Siam Legel Or Sunbelt - Making Binding Contacts

[karl2009]

Hello,

I am planning to buy a condo in my girl friends' name. Later to be my wife. We plan to get married first then buy the condo.

However, I would like to have a contract drawn up that would protect me in case of separation/divorce/death and also if she decides to kick me out and move her family in. That will entitle me to sell the condo and get back what I put in. Plus 50% of the profit that was made from the sale. She or her family can keep the other 50% of the profit. Basically I want as much protection as possible.

I want to get a lawyer draw up some binding contract that if broken the condo has to be sold and I get my money back plus some of profit. Plus I can decide when to sell the condo.

I have read many stories of Farang making mistakes letting their girl friend or wifes own the property and then getting kicked out with nothing.

I am wondering who offers the best service siam legal or sunbelt? I have some stories that sunbelt do a poor job?

Any advice?

Thanks,

[rfukata]

first of all if you are planning to invest in a condo and not a house then you should be able to place the 'title' under your name.

this will probably be the best solution.

additional legal service info; try check out Integrity legal Thailand or Issan lawyers, both are on the website

[gotlost]

Buy the condo before you get married. You can doe this legally this way its yours. And since you would own the condo, why get married?

Edited December 11, 2009 by gotlost

[karl2009]

Buy the condo before you get married. You can doe this legally this way its yours. And since you would own the condo, why get married?

I forgot to mention. I can not own the condo because I don't meet the requirements. I don't have enough funds to purchase. So 40% will be my own money the 60% will be from a loan. So my girl friend will sign for the loan in her name, making her sole owner of the condo. This is why I want to have some legal protection before we move forward.

Thanks,

[InterestedObserver]

Buy the condo before you get married. You can doe this legally this way its yours. And since you would own the condo, why get married?

I forgot to mention. I can not own the condo because I don't meet the requirements. I don't have enough funds to purchase. So 40% will be my own money the 60% will be from a loan. So my girl friend will sign for the loan in her name, making her sole owner of the condo. This is why I want to have some legal protection before we move forward.

Thanks,

No matter what you do, the bank is going to own the condo (hold the title) until the mortgage is repaid. Additionally, the bank will not loan money if the Chanote is encumbered. So that means that any agreement drawn between you and the girlfriend cannot be secured by a lien on the condo as long as the bank is involved.

Edited December 11, 2009 by InterestedObserver

[benchmark]

For professional current legal advice and quality service contact Siam Legal Company.

[stgrhe]

I agree with rfukata, contact Sebastien at Issan Lawyers. He is very good and affordable too.

I also believe InterestObserver's comment is right and the problem here is the bank loan, which will encumber the chanote. This will also hinder you from going the usufruct or lease routes. Keep also in mind that any prenuptial agreement must be entered before you register your marriage.

[eljeque]

Or, simply do not buy it yet.

Wait until you have enough to by it yourself and put it in your own name.

[karl2009]

I agree with rfukata, contact Sebastien at Issan Lawyers. He is very good and affordable too.

I also believe InterestObserver's comment is right and the problem here is the bank loan, which will encumber the chanote. This will also hinder you from going the usufruct or lease routes. Keep also in mind that any prenuptial agreement must be entered before you register your marriage.

Can you explain "encumber the chanote?" I have never heard that before.

[stgrhe]

I agree with rfukata, contact Sebastien at Issan Lawyers. He is very good and affordable too.

I also believe InterestObserver's comment is right and the problem here is the bank loan, which will encumber the chanote. This will also hinder you from going the usufruct or lease routes. Keep also in mind that any prenuptial agreement must be entered before you register your marriage.

Can you explain "encumber the chanote?" I have never heard that before.

It means if for instance a lease, usufruct or a superficies is registered on the title document the bank will not grant a loan with the title document as the guarantee for the loan.

[InterestedObserver]

I agree with rfukata, contact Sebastien at Issan Lawyers. He is very good and affordable too.

I also believe InterestObserver's comment is right and the problem here is the bank loan, which will encumber the chanote. This will also hinder you from going the usufruct or lease routes. Keep also in mind that any prenuptial agreement must be entered before you register your marriage.

The prenuptial agreement must be registered simultaneously along with the marriage at the Amphur.

[Pib]

I had a good experience with/service from Sunbelt when the Thai wife and I bought land/house with a usufruct (in my name) included on the chanote.

Now some more advice:

- Don't buy a condo using a loan and put the condo in your girlfriends name!

- Don't buy a condo/house/land using cash (land has to be in the wife's name) unless you have about 10 years of marriage under your belt, triple sure the marriage will last for many, many more years (remember, love can fade fast), and you get a usufruct in your name on the land/house chanote. Now the usufruct don't provide a 100% guarantee you won't get ripped off if the marriage goes sour, but it significantly raises the percentages in your favor.

Love is great...divorce rates are still high...love can fade...a first marriage can be the school of hard knocks...protect yourself because you will be dealing with a LOT of money in a condo buy...don't put the condo in the girl friend's name.