House Purchase

[mikeyp]

Evening All

Currently looking at buying a house in Thailand with the wife (Thai). Mortgage/ House will be in her name, with me being signatory (sponsor) I will pay for the deposit and we have agreed that the monthly repayments will be 50/50. We have discussed payments/deposits that each of us will pay and one question arose, if in the unfortunate circumstance that we go our seperate way, is there a legal document that can be signed by my wife that states that i can re-coup my share of the house and obviously she re-coups her share.

Just putting feelers out before we talk to legal representatives and to see if any TV members have done this, and experiences paperwork required and any problems that came up, or any further links or litrature there is on this subject.

[UncleFrank]

Why do people place themselves into a position that can turn into a disaster I wonder?

[dsfbrit]

When you say you are buying a house, I assume you will therefore have some land under it. Often people say they are buying a 'house' when in fact they mean a place to live - usually a condo.

If thats the case, you cannot own the land. I would suggest you start to read ALL you can about land ownership in Thailand and all the hassle associated with it. Then dont do it! If you must buy something, buy a condo in your own name or share that with your Thai wife.

I say this as someone who has done what you are about to do and have decided that it has not been worth the hassle AND I am still living happily in 'my/our' house and land with my Thai wife.

By the way, I have bought via the company route, which is frowned upon. The other methods are Usufruct and 30 year lease. The latter you can put the land in the Thai person name and the House in yours.

Good luck, like I say I would not do this if I had the option again, especially with the exchange rate at 46 Baht. At least when I spent my 6 million Baht, the exchange rate was around 70-74.

[LennyW]

It seems you have taken sensible steps already by discussing that eventuality with your partner.

Best you talk to a lwyer and whatever you do, dont rely on people on this forum to guide you!!

Even though you clearly say you are buying a house which will be in your wifes name, there are those on this forum that cannot help themselves from telling you to buy a condo - dsfbrit did you actually read his post???? the OP has no desire to OWN the land, purely asking for advice on a pre nup of sorts.

Talk to your lawyer to get an agreement drawn up that is suitable to you both and get on with enjoying your house!

"Often people say they are buying a 'house' when in fact they mean a place to live - usually a condo." dsfbrit, <deleted> ????

[hhgz]

"looking at buying house with thai wife..."

I have seen "fully-furnished" homes, but never one that is offered with a Thai wife. Generally, you have to provide your own.

[patklang]

i have a life term partnership agrrement

[mikeyp]

"looking at buying house with thai wife..."

I have seen "fully-furnished" homes, but never one that is offered with a Thai wife. Generally, you have to provide your own.

hee hee, think one is enough.

[mikeyp]

i have a life term partnership agrrement

thanks patklang, will look into this further

[mikeyp]

When you say you are buying a house, I assume you will therefore have some land under it. Often people say they are buying a 'house' when in fact they mean a place to live - usually a condo.

If thats the case, you cannot own the land. I would suggest you start to read ALL you can about land ownership in Thailand and all the hassle associated with it. Then dont do it! If you must buy something, buy a condo in your own name or share that with your Thai wife.

I say this as someone who has done what you are about to do and have decided that it has not been worth the hassle AND I am still living happily in 'my/our' house and land with my Thai wife.

By the way, I have bought via the company route, which is frowned upon. The other methods are Usufruct and 30 year lease. The latter you can put the land in the Thai person name and the House in yours.

Good luck, like I say I would not do this if I had the option again, especially with the exchange rate at 46 Baht. At least when I spent my 6 million Baht, the exchange rate was around 70-74.

thanks for your reply and comments.

I have a good knowledge of thai law re land /house ownership and what you can and cannot own.

Its a house we are looking for, we rent just now, the safer option but paying for someone elses mortgage, and the monthly mortgage repayments are not that more than the rental cost, especially when you have been renting for 18 months it adds up and get no return in the end for it. I will in the future get my own condo which will be solely in my name.

I understand where you are coming from dsfbrit, i have looked at the other options such as company name, 30 year lease, and its not the way i want go, (Purely for the hassle as you mentioned that seems to be involved) just quering to see if its possible that the wife has the house/mortgage in her name and any money i put into the property can be returned through a mutally agreed legal biinding contract that we are both happy with and signed, as lennyW mentioned something like a pre nupt.

Yeah the exchange rate is very poor and would not even think about just now transferring money and losing a hel_l of alot on exchange rates.

I am pretty cautious after reading some of the horror stories that have happend to other guys, and want to make sure that everything is watertight and legal before we do go ahead.

Thanks again.

[chiangmaibruce]

Hi. I would strongly suggest that you spend some time reading through previous threads in this sub-forum. There are countless ones on related topics that you need to know about (like Thai divorce laws, different forms of legal control over land, and so on) and fairly recently there was a thread on an identical question as per your one (maybe you can find this on a Thaivisa search, if you don't find it via scrolling down the threads list). Also study the web site www.samuiforsale.com - one of the better online sources on this issue

I don't know about the "lifetime partnership agreement" that was mentioned, but otherwise the short answer to your question is 'no', I don't think there is no agreement you can enter into that will automatically get you your house contributions back. Even if there was, agreements in Thailand between husbands and their wives can be voided (read Section 1469 of the Civil and Commercial Code). Assuming the property she buys is considered "marital property", however, you might have a shot at getting 50% back if you divorce via Thai divorce laws.

Be aware though that where a Thai who is married to a foreigner seeks to register a land purchase, the foreigner spouse is required to sign a statement attesting that he did not provide funds for the purchase, or that if he did provide funding then it was a gift to his partner (refer Sections 1471 and 1472 of the Civil and Commercial Code).

PS: OK, cheers, I see you posted while I was typing and have done your homework.

PPS: In Thailand, pre-nups (known as ante-nups) must be registered when the marriage is registered and (to the best of my knowledge) there is no provision for post-nuptial agreements.

Edited January 24, 2009 by chiangmaibruce

[mikeyp]

It seems you have taken sensible steps already by discussing that eventuality with your partner.

Best you talk to a lwyer and whatever you do, dont rely on people on this forum to guide you!!

Even though you clearly say you are buying a house which will be in your wifes name, there are those on this forum that cannot help themselves from telling you to buy a condo - dsfbrit did you actually read his post???? the OP has no desire to OWN the land, purely asking for advice on a pre nup of sorts.

Talk to your lawyer to get an agreement drawn up that is suitable to you both and get on with enjoying your house!

"Often people say they are buying a 'house' when in fact they mean a place to live - usually a condo." dsfbrit, <deleted> ????

Thanks LennyW, we are going to see a lawyer next few weeks, im really intersted to see if anyone has done this to re-coup any money they have put into the property. As you mentioned im not interested in buying or being the named owner of the house, but would like to have the security of having any money i put into it returned.

Cheers

[mikeyp]

thanks for the info and links, will look into these further. I also dont know anything about the Lifetime partnership agreement, if I find out anymore will let you guys know.

[mikeyp]

PPS: In Thailand, pre-nups (known as ante-nups) must be registered when the marriage is registered and (to the best of my knowledge) there is no provision for post-nuptial agreements.

Thought that was the case for pre nupts, that they had to be registered at the time of the marraige. Thanks

[venturalaw]

PPS: In Thailand, pre-nups (known as ante-nups) must be registered when the marriage is registered and (to the best of my knowledge) there is no provision for post-nuptial agreements.

Thought that was the case for pre nupts, that they had to be registered at the time of the marraige. Thanks

Post-nuptial agreements are doable.

[dsfbrit]

PPS: In Thailand, pre-nups (known as ante-nups) must be registered when the marriage is registered and (to the best of my knowledge) there is no provision for post-nuptial agreements.

Thought that was the case for pre nupts, that they had to be registered at the time of the marraige. Thanks

In theory pre-nups should be registered at the time of marriage. I did not do this when I was married and had a 'post-nup' instead. My mistake, but discussing this kind of thing with many people, as you are sensibly doing at the moment, I was lead to believe a couple of things.

- if you divorce the settlement can usually be handled in the back office of a lawyers office. If not and it has to go to court I have no idea what happens.

- if you have children then the 'pre/post-nup' has no value at all.

I have made sure that the bulk of my funds are not in Thailand. So if I do lose everyhting in Thailand, then its not the end of the World. It was suggested above by someone, that I had not read your post and missed the subtle point of your desire to share ownership of a house in Thailand with your spouse. I am simply saying to you, that if you cannot settle this amicably in a lawyers office AND it goes to court, the fact that you cannot own land here will mean that portion of any jont asset will be in dispute!

If it is not settled amicably and anyone tells you the value of the land portion will just be split in half by the court, then they have had different experiences to me in life.

Good Luck and I hope you stay married for a very long time and never need to put the advice you are receiving here into practice. I certainly dont intend to get divorced - too much hassle!

[thaiwanderer]

PPS: In Thailand, pre-nups (known as ante-nups) must be registered when the marriage is registered and (to the best of my knowledge) there is no provision for post-nuptial agreements.

Thought that was the case for pre nupts, that they had to be registered at the time of the marraige. Thanks

Post-nuptial agreements are doable.

?

CCC s1469

Any agreement concluded between husband and wife during marriage may be avoided by either of them at any time during marriage or within one year from the day of dissolution of marriage; provided that the right of third persons acting in good faith is not affected thereby.

[venturalaw]

PPS: In Thailand, pre-nups (known as ante-nups) must be registered when the marriage is registered and (to the best of my knowledge) there is no provision for post-nuptial agreements.

Thought that was the case for pre nupts, that they had to be registered at the time of the marraige. Thanks

Post-nuptial agreements are doable.

?

CCC s1469

Any agreement concluded between husband and wife during marriage may be avoided by either of them at any time during marriage or within one year from the day of dissolution of marriage; provided that the right of third persons acting in good faith is not affected thereby.

This is the way around the voidability - there must be a third party beneficiary.

[mrmazinkle]

Just thinking it may be hard, after marriage break up to sell a house when 10 other family members have moved in..Who's gonna move them out for you..Local Police?.