How Do I Transfer Ownership?

[Jimmyd]

My Thai wife wants to buy a house from the owner who has a mortgage on the house. The owner's equity is about 30%.

How can the transfer happen? I assume the bank has the chanote and we have to pay off the loan, but I have no idea what the details will be.

Any help would be appreciated.

[Gary A]

It was not a house but a condo with a mortgage on it. The bank held the chanote. The banker showed up at the land office ready to sign off. I had previously gotten the amount of the mortgage and had a check made out to the bank for that amount. I had another check made out to the owner for his equity in the condo. Everything went smoothly and I left with the chanote in my name.

[Jimmyd]

I see, makes sense. Thanks for the quick reply!

[thailandbluegrass]

Well I am no rocket scientist and I have only been in Thailand for 9 years but I do know hundreds of places where you can fing perfect answers to your questions......They are called Lawyers Offices. I wouldnt be caught dead NOT using a Lawyer here. Go for a walk, see a Lawyers Office and go inside. That is my best advice.

[bojo]

My Thai wife wants to buy a house from the owner who has a mortgage on the house. The owner's equity is about 30%.

How can the transfer happen? I assume the bank has the chanote and we have to pay off the loan, but I have no idea what the details will be.

Any help would be appreciated.

We bought a house which was mortgaged. We went to the bank and signed a buyer and seller agreement with the seller and, we all, including the loan officer at the bank signed the document. I paid the bank the amount that was a mortgage and the balance I paid at the land office to the seller once the deeds we're changed into my wife's name. went very smoothly. Don't forget a usufruct, if you should need one, only 100b to register.

Regards Bojo

[Jimmyd]

Well I am no rocket scientist and I have only been in Thailand for 9 years but I do know hundreds of places where you can fing perfect answers to your questions......They are called Lawyers Offices. I wouldnt be caught dead NOT using a Lawyer here. Go for a walk, see a Lawyers Office and go inside. That is my best advice.

Whether a lawyer is necessary or not is a valid question. Thank god you are such an expert, I'm rushing out and will use the first one I "fing.'

Edited August 6, 2009 by Jimmyd

[Jimmyd]

We bought a house which was mortgaged. We went to the bank and signed a buyer and seller agreement with the seller and, we all, including the loan officer at the bank signed the document. I paid the bank the amount that was a mortgage and the balance I paid at the land office to the seller once the deeds we're changed into my wife's name. went very smoothly. Don't forget a usufruct, if you should need one, only 100b to register.

Regards Bojo

Thanks Bojo,

I'll head down to the bank to see what's required tomorrow.

Edited August 6, 2009 by Jimmyd

[FarangRed]

We bought a house which was mortgaged. We went to the bank and signed a buyer and seller agreement with the seller and, we all, including the loan officer at the bank signed the document. I paid the bank the amount that was a mortgage and the balance I paid at the land office to the seller once the deeds we're changed into my wife's name. went very smoothly. Don't forget a usufruct, if you should need one, only 100b to register.

Regards Bojo

Thanks Bojo,

I'll head down to the bank to see what's required tomorrow.

You dont need a Lawyer to buy and sell property in Thailand you need someone who specializes in land transactions a lot cheaper than a lawyer. PM if you need info

[mild7even]

You dont need a Lawyer to buy and sell property in Thailand you need someone who specializes in land transactions a lot cheaper than a lawyer. PM if you need info

Any recommendations for up in Chiang Mai?