal with the legal consequences (gambling, etc). Thus I don't want to put my 'Thai future' legally in the hands of another Thai, and thus want my own independence to buy some land and build a small house and do this under my own control. I have children with my wife and I am on good terms with my wife. We currently have several court cases complete and a new case by myself regarding a third party (the gambling den) trying to strip my wife of her assets (which are really mine since I provided the money). My new court case is to prove that I provided the funds for our house/car and I was not aware of my wifes actions; if we can prove this then the third party don't have the right to 100% of the assets (currently seized by the court).

I asked my lawyer if I could buy land under my childrens name (daughter is 8) and then do a usufruct to give me control of the land until I die. Then my daughter would get back control (its my intention to leave my estate to my children anyway). I would buy some land in an area where my wife's family dont reside and there are a number of farangs for friends and there are reasonable facilities (good transport, 7/11, ADSL, Big C, a national park, but still in the country; also I already have some Thai friends in this area). My lawyer called the land dept and they said that the money for buying the land would have to come from my wife and not from me. But in theory I could give the money for the land as a gift to my daughter and then it would be her money to buy the land? My concerns would be if my wife could interfere, and thus get control of the land (even if a usufruct is in place?). The concept of this is to provide an alternative family home for my children without interference or control from my wife or another Thai, which I can enjoy into my retirement. I am sure my wife would respect my wishes regarding this usufruct, but anyone can change their mind and get nasty? My lawyer advises that selling of land owned by children under legal age has to be approved by the court.

The intention is to divorce my wife once the current court cases are settled (this is my lawyers advice). My lawyers usufruct knowledge seems a little weak, hence why I am asking you.

Your advice would be much appreciated. Many thanks in advance.

MaiChai,

Your situation appears to be a trick one so I would suggest to you that you go to Korat and discuss the matter with Sebastien and his associates at Isaan Lawyers. They are a very good law firm based on my experience with them and they are also my family lawyer. Given your situation you are unlikely to get the right advice here on the forum.

Good luck mate!

[Gary A]

Great post - Have read through everything and need some advice as my case doesnt seem to be in amongst all the posts.

* Am not married been with partner for 5 years - Me 29 yrs Her 27 years 3 yr old son together

* Recently borrowed money from SCB me as garuntor for partner to purchase a house - House/land is in wifes name

Is it easy enough to get the usufruct now even though we have done the deal with the bank and registered the house in her name?

Where do I stand legelly in my present situation if :

1. The death of my partner ?

2. We split up?

3. We arent planning on getting married, is that better or not with regards to the usufruct?

I guess my main worry is protecting the house in the event that something happens to my partner.

Thanks in advance,

Choppy

The problem you may have to setting up a usufruct is that the bank may not let you as they will hold the deeds of the property unless you have given them something else as guarantee for the loan. It is a lot better for you to setup a usufruct before you marry as the contract may be revoked in the case of Divorce if you set it up when married.

1. You will be able to legally live & use the property & land for as long as the usufruct is in force.

2. your partner can sell the property & Land & you can still live & use that property & land so its not easy to sell that is up to you.

3. It does not matter what you do after the usufruct is setup before marriage.

Trusting your wife has nothing to do with setting up a usufruct it is in most cases to protect you from her family in the event of your wife's death but a good written will is also a good thing to have to protect you & Your wife in case of death.

regards

Scotsman

I enjoy living out in the boonies, BUT, if something were to happen to my wife, no way could I live here alone. Even if our relationship were to go bad and I had the right to make her leave, no way would I stay here. Without my wife, I'd be headed back to the farang ghettos.

[ThaiLawOnline]

I personally wrote that article 15 years ago when nobody was doing usufruct. I believe the admin will let me put a link to the updated version that I made here:

 

http://thailawonline.com/usufruct-agreements-thailand/

 

If not, dear admins, DELETE all this topics because it is under my copyrights. Thanks.

 

Sebastien H. Brousseau.