Partial Change In Farang Land Ownership Policy?

[Steve2UK]

Before I get jumped on with accusations of spreading false rumours, let me stress that I'm putting the following as a question - as in "Has anyone heard anything about this?".

I was talking this afternoon to a heavyweight Chiang Mai Thai lawyer (partner in ICO) about various legal matters. In the course of our meeting, she told me that she had read in the Thai language press just last week that active consideration is being given to allowing foreigners to purchase land/property from banks who have foreclosed on the property. As she described it, the relevant authorities were reported to be looking sympathetically at the idea - the purpose being to help out the banks. When I asked what timescale was mentioned if this were to be introduced, she said maybe in about 2 months. She is still trying to find out more and that is all I know.

If this is going to happen, it would apparently be limited to foreclosed property that the bank holds, wants to dispose of and would mortgage - therefore it's by no means a free-for-all opening up of the well-known bar on foreigners owning land generally. But - maybe it's a glimmer of daylight? Given that it seems to be aimed at helping Thai banks, one can see the logic - but how often does that make a thing happen...... TIT etc ?

So, does anyone else know anything more about this?

[expatinasia]

The probability of this happening in 2 months is zero. The probability of this happening in 2 years or 2 decades is approximately the same.

[JuniorExPat]

Hi Steve

Interesting 'rumour', I would love to believe that logic and common sense will prevail to allow it become reality!

Off-topic . . . would you share the name of your heavyweight lawyer as I am having lawyer 'issues' at the moment in Chiang Mai and need to start shopping around again.

Thanks.

JxP

[Steve2UK]

Hi Steve

Interesting 'rumour', I would love to believe that logic and common sense will prevail to allow it become reality!

Off-topic . . . would you share the name of your heavyweight lawyer as I am having lawyer 'issues' at the moment in Chiang Mai and need to start shopping around again.

Thanks.

JxP

<{POST_SNAPBACK}>

Hi JxP- have PM'd you about the lawyer.

Have to admit, I was also sceptical about both the proposition and the timing - I wouldn't have posted a mention of it but for the source.

Edited June 22, 2005 by Steve2UK