Own Land= "New Law"

[swissie]

The latest out of Nakhon Phanon: According to my wife, a Farang can now co-own land with his (Thai)-Wife = 50/50. Only restriction: Farang can not sell the Land, only Thai-Wife can.

The whole thing sails under "a new law". (I wonder if it sails at all !) Anyone heard of this "new law" ?

Thanks & cheers.

[Langsuan Man]

Trust us, if there had been anything about a "new" property law it would have been reported by someone here at TV

I am afraid that your wife is referring to the fact that land would be community property and in a divorce the proceeds from a sale would be divided 50 / 50, which seems to indicate that the land is owned by both, when actually it is only legally owned by the Thai wife

[Mario2008]

No such law, you cannot co-own land with your wife.

[ESB7]

No such law, you cannot co-own land with your wife.

You gotta be sihittin me???...I have 300 thousand million Baht invested in land with my wife as she said I owned half?.....

[Mario2008]

No such law, you cannot co-own land with your wife.

You gotta be sihittin me???...I have 300 thousand million Baht invested in land with my wife as she said I owned half?.....

No, but you are shitting me.

[katabeachbum]

Trust us, if there had been anything about a "new" property law it would have been reported by someone here at TV

I am afraid that your wife is referring to the fact that land would be community property and in a divorce the proceeds from a sale would be divided 50 / 50, which seems to indicate that the land is owned by both, when actually it is only legally owned by the Thai wife

and the courts usually grant 365 days to complete such sale and split the money 50/50. after 365 days it goes on auction

one way to secure wife ownership is for your friend/relative to register a loan in land deed, and you keep a document loan has been repayed. good for 30 years and register-cost is 0,1% of loan amount

[ESB7]

No such law, you cannot co-own land with your wife.

You gotta be sihittin me???...I have 300 thousand million Baht invested in land with my wife as she said I owned half?.....

No, but you are shitting me.

At least I can keep solace in the knowledge I own half our Fortuna

[Pib]

I guarantee you when and if the time every comes that a farang can "easily" own land in Thailand with the land 100% in their own name (excluding that one current option to own 1 rai of land to build a home on to live in with your Thai spouse if you invest 40M baht in Thai bonds for 5 years with ownership monitored by the Land Dept...boy, don't that sound easy) that it will be preceded by months, probably years, of debate, screaming & hollowing at all levels of government and general public. The debate would probably exceed the level of debate between the Red and Yellow Shirts. By the time it would be passed into law even the gecko's would have known in advance.

[Pib]

At least I can keep solace in the knowledge I own half our Fortuna

You talking a SUV when you say Fortuna? Car ownership can only be in one name I think...I know when I bought my Toyota Fortuner and we wanted to put in in both our names (the Thai wife and I) we were told, "No can do!" Only one name. So, we flipped a coin, I won, the SUV is in my name....as if that would really make any difference in a divorce.

[transam]

No such law, you cannot co-own land with your wife.

You gotta be shitting me???...I have 300 thousand million Baht invested in land with my wife as she said I owned half?.....

::cheesy:: Made my day, sorry, sorry.

[ESB7]

At least I can keep solace in the knowledge I own half our Fortuna

You talking a SUV when you say Fortuna? Car ownership can only be in one name I think...I know when I bought my Toyota Fortuner and we wanted to put in in both our names (the Thai wife and I) we were told, "No can do!" Only one name. So, we flipped a coin, I won, the SUV is in my name....as if that would really make any difference in a divorce.

Its tongue in cheek.....I own the car and its a Mazda not a Fortuna but the house is in the wifes name and thats it and I am happy as wih 4 of our own kids I dont care as it benefits them..300 billion was a joke....foreigners will always have a hard time here but thats not a bad thing.......

[DoubtingThomas]

At least I can keep solace in the knowledge I own half our Fortuna

You talking a SUV when you say Fortuna? Car ownership can only be in one name I think...I know when I bought my Toyota Fortuner and we wanted to put in in both our names (the Thai wife and I) we were told, "No can do!" Only one name. So, we flipped a coin, I won, the SUV is in my name....as if that would really make any difference in a divorce.

Its tongue in cheek.....I own the car and its a Mazda not a Fortuna but the house is in the wifes name and thats it and I am happy as wih 4 of our own kids I dont care as it benefits them..300 billion was a joke....foreigners will always have a hard time here but thats not a bad thing.......

Really spoils it when you have to explain you were joking. Especially when it's this obvious.

I thought it was funny ESB. Keep it up. Nice you've still got a sense of humor with four kids. Obviously none a senior yet, or perhaps a pain you have already been through and begun the slow recovery process? If not, keep laughing now while you can!

[BlackJack]

i really cant understand why you guys do this

in Thailand Thais win always

my GF runs a law service and everyday she gets another stupid falang customer thats invested and lost the lot and wondering what to do

so guys keep investing as shes making as she's making a killing

[BuPattaya]

No such law. My wife and I have a couple pieces of land, which of course is in her name, but if we divorce. It is 50/50 when we sell, but other then that. It is all hers.

So just think of it this way, your living on the land you bought your wife. If you ever divorce then you will have to fight to get her to sell it, but if you can. Your entitled to half of the proceeds. If she declines, you can go to court, but you know the Thai court system is not going to lean your way at all.

Anyway, 300K is still cheap, so don't sweat it to much...

Edited January 4, 2011 by BuPattaya

[Khun Jean]

Blackjack i see another customer for your GF in the future from pattaya.

[JimGant]

but you know the Thai court system is not going to lean your way at all.

Yeah, especially if the Land Office has a piece of paper, with your signature, stating the land was bought entirely with her money.....