Buying A House With Wife

[skybluestu]

Hi,

hopefully someone can shed some light on this for me. I will be buying a house with my new wife shortly, 50% Mortgage through SCB, the other 50% paid by me and I will be guarantor on her mortgage application and will be making the repayments. I'm aware I will have to waive my rights to the land ownership but is there somewhere that will confirm that I am the owner of the house?

Thanks in advance

Stuart

[bkkjames]

Hi,

hopefully someone can shed some light on this for me. I will be buying a house with my new wife shortly, 50% Mortgage through SCB, the other 50% paid by me and I will be guarantor on her mortgage application and will be making the repayments. I'm aware I will have to waive my rights to the land ownership but is there somewhere that will confirm that I am the owner of the house?

Thanks in advance

Stuart

Sorry Stuart, can't help you. But it's got me thinking with so many farangs buying houses for their mrs', and all the associated headaches and heartaches, why doesn't someone start a houseboat business here, could be on the chao phraya, mekong, ocean wherever. No land issues. Good fishing.

[zorro1]

What good is the house without land? you could move it but then you would need a new Thai missus for the next plot.

[chiangmaibruce]

Stuart, You need to go and talk to a lawyer right away.

Issue 1. I believe that it difficult or even impossible to separate ownership when the house is already built upon the land when your wife buys it

Issue 2. Even if you can sort out issue 1 then the bank may not agree to proceed with the mortgage on that basis, they may say no or they could even require two mortgages - one over the land and one over the house

[Livinginexile]

Hi

I know someone who recently tried to get some of his money after his wife kicked him out of their home.

Even going through the courts he got nothing!

Be very carefull my friend.

[Livinginexile]

Why don't you just buy a condo?

You can have full ownership then.

It sure would test the Mrs loyalty if you brought this subject up.

Tell her "lets get a condo first, then we can rent it out and it will help pay the mortgage"

See what she sez

[gymshark]

Who cares whose name it is in if you are married? There is not such a housing market here as in the West, what will you do if you split up? Take your house away? I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses.

Alternatively if she did the dirty on you I guess you could torch the place?

If you are in a stable relationship and it is her mortgage anyway it doesn't matter whose name it is in.

IMO

[billd766]

Who cares whose name it is in if you are married? There is not such a housing market here as in the West, what will you do if you split up? Take your house away? I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses.

Alternatively if she did the dirty on you I guess you could torch the place?

If you are in a stable relationship and it is her mortgage anyway it doesn't matter whose name it is in.

IMO

I think that is the most sensible post I have seen on this subject for a long time.

[Livinginexile]

Who cares whose name it is in if you are married? There is not such a housing market here as in the West, what will you do if you split up? Take your house away? I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses. Alternatively if she did the dirty on you I guess you could torch the place?

If you are in a stable relationship and it is her mortgage anyway it doesn't matter whose name it is in.

IMO

I think that is the most sensible post I have seen on this subject for a long time.

Really!!

So you agree with the statement....

"I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses". ???

You are saying this is a sensible thing to do? Walk away and give her everything?

[BigSnake]

You love her, trust her go for it, however I must echo the point other have made here seek some legal advice along the way, stay clear of lawyers if you can they are like most world wide ie, not to trustworty. GOOD LUCK, hope things workout for you.

[12DrinkMore]

You love her, trust her go for it,

Are you a "her" by the way?

[poshthai]

get a lawyer to produce a life term partnership agreement and agree that if you split up she gets half of the sale of house or value of house or sort a cost if divorced.I have done this and if we split she gets half of the value of the house when we purchased it.If she dies first i get the house fully,via a company set up or i sell it.

[F1fanatic]

Who cares whose name it is in if you are married? There is not such a housing market here as in the West, what will you do if you split up? Take your house away? I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses.

Alternatively if she did the dirty on you I guess you could torch the place?

If you are in a stable relationship and it is her mortgage anyway it doesn't matter whose name it is in.

IMO

I think that is the most sensible post I have seen on this subject for a long time.

Sensible?!?!

He said he is paying the mortgage and is guarantor on it, so if he torches it not only will the family be after his life (and they will!), the bank will be after him too!

The only practical advice he offered was to suggest walking away, letting her have the house and cutting his losses when it all went wrong. He spoilt it though, by saying that is what happens in other countries. Oh no it doesn't, certainly not in the West!

[12DrinkMore]

He said he is paying the mortgage and is guarantor on it, so if he torches it not only will the family be after his life (and they will!), the bank will be after him too!

The only practical advice he offered was to suggest walking away, letting her have the house and cutting his losses when it all went wrong. He spoilt it though, by saying that is what happens in other countries. Oh no it doesn't, certainly not in the West!

Even if he walked away, he would still have to carry on paying the mortgage

[billd766]

Who cares whose name it is in if you are married? There is not such a housing market here as in the West, what will you do if you split up? Take your house away? I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses. Alternatively if she did the dirty on you I guess you could torch the place?

If you are in a stable relationship and it is her mortgage anyway it doesn't matter whose name it is in.

IMO

I think that is the most sensible post I have seen on this subject for a long time.

Really!!

So you agree with the statement....

"I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses". ???

You are saying this is a sensible thing to do? Walk away and give her everything?

Been there and done that already in the UK AND I was paying a load of money for the mortgage in the UK for a few years afterwards.

If you don't believe that try divorcing in the UK after being married a few years.

[John_Rambo]

You love her, trust her go for it,

This guy must be a troll

[Maigo6]

I really think it depends on your financial situation, If you are gonna blow your lifes savings on a house in Thailand then struggle to survive, I'd say don't do it.

If on the other hand you are able to walk away from a house and carry on with your life as normal, then why not go for it.

We have all heard the stories of Farangs getting ripped off by Thai women, yet there are also stories of Thai women spending the best years of their lives with Farangs in rented accomodation who get dumped for a younger women eventually and are left with nothing.

This country does not have the welfare system to help these women out, the Farang can just walk away and carry on as usual, leaving his partner of sometimes many years, destitute.

It works both ways, but Farangs have passports enabling them to move back to their home countries where at least they have some rights to benefits/ handouts from the state etc etc, in Thailand things are different.

I have a very nice house that isn't in my name, no company ownership, do I care ? No, or I wouldn't be in that situation in the first place.

Could I afford to walk away and still have a very nice life ? Yep, that's why I'm in the situation I'm in.

Of course if you're struggling on a pittance in Thailand, your views will be different to mine.

Edited August 21, 2008 by Maigo6

[GuestHouse]

I can sort of understand someone giving away cash that they own (well it's up to them what they do whith their money).

But borrowing money in order to give it away.... Doh!

--

Buy a condo and be happy in the knowledge that you and your wife can share it as a marrital asset in which you can both have a shared interest.

[Jeddah Jo]

I can sort of understand someone giving away cash that they own (well it's up to them what they do whith their money).

But borrowing money in order to give it away.... Doh!

--

Buy a condo and be happy in the knowledge that you and your wife can share it as a marrital asset in which you can both have a shared interest.

Eeek, that is a truly horrible thought. Borrowing money in order to give it away. You would effectively end up working for your missus

Then she can give you the sack and pay no redundancy benefits either!

[Livinginexile]

Who cares whose name it is in if you are married? There is not such a housing market here as in the West, what will you do if you split up? Take your house away? I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses. Alternatively if she did the dirty on you I guess you could torch the place?

If you are in a stable relationship and it is her mortgage anyway it doesn't matter whose name it is in.

IMO

I think that is the most sensible post I have seen on this subject for a long time.

Really!!

So you agree with the statement....

"I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses". ???

You are saying this is a sensible thing to do? Walk away and give her everything?

Been there and done that already in the UK AND I was paying a load of money for the mortgage in the UK for a few years afterwards.

If you don't believe that try divorcing in the UK after being married a few years.

Well Bill

Looks like your the type of person that women can walk all over, I bet your wife absolutely loves you

I've been through 2 divorces and came out of both with a fair and equitable share.

No complaints whatsoever.

But to sugest walking away and giving her everything!!

Thats just plain stupid

[roygsd]

Who cares whose name it is in if you are married? There is not such a housing market here as in the West, what will you do if you split up? Take your house away?

I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses.Alternatively if she did the dirty on you I guess you could torch the place?

If you are in a stable relationship and it is her mortgage anyway it doesn't matter whose name it is in.

IMO

I think that is the most sensible post I have seen on this subject for a long time.

IS that really you Stevie Wonder???

I think the two lines higlighted above confirm that both posters should be henceforth known as stupid 1. and stupid 2.

roy gsd

[gymshark]

Who cares whose name it is in if you are married? There is not such a housing market here as in the West, what will you do if you split up? Take your house away?

I think when we get married in any country if for some reason you were to split up then you walk away, let her have the house and cut your losses.Alternatively if she did the dirty on you I guess you could torch the place?

If you are in a stable relationship and it is her mortgage anyway it doesn't matter whose name it is in.

IMO

I think that is the most sensible post I have seen on this subject for a long time.

IS that really you Stevie Wonder???

I think the two lines higlighted above confirm that both posters should be henceforth known as stupid 1. and stupid 2.

roy gsd

Mind your manners big mouth.

[Bangyai]

Hi,

Stuart

Sorry Stuart, can't help you. But it's got me thinking with so many farangs buying houses for their mrs', and all the associated headaches and heartaches, why doesn't someone start a houseboat business here, could be on the chao phraya, mekong, ocean wherever. No land issues. Good fishing.

Probably said in jest but hey...not a bad idea ! Imagine you could get a pretty nice Teak rice barge all converted to high standards for 500,000 baht. Where would your permanent mooring be though ?

[Huey]

If you put it in her name think of it as a gift to her and nothing more.

[Maigo6]

If you put it in her name think of it as a gift to her and nothing more.

Ummm, he'll probably be living there too.

[hansnl]

Hi,

hopefully someone can shed some light on this for me. I will be buying a house with my new wife shortly, 50% Mortgage through SCB, the other 50% paid by me and I will be guarantor on her mortgage application and will be making the repayments. I'm aware I will have to waive my rights to the land ownership but is there somewhere that will confirm that I am the owner of the house?

Thanks in advance

Stuart

Possible!

You own the house, the woman owns the land.

Called Usefruct.

Pay groundrent to the woman.

Duration example 30 years, land 300,000 baht, groundrent 10,000 baht per year.

Next step:

Make a will/testament in which the house stays with you and the land goes to someone else, if she dies first, of course with the groundrent fixed for the duration of the agreement.

If you die first, oh well, up to you!

Mortgage:

The mortgage will be in two names anyway, so two mortgages for land and house will make things ok again.

Find yourself a good lawyer who knows about these things.

I have all paperwork in Thai and English.

The price of the legal work was 72,000 baht.

The price of the house was 1,8 M

Did it again with the former house of my wife.

Same same as above.

Price of the house 1,0 M

Land was valued at 280,000 B

Two mortgages, one for the ground, one for the house.

Both in our names.

Intrest on both loans, 4,75%, because of security of 2 houses, and the famous 800,000 baht in the bank for the visa circus.

Ground in her name

House in my name

I pay into her own account 1000 baht a month for the land rent.

Yes, I know, it is too much.

Legal work, total 30,000 baht, cheaper because only some things needed to be changed in the paperwork.

Try it out, it must be possible

Edited August 24, 2008 by hansnl

[DNPBC0]

Usufruct is the legal right to use and derive profit or benefit from property that belongs to another person, as long as the property is not damaged. It does not give you ownership, but just about everything else and could be cheaper than a lease. See:

http://www.isaanlawyers.com/Usufruct%20agr...%20Thailand.pdf

[bendix]

Reading through this thread - and so many others - it strikes me how unhappy so many farang are with their lives in Thailand and - presumably - in their relationships.

I pity them. They've transplanted their miserable relationships in the west to miserable untrusting relationships here.

What, I wonder, is the common denominator?

[slapout]

experience or lack of same

[Naam]

Reading through this thread - and so many others - it strikes me how unhappy so many farang are with their lives in Thailand and - presumably - in their relationships.

I pity them. They've transplanted their miserable relationships in the west to miserable untrusting relationships here.

What, I wonder, is the common denominator?

thai pussy?