House Could Be Taken

[WilliamCave]

hello a friend of mine told me that the police and a repo company went to his thai wifes house to collect on a dept the father created. He used the house as security. She says the house belongs to her and the papers are in her name,

My question can he use a house not in his name as security for a loan, that he did not pay back?

My guess is the house is also in his name to be able to do this, would i be correct in saying this,

They got a lawyer involved and the lawyer could not get the papers for the house as my friend had asked him, something does not sound right in the eplanations from the thai wife, what do u think with the little info give u?

[stgrhe]

Look at the back side of the original land title document. It will show the owner of the land and whether there is a mortgage on the land. As for the house itself there are no specific paper that shows ownership like the title document for the land, but it is usually accepted that the land owner is also the owner of the dwellings on the land unless the building permits were issued in different name.

[Gary A]

It is unlikely that the house could be used as collateral unless there is a mortgage recorded on the back of the chanote.

[chiangmaibruce]

Look at the back side of the original land title document. It will show the owner of the land and whether there is a mortgage on the land. As for the house itself there are no specific paper that shows ownership like the title document for the land, but it is usually accepted that the land owner is also the owner of the dwellings on the land unless the building permits were issued in different name.

My guess is that the land title document will be mysteriously unavailable. I am not an expert in this area at all but there must be a few possibilities:

* dad listed as owner or part owner

* wife gave authority (acted as guarantor) for his loan

* wife borrowed money against home to lend to him

If and when your friend gets this sorted, put the land title papers in a bank safe box. Assuming your friend paid for the house then tell him to talk to a lawyer about putting in place appropriate safeguards