Condo Transfer

[charlie1968]

hi all

i bought 2 condos in pattaya about 5 years ago with a friend of mine

we bought the condos in joint names

we are both from england

my friend now lives in thailand

i want to now how can i get only one name on each condo

so we both own a condo 100% each instead of half of each

what it is i dont trust my friend has he has changed

to sort it out in thailand on his own

thanks and hope to get some replies

thanks charlie

[tangoll]

What you wish to do would involve a separate sale and transfer of ownership of each condo to each one of you. I think you should probably consult a lawyer to help you do this to minimize transfer tax/fees (especially if the condo is at or near 5 year limit for relaxing the Specific Business Tax), etc. But the complication would be that each new purchase would involve having to import new funds, and obtaining the Foreign Exchange Transaction Form for each transaction, assuming that either or both are non-Thais.

Would it be easier just to sell each condo unit to unrelated buyers, share the proceeds, and each of you then can do what you wish with your share -- buy a new condo in your own name, rent, etc. Nevertheless, you need to check on the time limit for SBT; note that the calculation of what constitutes the 5 year limit is not the normal way one would assume is 5 years of ownership.

[hhgz]

If the condos are "equal" - you'd be happy to own either condo outright, and your friend feels the same - I think a simple transfer at the land department would be the cheapest and quickest way to do it. I'd suggest speaking with someone in the "sales/rental" office of your condo development.

[tangoll]

hhgz, what exactly is a "simple transfer". I think what the OP wants to do is more complicated than merely going to the Lands Dept office and asking them to cross out two names and insert a single new name on the chanote. I doubt if the sale/rental office or juristic office would have any idea how to accomplish this.