Can Child Own House?

[Bung]

So (according to the link) an usufruct is out. In my situation

Is it possible to get a 30 year lease then from my son/owner of land/house?

[trogers]

So (according to the link) an usufruct is out. In my situation

Is it possible to get a 30 year lease then from my son/owner of land/house?

My guess is that you will have to ask him when he turns 20.

[Bung]

I see. So can I just take him along to the land office and get his name on the chanote when we transfer the land? Or is there more to it?

[InterestedObserver]

You cannot get an usufruct or more than 3 year lease registered at the land office on land owned by a minor. It is easy to give to minors and difficult to take away, you will need court decision and you won't get that (good for the child? hardly). Your lawyer is wrong. Usufruct if the wife owns the land yes, child no. Best for the childs future should be that the child owns the land I would think (if you have shared custody)

Curiosity question here. I know it is possible to transfer title to a piece of land that has a usufruct on it, and the usufruct remains intact despite the new owner. Does that mean it is possible to transfer the land into the child's name with a usufruct, assuming the usufruct existed before the transfer? You can not give debt to a child, but this would be something different than that. It is simply that the land that has been gifted to him has restrictions (a usufruct), same as if the land had an easement, for example.

It seems like this would be allowed. I've never heard of anyone doing it, so I don't know if it has ever been tested.

Does anyone know the law here?

I assumed that as well. You can give your child a gift with the usefruct already on it but not establish it later. Than you need the court approval etc.

But I don't know the law on this.

Section 1574(9) of the Civil and Commercial Code prohibits parents from accepting a gift subject to any condition or charge for a minor child. This would tend to rule out any preexisting usefruct.

Edited January 8, 2011 by InterestedObserver

[Bung]

I just bought a house in CM and put it in my 9 y/o sons name. I have full custody of him and there was some chat about that but it went through ok. Didn't have to sign anything. Ownership of the house is in my name.

Edited February 1, 2011 by Bung

[Mario2008]

I just bought a house in CM and put it in my 9 y/o sons name. I have full custody of him and there was some chat about that but it went through ok. Didn't have to sign anything. Ownership of the house is in my name.

You put it in your son's name and you put it in your name????

Do you mean you put the land in your son's name and the house in your name?

[InterestedObserver]

I just bought a house in CM and put it in my 9 y/o sons name. I have full custody of him and there was some chat about that but it went through ok. Didn't have to sign anything. Ownership of the house is in my name.

Did you get a 30 year lease or usufruct registered on your son's land? Gifting land to a minor child is easy, the hard part then becomes registering ownership of the house in your foreign name.

[wolf5370]

One has to be careful of a USUFRUCT between huband and wife as this has been considered part of the matrimonial estate (i.e. assets that could be divided) in marriage cases (its why good lawyers will suggest a third party so that it is then excluded from the matromonial estate) and overridden by the courts - that is, the USUFRUCT removed and the land divide (in foreign hands it woiuld have to be immediately sold - I think there is a grace period of a year in which to sell it). So, if you USUFRUCT, make it between you, a third party (a farang sibling is fine - they can live abroad but may need to sign papers) and your wife as land owner.

I am not sure about the legalities in Thailand, but could theland not be put in trust until she is of age (say 21) with both yourself and your wife a dual executors of the trust (i.e. both signitures required). A USUFRUCT perhaps also on it to protect you from falling out with your daughter by the time she reaches that age.

[wolf5370]

One has to be careful of a USUFRUCT between huband and wife as this has been considered part of the matrimonial estate (i.e. assets that could be divided) in marriage cases (its why good lawyers will suggest a third party so that it is then excluded from the matromonial estate) and overridden by the courts - that is, the USUFRUCT removed and the land divide (in foreign hands it woiuld have to be immediately sold - I think there is a grace period of a year in which to sell it). So, if you USUFRUCT, make it between you, a third party (a farang sibling is fine - they can live abroad but may need to sign papers) and your wife as land owner.

I am not sure about the legalities in Thailand, but could theland not be put in trust until she is of age (say 21) with both yourself and your wife a dual executors of the trust (i.e. both signitures required). A USUFRUCT perhaps also on it to protect you from falling out with your daughter by the time she reaches that age.

Just to clarify - the trust would own the land titel until her 21st birthday - therefore a USUFRUCT does NOT have to be (Illegally) passed to a minor - she will be 21 when it is passed (and thus legal).

Edited February 1, 2011 by wolf5370

[InterestedObserver]

Just to clarify - the trust would own the land titel until her 21st birthday - therefore a USUFRUCT does NOT have to be (Illegally) passed to a minor - she will be 21 when it is passed (and thus legal).

There is no such thing as a land trust in Thailand. You either get the usufruct registered on the back of the Chanote or you do not have land rights.

[wolf5370]

Just to clarify - the trust would own the land titel until her 21st birthday - therefore a USUFRUCT does NOT have to be (Illegally) passed to a minor - she will be 21 when it is passed (and thus legal).

There is no such thing as a land trust in Thailand. You either get the usufruct registered on the back of the Chanote or you do not have land rights.

OK so trusts can't own land. How about a holding company with shares in the kid's name (again either in trust or simply inactive - no voting rights - until of age) - would that work?