Farangs Buying Property In Thailand

[frankylove]

hi just wondered if anyone knows what the rules are about farangs buying property in thailand?? ie needs to be a thai citizen??

if anyone knows would be get to hear from you as i dont really know what the rules are???

cheers frank

[Brigante7]

Yes a farang can buy property in Thailand, unfortunatley you can't own the land it's built on.

Brigante7.

[thaiphoon]

Moving to Real Estate, housing, house and land ownership forum.

[BEENTHEREDONETHAT]

You can legally own a condo if the building is less than 49% foreign owned and has over 40 units. You cannot own land unless you are very very wealthy. There are methods to get around the laws, such as a 30 year lease or have a Thai corp you control own the property. But these have potential problems.

[jacko45k]

How about the method of owning a house, whereby a shell company is used.

This has been going on for years and I am sure many a farang owns a home this way.

I was reading a newspaper article that was worrying me somewhat.

As MD of my company I must have a work permit..... errr

Also failure to have this can open me to fines of 200k baht. All quite worrying.

I am new on this forum so be gentle as I am sure this subject has been aired B4.

[makescents]

There are three ways to "own" property.

1. Buy a condo, 51% of the building (units) must be Thai owned

2. 30 year lease, don't believe the crap about 60 or 90 years, when it comes to renew you'll realise that contract meant nothing

3. Become a Thai citizen

Companies etc are based on loopholes I would stay away if you cannot risk losing the assets.

[LennyW]

frankylove, Best discuss with a lawyer as each persons particular personal situation will be different to another, also depends on what type of "property" you are interested in.

There are many ways to move forward and secure ownership of property without much risk, despite what some posters on here would have you believe.

Good luck.

[rgs2001uk]

frankylove, Best discuss with a lawyer as each persons particular personal situation will be different to another, also depends on what type of "property" you are interested in.

There are many ways to move forward and secure ownership of property without much risk, despite what some posters on here would have you believe.

Good luck.

Perhaps you would be so kind and provide us with some of the many ways.

Usufructs and leases do not count, the land deeds are still in someone elses name.

Please tell me how as a farang I can have a chanote in my name.

[Zstarx]

frankylove, Best discuss with a lawyer as each persons particular personal situation will be different to another, also depends on what type of "property" you are interested in.

There are many ways to move forward and secure ownership of property without much risk, despite what some posters on here would have you believe.

Good luck.

Yes I'd love to know the many ways to move forward and secure ownership of property in Thailand without much risk.

[Maestro]

...Please tell me how as a farang I can have a chanote in my name.

You cannot.

--

Maestro

[LennyW]

...Please tell me how as a farang I can have a chanote in my name.

You cannot.

--

Maestro

Erm, a condo within the 49% foriegn quota as previously stated above.

[rick75]

So you said "many ways", you listed just one, that is very common knowledge.

Can you list any more?

[LennyW]

So you said "many ways", you listed just one, that is very common knowledge.

Can you list any more?

I also said each particular persons situation is different, what is your situation / what kind of property are you trying to own? unfortunately there is no single simple solution.

[rgs2001uk]

So you said "many ways", you listed just one, that is very common knowledge.

Can you list any more?

I also said each particular persons situation is different, what is your situation / what kind of property are you trying to own? unfortunately there is no single simple solution.

Sorry i was reading what you said

Quote

"There are many ways to move forward and secure ownership of property without much risk, despite what some posters on here would have you believe"

As of yet you have failed to give a single example of how to secure ownership of property.

Excluding condos that farang can own, with certain conditions, you still havent given an example.

As I mentioned before, exclude usurfucts and leases, which someone else owns, you only have the right to live on but not own the property.

However I digress, lets assume I holiday in Pattaya and meet little Lek from Surin, I choose to get married and buy land and a house, a situation common to many I would imagine.

Please advise how I am able to protect myself, and own property not in someone elses name.

Forget about the house which I know I can own, but not the land the house is built own, please advise my best course of action

My best advice would be arrange a lease on the land, build a raised Thai style wooden house.

If the proverbial hits the fan either, dismantle and sell the house, or dismantle and move the house to another location.

"unfortunately there is no single simple solution"

A bit different to the following,

"There are many ways to move forward and secure ownership of property"

You are either blowing smoke, or are involved in the real estate business

[LennyW]

I apologise if English is not your langage, but rgs2001uk, are you sober?

You are asking questions and answering them in your own little mind???

Am sorry, but what do you want??

I will try to answer any question you want regarding real estate in Thailand, next!

[makescents]

I apologise if English is not your langage, but rgs2001uk, are you sober?

You are asking questions and answering them in your own little mind???

Am sorry, but what do you want??

I will try to answer any question you want regarding real estate in Thailand, next!

I have to side with rgs; you hinted at the fact that there are other "secure" ways of property ownership beyond the 30 year lease and 49% condo options.

Which simply isn't the case. Unless trusting your multi-million baht property empire in your tii raks name is one of them.

[LennyW]

makescents, I am not hinting at anything!! All i am sayin is there are solutions to particular situations - what is your particular situation?

Rgs what are you trying to say? you obviously know the methods available yet you say apart from......etc, shows how little you know despite continually trolling these threads, why would you lease a bit of land for 30 years when you can get an Usufruct for life?

I am not being sarcastic, show me your situation and i will try to show you an answer, i am not a lawyer, i really thought i was stating the obvious - but obviously not?

[Crossy]

I am not being sarcastic, show me your situation and i will try to show you an answer, i am not a lawyer, i really thought i was stating the obvious - but obviously not?

OK Lenny, since you are unwilling to give examples, how about a specific case (Me):-

1.5 Rai of riverside real estate, no house yet (coming up this year). Currently owned by Wifey with usufruct to myself, also willed to me should my lady die first.

Is there another (better / safer) solution? If you require further information please ask.

[JimShortz]

I'm planning to build a house in the next couple of years. I will be getting married later this year so will be married at the time of land purchase.

Our plan is to buy the land wholly in my missus' name and then build the house in my name (by building new it allows us to separate the two things - I will own the building, but not the land it stands on, and her the land, but with a building on it not owned by her). I also plan to take out a 30 year lease on the land alongside a usufruct in case I should live longer than 30 years!

What do others think about this idea? What if we were to split? How will being married change things?

(and before the idiots start with comments about why build a house whilst worried about splits, etc. - we have been together a number of years and have a great relationship, but I am not an idiot so I want to consider the worse case scenarios)

Thanks folks

[LennyW]

I am not being sarcastic, show me your situation and i will try to show you an answer, i am not a lawyer, i really thought i was stating the obvious - but obviously not?

OK Lenny, since you are unwilling to give examples, how about a specific case (Me):-

1.5 Rai of riverside real estate, no house yet (coming up this year). Currently owned by Wifey with usufruct to myself, also willed to me should my lady die first.

Is there another (better / safer) solution? If you require further information please ask.

If it is in your wifes name with Usufruct to you, then like a lease, (in the case of marriage) it can be voided by either party, i hope this does not happen, Too late now, but better to have had the Usufruct direct from the original land owner for life, or from your good lady before she became your wife. No better solution available.

[LennyW]

I'm planning to build a house in the next couple of years. I will be getting married later this year so will be married at the time of land purchase.

Our plan is to buy the land wholly in my missus' name and then build the house in my name (by building new it allows us to separate the two things - I will own the building, but not the land it stands on, and her the land, but with a building on it not owned by her). I also plan to take out a 30 year lease on the land alongside a usufruct in case I should live longer than 30 years!

What do others think about this idea? What if we were to split? How will being married change things?

(and before the idiots start with comments about why build a house whilst worried about splits, etc. - we have been together a number of years and have a great relationship, but I am not an idiot so I want to consider the worse case scenarios)

Thanks folks

Not sure what you mean by this, if you take out an usufruct it can be for your lifetime, no need for a lease as well. as i just replied to Crossy though - do it before you are married as an Usufruct or Lease can be voided by either marital party in the case of a dispute.

[guzzi850m2]

Can anybody explain to me what usufruct means?? Thanks

[LennyW]

Can anybody explain to me what usufruct means?? Thanks

Usufruct.pdf

[malcolminthemiddle]

I also plan to take out a 30 year lease on the land alongside a usufruct in case I should live longer than 30 years!

Having a lease or usufruct in place before making a Building Permit application in the name of a foreigner is mandatory.

[rgs2001uk]

makescents, I am not hinting at anything!! All i am sayin is there are solutions to particular situations - what is your particular situation?

Rgs what are you trying to say? you obviously know the methods available yet you say apart from......etc, shows how little you know despite continually trolling these threads, why would you lease a bit of land for 30 years when you can get an Usufruct for life?

I am not being sarcastic, show me your situation and i will try to show you an answer, i am not a lawyer, i really thought i was stating the obvious - but obviously not?

Lenny,

you are the one who said "There are many ways to move forward and secure ownership of property".

If we ignore usufruct and leases, what are we left with from the many ways?

Many may convince themselves that owning the right to reside on someone elses property is the same as owning it themselves, when it clearly isnt.

I believe the definitive answer was given in post number 10.

You accuse me of trolling these threads, well some may consider it asking pertinent questions or stimulating healthy debate.

Some dont even know what questions to ask, at least one soul has been pointed in the direction of usurfucts.

If my so called trolling helps at least one person, then so be it.

I have no situation here, and never will, I will never buy something I cannot own, and I am not speaking as some bitter and twisted guy who was ripped off by some uneducated girl, as mentioned earlier I will never put myself in that position.

I understand there are some who will put themselves in the position mentioned above, they should at least be made aware of what they are actually purchasing and the legal aspects involved, as well as the repercussions of their actions.

So I ask again, please enlighten us with some of the many ways.

As they say in the glorious LOS, up to you.

[ding]

I'm planning to build a house in the next couple of years. I will be getting married later this year so will be married at the time of land purchase.

Our plan is to buy the land wholly in my missus' name and then build the house in my name (by building new it allows us to separate the two things - I will own the building, but not the land it stands on, and her the land, but with a building on it not owned by her). I also plan to take out a 30 year lease on the land alongside a usufruct in case I should live longer than 30 years!

What do others think about this idea? What if we were to split? How will being married change things?

(and before the idiots start with comments about why build a house whilst worried about splits, etc. - we have been together a number of years and have a great relationship, but I am not an idiot so I want to consider the worse case scenarios)

Thanks folks

She owns it so trust her or accept that you may donate the property one day and move on.

Cheers and best of luck in your adventure!

edit: to note you ask a question about 'worst case scenarios', and call potentially helpful responders "idiots" for attempting to help you.

Edited April 13, 2010 by ding

[frankylove]

thanks for all the help i was hopeinng there would be a way of owning out right.

like if u do one of these lease for life things what if u need to sell or move some where else you cannot.....

i think if i was gonna buy some property in thailand i would want to 100% so unless i become a resident i dont think there is much chance??

thanks anyways

[JimShortz]

Not sure what you mean by this, if you take out an usufruct it can be for your lifetime, no need for a lease as well. as i just replied to Crossy though - do it before you are married as an Usufruct or Lease can be voided by either marital party in the case of a dispute.

The reason for taking both is that they give different rights. A usufruct is a right to occupy the land for YOU only, whereas a lease can be sold or sublet to another party. This is a pretty significant difference...

[richardt1808]

this topic seems to come up every other day here and clearly people are too lazy to do a search before posting the same old questions.

searching the words 'usufruct' or 'land ownership' etc would yield a wealth of valuable information from previous posters so I think we need to be reminding people of this before typing the same old, same old over and over again.

[rick75]

Lenny thanks for posting the link, I just have one question someone may be able to answer.

I take out a usufruct with my wife, which may or may not be cancelled under thai law if you divorce, can a clause be added to the usufruct that upon legal divorce a 30 year lease then gets activated.

That is kind of what they say in the document but I just wanted to make sure I am reading it correctly.

Cheers