CMguy Posted November 27, 2004 Share Posted November 27, 2004 Is there a minimum age a thai national must be to buy a home or have bought for them. I ask because I would be interested in buying in my 21 month old daughters name. Link to comment Share on other sites More sharing options...
et33.com Posted November 27, 2004 Share Posted November 27, 2004 21 months of age ??? forget about it use the money to set up a trust company appoint me as one of the three trustee and i invest your money for you... else just buy endowment insurance... Link to comment Share on other sites More sharing options...
amarka Posted November 27, 2004 Share Posted November 27, 2004 21 months of age ???forget about it use the money to set up a trust company appoint me as one of the three trustee and i invest your money for you... else just buy endowment insurance... <{POST_SNAPBACK}> hi... whats wrong with the idea? sounds like a good idea? I have already done the same for my daughters too... amarka Link to comment Share on other sites More sharing options...
Sumitr Man Posted November 28, 2004 Share Posted November 28, 2004 21 months of age ???forget about it use the money to set up a trust company appoint me as one of the three trustee and i invest your money for you... else just buy endowment insurance... <{POST_SNAPBACK}> Me thinks the poster who responded knows that Thailand does not legally recognise trusts, and that as trustee the poster would be the legal owner of the property.... As to the OP: at 21 months your daughter is not of the age of maturity (20 years); therefore, she cannot legally own the land. This is not to say you cannot purchase the land in her name. You will, however, need to appoint a guardian. Without appointing a guardian, it is likely that your wife (assuming she is Thai) will be de facto deemed guardian. It is technical, complex, and some land registration offices are not happy doing it. For these reasons, I suggest you talk through what you want to do with a reputable lawyer - just don't let him/her be appointed as trustee... SM Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted November 28, 2004 Share Posted November 28, 2004 21 months of age ???forget about it use the money to set up a trust company appoint me as one of the three trustee and i invest your money for you... else just buy endowment insurance... <{POST_SNAPBACK}> Me thinks the poster who responded knows that Thailand does not legally recognise trusts, and that as trustee the poster would be the legal owner of the property.... As to the OP: at 21 months your daughter is not of the age of maturity (20 years); therefore, she cannot legally own the land. This is not to say you cannot purchase the land in her name. You will, however, need to appoint a guardian. Without appointing a guardian, it is likely that your wife (assuming she is Thai) will be de facto deemed guardian. It is technical, complex, and some land registration offices are not happy doing it. For these reasons, I suggest you talk through what you want to do with a reputable lawyer - just don't let him/her be appointed as trustee... SM <{POST_SNAPBACK}> You are absolutely correct. It is anything but straightforward. Link to comment Share on other sites More sharing options...
dugdig Posted November 28, 2004 Share Posted November 28, 2004 I was reading the administsrative code or something like tht on the internet a few weeks ago and saw the section on children owning land...it seemed straight forward...children can be named owner of land but there must be someone named as administsrator...or guardian...can't remember the term used ...who is required to manage the property for the benefit of the child. Don't remember if the administrator has to be Thai or not...and full ownership goes to the child at some age but I can't remember.....maybe I'll go look and report back. I think that the hesitation at the land office is because this rarely happens and they're not sure of how to proceed. This rarely happens because Thai families (in my experience which is of course very limited) are so close knit that parents or grandparents usually legally hold title to land intended for children so there is no problem...putting the childs name on the title document seems ridiculous to them....why do that?....what can a child do with the land?...when they are old enough we will do it...etc. Link to comment Share on other sites More sharing options...
CMguy Posted November 28, 2004 Author Share Posted November 28, 2004 Thanks for your input. I certainly will have to continue researching my options. Link to comment Share on other sites More sharing options...
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