Most Secure Method Of Buying Property In Thailand?

[Mally]

Hi Jonnyk,

Thanks for your advise on this, but for usufruct I need a TGF don't I ?

To answer your questions, I have been to Issan 5 times now on vacation and love their pace (or lack of it) of life. I've found the people friendly (both farang & Thai) and the cost of housing and living to be very low. I'll be retiring on just a small private pension, my state pension, and rent from my house in UK, so the high life of BKK etc are out of my reach, also I've only got a budget of 3M baht to buy & furnish a house.

As for a TGF, well I know quite a few girls to go out with, and have 1 special one that stays with me whilst I'm in Udon Thani, BUT I'm still far from sure that she's the final one, and I don't want to put a house in her (or anybody's) name until I am sure, Ive read all about the trouble that can happen on a split up and want to avoid this if possible. Also, if I did tie it up legally and was allowed to stay in the home after a split, what would the reaction be when I moved another girl in when she still legally owned the land ?

So back to my question, can you get a legally binding long term rental agreement in Thailand ?

It seems to be my only option until I find Mrs Right !

Regards,

Mally

[donx]

My comments are in red below.

Thanks for your advise on this, but for usufruct I need a TGF don't I ?

No, you don't need a TGF. You can have a usufruct placed on any land owned by any Thai that has a Chanote title. Find someone selling a land plot and tell them you will pay the same as if you were buying the land but have a usufruct placed on the land instead. Or do the same thing with a 30 year lease registered on the land title.

So back to my question, can you get a legally binding long term rental agreement in Thailand ?

It seems to be my only option until I find Mrs Right !

It is one option but not your only option. If I were you, since you are looking in Isaan, I would PM (send a private message) to IsaanLawyer who posts often in this forum. His firm helps farang with either usufruct or 30 year lease depending upon what makes the most sense for a particular client.

[Naam]

@Naam - re: "i checked that out several years ago." Both the 40 mil and the 'trust"?

yes, both Klikster. the trust is a hoax and the 40mm investment as per the rules of the Board of Investment is a nightmare. having said so, as far as the 40mm are concerned my lawyers in BKK followed the letters of the regulations and did some enquiries with the authorities to be involved (status as of autumn 2004).

perhaps there is a way to circumvent the strict regulations. but that means that you are sailing in uncharted waters bordering illegality or perhaps as "illegal" as the company route.

[Mally]

Thanks for your comments Donx, what you are saying seems to make sense to me and is worth me following up. I will be contacting Isaanlawyer shortly, I'll be visiting LOS again in about 8 weeks so if I can get things in place by then I can start house hunting.

Thanks again.

Mally.

[robee]

My 2 cents only, again.

I always wonder and still do not understand why so many people just rush into buying a house in LOS and believe it to be a sound investment.

The golden rule for Falang in LOS is: Never invest more than you are ready to loose!

This is a standard phrase I admit and often heard here in Thailand and then again somebody has to show me first a property investment that works for Falangs and is indeed an investment and not just a money transfer from my present account.

If one invests that amount of money in a safer place at nominal risk he/she can run a fairly decent lifestyle here and still owns most of his/her capital.

Good point and excellent advice.

[bateman75]

Hi All,

I recently bought a 12 million Bht house in my girlfriends name. Before this we had bought a 7 million bht house (That is still not sold but trying).

We have a 1 year old daughter and just had a baby son about a week ago.

According to my girlfriend the title of the proprety would automatically pass to my daughter if she died.

Now I have lived here for over 3 years and I have lost count of the number of Ex Pat friends that have told me how stupid I am going down this route.. but..

I am very happy here and very happy with my girlfriend and our children .... but I am far from stupid.

I have been married 3 times in the UK before.. and each time its cost me the house.. so why should Thailand be any different?

If I am stupid enough to be lured away from my current partner by a stunning young body in Cowboy then I would argue its my own fault.

If this happened I would want a safe and secure enviroment for my children to grow up anyway.

I think the bottom line comes down to your choice of partner here in Thailand. Now no one can call me an expert on this since I have been married 3 times before but I do consider myself a good judge of character and apply common sense to my choices.

I have had several girlfriends here before that I would never even consider buying property in their names.

I do own a Condo in my own name in Sukhumvit as a fall back if it all goes wrong... but as a previous poster stated.. there are no practice runs.. this is life so live it.

[mouse]

Given your post (and that you just signed up) I would strongly recommend that you spend a couple of hours reading back through the many relevant discussion threads in this forum (use search function top right of this page) plus review the samuiforsale.com web site.

- if by shell company, you mean nominee company, they they are illegal

- the validity of 30+30 year leases are extremely dubious (see very good thread on this topic)

- you can buy property in the name of your minor daughter (refer earlier threads on this topics)

- for covenant read 'usufruct', can do (see several relevant threads)

"safe" and "secure" are relative terms with regard to Thai property - basically all your options here have some real and/or potential weaknesses in this regard. probably the best contender would be a foreigner condo but i am assuming you are talking about house/land

there is no one most safe and secure option for all people and all properties .... too many variables including your personal circumstances, the specific nature of the property you are interested in and so on ... you will see what I mean after you read the above material

I write to you from the home and property that is owned by my 8 year old daughter. Make sure you have a prenep agreement that states in the event of divorce or end of relationship in any manner, that you get sole custody of the child that owns the property. Remember that everything on paper is only as good as the people that agree to it.

[chiangmaibruce]

According to my girlfriend the title of the proprety would automatically pass to my daughter if she died.

Hi Bateman

I'm no lawyer but .... unless your GF has made special provision for this in her will, then what you GF is saying is not necessarily the normal situation. Also note that even if such a provision was made, this could be changed at any time (& without you knowing about it).

Have you looked into protecting yourself &/or your daughter by have a usufruct put in place? Would seem to be a good idea.