Moving House From Thai Company To Wife's Name

[craigt3365]

I would like some info as to what is involved in transferring a house from a Thai Nominee company setup into my wife's name. I have done some searches here on TV, but have not found a thread that deals with this. If you know of one, please let me know!

The house was purchased a few months ago, using money from her bank account. To expedite things, I just had them change the name of the director to me. But now want to put it in my wife's name so there are no future issues. We have been married many years and all of our bank accounts and investments back in the USA are in joint accounts. I have also opened up a joint account here in Thailand with her.

I appreciate any and all input!

Craig

[katabeachbum]

The property can be transfered at same value as purchased, total transfertaxes approx 5,8% of this value.

You must sign in land office before transfer, this property now solely belongs to this woman and you have no future claims on it. Any other agreement between you regarding this property becomes invalid

[oracle]

You can’t transfer the property as the director of the company to your wife. You should remove yourself as the director and replace yourself by a Thai you trust who must sign the documents on behalf of the company, better also remove yourself as a shareholder. Then it should not be a problem.

[stgrhe]

I believe there is also a need for a recent and formal board meeting's approval of transfer and that this document should be attached to the transfer application.

[craigt3365]

Ok, thanks for the info! Maybe this is a stupid question, but could I have all the current directors replaced by my wife's family? I have known them for years and totally trust them. I guess the only benefit would be the avoidance of the sales tax??????

I appreciate all your comments. Thanks!!

Craig