Propety $ Can't Come From Foreigner Husband?

[moxhan]

Can anyone help...

Is it true when purchasing a property even property under Thai wife's name, as long as you are using joint bank account, government will not allow this transaction?

Some said that the money must not come from the foreigner husband at all. Once government found out, land will be taken back.

Please help if you have some experience. If above is true, is there anyway to go about it legally?

Thanks,

Mox

[lopburi3]

Money for purchase of land/house must come from wife alone and not from foreigner. A statement to that effect must be made and signed at sale time. However there is nothing to prevent you giving her the money prior to purchase and her using that (her) money to buy the land. No check is made as this is just to prevent foreigner later saying he paid for house so should have ownership (which he can not have by law).

[moxhan]

Thanks for your advice.

What about if we are considering taking bank loan to finance this property, is there any issue when using our joint bank account to prove our financial background?

I also want to be very sure of the whole arrangment to prevent future

[lopburi3]

That will be a loan to her by bank or developer and joint bank account should not be a problem (unless you are using as collateral for a loan rather than the deed for house). Be aware that most loans are going to require at least one cosigner. Believe some foreigners have done this but not sure if it is common for a home loan.