Jbragg Posted February 26, 2008 Share Posted February 26, 2008 Need to know my options. I have recently bought a house in my Thai wife's name. I paid cash and have about 8 mil invested with upgrades. We are leaveing for my home country soon but want to make sure I still have some control on my house. Not that I expect any problems but always found it better to cover my A$$. What would be the best way to have this house under my control and not have her just take it if something comes up and she decides not to stay in my home country. She says she has no problems doing what we need to get this done before we leave. Any help would be great. Thanks in advance. Link to comment Share on other sites More sharing options...
lazeeboy Posted February 26, 2008 Share Posted February 26, 2008 contact a lawyer and lease the house in your name for 30 years ,she still owns the land but cant borrow money against it as you own the house on the land legally Link to comment Share on other sites More sharing options...
JohnC Posted February 26, 2008 Share Posted February 26, 2008 contact a lawyer and lease the house in your name for 30 years ,she still owns the land but cant borrow money against it as you own the house on the land legally Absolutely! Even without leaving the country you need to get your affairs in order, what happens if your wife pre-deceases you? her family could throw you out and sell the property (not an usual occurence here in LOS!) As with all things its better to see a lawyer now rather than later when you may have problems and if you indicate where in Thailand you live Im sure someone will recommend a good lawyer. Link to comment Share on other sites More sharing options...
Khun Jean Posted February 26, 2008 Share Posted February 26, 2008 The house is 50% yours. The land is not and never will be. Get a 30 year lease on the land. The house one way or the other is a shared asset so no need to bother putting it in your name or leasing it. Link to comment Share on other sites More sharing options...
Irene Posted February 27, 2008 Share Posted February 27, 2008 Besides what have been recommended, if you can get the facilities, you can have the house mortgaged with a bank for a long period (10 years and over). You get back part of the fund then slowly pay back the loan. Link to comment Share on other sites More sharing options...
PattayaParent Posted February 27, 2008 Share Posted February 27, 2008 The house is 50% yours. The land is not and never will be. Get a 30 year lease on the land. The house one way or the other is a shared asset so no need to bother putting it in your name or leasing it. but make sure your wife leaves the house to you in her Will otherwise the rellies will be able to get their hands on it (or her part of it) Link to comment Share on other sites More sharing options...
Khun Jean Posted February 27, 2008 Share Posted February 27, 2008 It is all only when everything goes your way. Even the 50% of the house value. What if the wife does not want to cooperate with leasing/selling/usufruct the land to the new house owner. In that case a house is worth nothing. Take her to court? How many years you want to wait for the decision? If things not go your way consider it all gone. Great laws for Thais. Consider this: You: "My dear i invested a lot of money and want to protect myself. Can you cooperate with me and give me a lease (will not work*) or better a usufruct (will not work either*)." Your wife: "of course darling" while thinking "he doesn't trust me." or "Why, you not trust me" while thinking "has he got a new girlfriend" Great choices. *) not work because you are already married. Everything signed between you two while married can be voided. Link to comment Share on other sites More sharing options...
Jbragg Posted February 28, 2008 Author Share Posted February 28, 2008 If I opened a Company which I intend to do anyway. Could I just transfer the asset to the company. Ethier way she is intitled to 50%. That is not the issue. Not worried about her running off with it. Just want to keep some sort of control over it and protect my long term interst. Link to comment Share on other sites More sharing options...
Jbragg Posted March 5, 2008 Author Share Posted March 5, 2008 If I opened a Company which I intend to do anyway. Could I just transfer the asset to the company. Ethier way she is intitled to 50%. That is not the issue. Not worried about her running off with it. Just want to keep some sort of control over it and protect my long term interst. Anyone have any comments on this? Link to comment Share on other sites More sharing options...
JohnC Posted March 5, 2008 Share Posted March 5, 2008 If I opened a Company which I intend to do anyway. Could I just transfer the asset to the company. Ethier way she is intitled to 50%. That is not the issue. Not worried about her running off with it. Just want to keep some sort of control over it and protect my long term interst. Maybe opening a different can of worms as you can only own 49% of the company plus with the problems with the previous elected government it became difficult to get companies registered. In addition companies become liable for tax and annual balance sheets tehreby incurring annual accountancy costs. My own view is a 30 year lease from your wife or usfruct are the best options, however, no doubt others will differ. Link to comment Share on other sites More sharing options...
jonniebkk Posted March 6, 2008 Share Posted March 6, 2008 if you do go the 30 year lease route...don't forget to register it at the local land office (pay small tax too) to make it all nice and legally binding. Link to comment Share on other sites More sharing options...
Jbragg Posted March 6, 2008 Author Share Posted March 6, 2008 On the 30 year lease can that be voided by her if we were to ever have problems. Also can it be put in an extra 30 to keep it secure up to 60 years? Link to comment Share on other sites More sharing options...
Khun Jean Posted March 6, 2008 Share Posted March 6, 2008 Yes the lease can be voided. Read more about leases and renewals HERE! And please reply in that topic to keep it current. Link to comment Share on other sites More sharing options...
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