Farangs Buying Property In Thailand

[kikoman]

Again, you asked somebody to cite the Thai law pertaining to ownership of one rai of land by a foreigner for a house. You got it. The fact that you don't have the requisite 40 million baht is irrelevant to the answer.

Yes you are right ,I do not have that kind of money!

Do you?

Your information is a joke. Many special conditions have been available for Millionaires in Thailand for a long time, high lighted by Thaksins millionaire gold card.

What I find irrelevant is for non-millionaires expats that believe under special condition they could legally own land in Thailand.Your information is no help to the great majority who do not qualify for those special conditions.

The last person I had that conversation with made $25,000 a year, yet he was adamant that he could own up to one rai of land.

How many expat Millionaires do you know in Thailand that utilize those special conditions,

How many Ex pat millionaires are there permanently in Thailand, Two ,Three, ten ,Twenty etc

I do not consider that an adequate answer to the post I addressed, unless the poster I answered is one of those Millionaires!

Cheers:

[jayinoz]

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

You cannot.

--

Maestro

Yes you can- if u investing over 40 million US in the country u can have 1 Rai. Upon appoval from the Interior Minister.

[jayinoz]

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

You cannot.

--

Maestro

Yes you can- if u investing over 40 million bt in the country u can have 1 Rai. Upon appoval from the Interior Minister.

[rgs2001uk]

So mother in law owning land Falang owning house should present no problems for those of us who are married?

Slight problem, you had better check up on whats in your MILs will and who will inherit on her sad demise.

[rgs2001uk]

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

You cannot.

--

Maestro

Yes you can- if u investing over 40 million bt in the country u can have 1 Rai. Upon appoval from the Interior Minister.

Not disputing what you say, I have heard the same.

The only thing I have never heard, is of anyone this applies to, perhaps some enlightened poster could give us an insight into any farang they know of who has ever been approved by the Interior Minister.

[kikoman]

Maetro is right, YOU can not own land in Thailand , Period!

Unless you have $40 million to invest in Thailand and are granted the permission of the Minister.

Those limitations effect I would guess 99% of the Ex pat community, One dose TV members a disservice by stating one can own one rai of land under special conditions.

The Millionaires always have special conditions they can pay for, that are not available to the vast majority of our community.

Just like the Millionaires Gold Card.

Cheers:

Edited June 3, 2010 by kikoman

[donx]

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

You cannot.

--

Maestro

Yes you can- if u investing over 40 million bt in the country u can have 1 Rai. Upon appoval from the Interior Minister.

Not disputing what you say, I have heard the same.

The only thing I have never heard, is of anyone this applies to, perhaps some enlightened poster could give us an insight into any farang they know of who has ever been approved by the Interior Minister.

I posted about this awhile ago and one TV member, bendix, claimed to personally know some foreigners that actually acquired land in this manner. Unfortunately he was unwilling to provide any details about who they were. TV member naam claims to have looked into this option and he decided the investment requirement wasn't worth doing and he opted for setting up a Thai company to own the land instead.

[Zstarx]

So mother in law owning land Falang owning house should present no problems for those of us who are married?

Slight problem, you had better check up on whats in your MILs will and who will inherit on her sad demise.

I'd suggest my Mrs would be making sure the house came her way . Anyway can't the MIL gift the house to the Mrs after a few years

[bkmbkk]

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.

Ok - let me see !

My situation is that I am not married but have a child (Thai national, 7 year).

IF I make a usufruct with original owner for me and AFTER that transfer the land to child.

Would that usufruct still be void after my daughter owns the land ?

If yes - that is the way to go to optain a usufruct rather than try through juvenile court

[stgrhe]

Ok - let me see !

My situation is that I am not married but have a child (Thai national, 7 year).

IF I make a usufruct with original owner for me and AFTER that transfer the land to child.

Would that usufruct still be void after my daughter owns the land ?

If yes - that is the way to go to optain a usufruct rather than try through juvenile court

No, the usufruct will remain valid.

[bkmbkk]

Ok - let me see !

My situation is that I am not married but have a child (Thai national, 7 year).

IF I make a usufruct with original owner for me and AFTER that transfer the land to child.

Would that usufruct still be void after my daughter owns the land ?

If yes - that is the way to go to optain a usufruct rather than try through juvenile court

No, the usufruct will remain valid.

Thank you - I used the wrong word for some reason (should be valid instead of void), but the result is the same.

The usufruct is still valid after my daughter owns the land ! - Than that's the way to go

[InterestedObserver]

Ok - let me see !

My situation is that I am not married but have a child (Thai national, 7 year).

IF I make a usufruct with original owner for me and AFTER that transfer the land to child.

Would that usufruct still be void after my daughter owns the land ?

If yes - that is the way to go to optain a usufruct rather than try through juvenile court

No, the usufruct will remain valid.

Thank you - I used the wrong word for some reason (should be valid instead of void), but the result is the same.

The usufruct is still valid after my daughter owns the land ! - Than that's the way to go

Land with an encumbrance cannot be transferred to a minor child.

[bkmbkk]

Ok - let me see !

My situation is that I am not married but have a child (Thai national, 7 year).

IF I make a usufruct with original owner for me and AFTER that transfer the land to child.

Would that usufruct still be void after my daughter owns the land ?

If yes - that is the way to go to optain a usufruct rather than try through juvenile court

No, the usufruct will remain valid.

Thank you - I used the wrong word for some reason (should be valid instead of void), but the result is the same.

The usufruct is still valid after my daughter owns the land ! - Than that's the way to go

Land with an encumbrance cannot be transferred to a minor child.

I see - than it's not the way to go.

Thanks for the clarification - thought it sounded a bit too easy !

[johnnyk]

Again, you asked somebody to cite the Thai law pertaining to ownership of one rai of land by a foreigner for a house. You got it. The fact that you don't have the requisite 40 million baht is irrelevant to the answer.

Yes you are right ,I do not have that kind of money!

Do you?

Your information is a joke. Many special conditions have been available for Millionaires in Thailand for a long time, high lighted by Thaksins millionaire gold card.

Such as golf club discounts and shorter line-ups at the airport. No land, though

What I find irrelevant is for non-millionaires expats that believe under special condition they could legally own land in Thailand.Your information is no help to the great majority who do not qualify for those special conditions.

The last person I had that conversation with made $25,000 a year, yet he was adamant that he could own up to one rai of land.

How many expat Millionaires do you know in Thailand that utilize those special conditions,

How many Ex pat millionaires are there permanently in Thailand, Two ,Three, ten ,Twenty etc

I do not consider that an adequate answer to the post I addressed, unless the poster I answered is one of those Millionaires!

Cheers:

[wolf5370]

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.

The usufruct can only be voided if it is solely between the husband and wife (i.e. part of the estate) - if a third person is also on the usufruct , then it is non voidable under dicorce prceedings (at it would affect a third party). So, best to add another to the usufruct (any third party you trust will do). Agree, no need for lease - why pay the fees and taxes?