Can My Baby Daughter Own Real Estate?

[Godders]

As a falang married to a Thai lady, can I legally buy a house or condo in the name of our daughter, who is three years old? I am knocking on in age and would like to ensure that whatever happens she has a capital asset which nobody else can touch.

[lovelomsak]

I donot have the naswer but hope you get good response. I may be looking at same senario soon and want assests put in childs name. I think most answers will be trust fund orientated. Lets wait and see.

[trogers]

Not possible in a 3-year old's name. Only a person of 18 and above can have his or her name recorded in the property title.

[Slaps]

Not possible in a 3-year old's name. Only a person of 18 and above can have his or her name recorded in the property title.

This question has been asked many times on TV and I have read that it is possible and has been done

Somebody out there knows

[InterestedObserver]

It is possible for a minor to own property, but under Court supervision. There have been reports on ThaiVisa of people successfully doing exactly what the OP proposes. Nobody said it has easy.

[Mario2008]

Minors can have assets, no problem. If the child is Thai it can own land. The property of a minor will be managed by the person who has parental powers, but selling etc. is under court supervision.

[MikeyIdea]

You can indeed buy a house in the name of your daughter, as long as she is a Thai citizen. I did that and my daughter became the owner of the house we live in when she was only 2 years old. On the purchasing agreement at the land office, my name is shown as "pusuu" number one and the mother as "pusuu" number two.

There are a few limitations:

You cannot give a debt to a child, the property must be fully paid

You cannot easily sell the property. A court decision from Juvenile court is required. The person / people who has parental powery of the child will only be allowed to sell if it is to the benefit of the child. This apply also if both mother and father agree.

Edit: Mario2008 formulated it better...

Edited February 2, 2010 by MikeyIdea

[trogers]

OP asked 'Can I legally buy a house or condo in the name of our daughter...' does not fall under making a will and heiress.

Minors can have assets, no problem. If the child is Thai it can own land. The property of a minor will be managed by the person who has parental powers, but selling etc. is under court supervision.

[MikeyIdea]

OP asked 'Can I legally buy a house or condo in the name of our daughter...' does not fall under making a will and heiress

I don't understand what you mean, the OP wants to ensure that whatever happens his child has a capital asset which nobody else can touch. I think the putting the house in the childs name is a rather good option, I opted for it myself. It is not fool-proof but it does guarantee that neither the mother nor the father can sell unless it is for the benefit of the child

Can it be strengthened even further? I don't know, I don't think I would want that

Edited February 2, 2010 by MikeyIdea

[trogers]

I have yet to come across a Sales and Purchase agreement signed by a minor, esp. a 3-year old.

OP asked 'Can I legally buy a house or condo in the name of our daughter...' does not fall under making a will and heiress

I don't understand what you mean, the OP wants to ensure that whatever happens his child has a capital asset which nobody else can touch. I think the putting the house in the childs name is a rather good option, I opted for it myself. It is not fool-proof but it does guarantee that neither the mother nor the father can sell unless it is for the benefit of the child

Can it be strengthened even further? I don't know, I don't think I would want that

Edited February 2, 2010 by trogers

[MikeyIdea]

For a Sales agreement, the people exercising parental power (custody) will sign on the behalf of the minor, can only be done After a court has given its permission.

There can be a transfer or gift of property to a minor no problem; the people exercising parental power must sign on behalf of the minor at the land office. The minor, if she cannot write yet as in my 2 year old daughters case has to make a fingerprint signature on the same document. I simply took my daughters little finger and pushed it gently on to an ink pad and then onto the paper on the line for her signature and that's it

Easy

Edited February 2, 2010 by MikeyIdea