Baught 2 Lease

[damo]

Can my wife buy land for a friend (farang) no t/w) with the premise of leasing to him for thirty years?

He has land in mind, but can't easily buy,

My wife is Thai citizen and can buy the land,

She buys the land, for example 1mio baht,

He signs a lease agreement and makes a one off up front payment of 1 mio baht.

End result: My wife owns land in her name but thats about it.

Mate has full right to this land for the next 30 years.

Is this leagal?

Does this sort of thing happen often?

Sounds like a no brainer way around all the prohibitive land ownership laws, especially for the over sixties.

What are your thoughts? Do-able?

[chiangmaibruce]

I think most people reading this would ask the question "why would you want to get involved in someone else's land acquisition?" and "why would he want to complicate things by involving a third party?".

If he is happy with a 30 year lease then he should find a seller who is happy to provide one. Many are at the moment - it shouldn't be too hard. This way it is clean, clear and completely above-board and legal... and you and your wife have zero legal exposure. If he is in fact trying to "buy" land using a Thai nominee then he could get both himself and your wife in trouble.

Get your friend to sit down and read some of the discussions here in Thaivisa - there are threads on every possible way to own/control land - and he will see that there are no easy or "no-brainer" solutions, and that now is not a good time to get creative with the law.

[damo]

I think most people reading this would ask the question "why would you want to get involved in someone else's land acquisition?" and "why would he want to complicate things by involving a third party?".

If he is happy with a 30 year lease then he should find a seller who is happy to provide one. Many are at the moment - it shouldn't be too hard. This way it is clean, clear and completely above-board and legal... and you and your wife have zero legal exposure. If he is in fact trying to "buy" land using a Thai nominee then he could get both himself and your wife in trouble.

Get your friend to sit down and read some of the discussions here in Thaivisa - there are threads on every possible way to own/control land - and he will see that there are no easy or "no-brainer" solutions, and that now is not a good time to get creative with the law.

Good advice! Thanks.

Only real benefit is he's done n' dust in 30 yrs time. My missus will have the land. Other thing is that he knows us, and my wife is more interested in living in Oz the having much to do with LOS, so more peace of miind for him. We would only do someting like this for a fee, albeit small but it would'nt be at our short term loss.

Just trying to find reasons not to go ahead with something like this.

Cheers, Damo.