Bel Mondo Posted June 19, 2009 Share Posted June 19, 2009 This evening on a show called "Pattaya Plus", I saw some former tennis pro, David Lloyd, and an American architect, Michael Earle, being interviewed concerning Phuket real estate developments and a concept called "Fractional Ownership". Both indicated that this was NOT a time share, but a "group ownership" concept. Supposedly the investors were actually "owners" (actually named on the Thai property deed) and would participate in profits from an eventual sale of the property. I just don't understand this concept within the context of the law of Thailand. We all know that only Thai citizens can own property. We all know that foreigners cannot own real estate in Thailand. The only exception, of course, are condos (49% of a condo development) So -- PRAY TELL -- what is this "new" and "unique" concept of "Fractional Ownership" unless it is simply the usual Time Share concept? Can either Mr. Lloyd, Mr. Earle or some designated agent please enlighten me on this rather "unique" ownership concept? If anyone of these "entrepreneurs" can give me an explanation that would pass muster under Thai law, I would be happy to invest -- after all, who wouldn't want a chance to enjoy a day on the yacht that is "supposedly" part of the package!!!! Link to comment Share on other sites More sharing options...
jerrylee Posted June 20, 2009 Share Posted June 20, 2009 (edited) You offer a series of beautifully designed, display size Share Certificates with a "Title Deed" appearance, Ownership to one square inch or the equivalent in "thai measurement" of rice fields, rubber plantations, mekong river banks etc. You sell these at higher price than the printed displayed face value. The trading of these share certificates "scripophily" will go up in value. The actual land can still be held by foreigners of Thai citizenship. and yes, an engraved image of a yacht will have to be incorporated somewhere on the certificate too. ... and I'm not associated with either Mr. Lloyd, or Mr. Earle, nor being their agent. Edited June 20, 2009 by jerrylee Link to comment Share on other sites More sharing options...
LeungKen Posted June 20, 2009 Share Posted June 20, 2009 Is it just me that finds this deal a trifle "Dodgy" ? More explanation is needed methinks. Link to comment Share on other sites More sharing options...
thaiwanderer Posted June 20, 2009 Share Posted June 20, 2009 http://www.thaivisa.com/forum/Phuket-Selli...ti-t274462.html Link to comment Share on other sites More sharing options...
LivinginKata Posted June 20, 2009 Share Posted June 20, 2009 Same post already running as listed above. This topic now Link to comment Share on other sites More sharing options...
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