Expat Property Ownership Poll

[WhiteShiva]

This expression "dont invest more in a house than your willing to lose" is just bull-shit.

<{POST_SNAPBACK}>

I must have missed that one - who said that?

[Sir Burr]

I am happy that my prior opinion that about 3/4s of falang buy, build and then rent back their homes has some support.

The comment regarding renting out your house if you rent it from you wife isn't possible doesn't contemplate a sub-lease to the lessee.

It's not about sub-leasing. It is about maybe having to form a company, work-permit, taxes, deportation etc. If in your wife's name, a lot simpler and no potential deportation.

You say 75% of farang rent back their homes?

Check the results so far of the poll. In my opinion? Less than 10%.

[Sir Burr]

This expression "dont invest more in a house than your willing to lose" is just bull-shit.

I must have missed that one - who said that?

Maybe the exact term I have seen on countless threads on TV is:-

"Never invest more money in Thailand than you're willing to lose".

I count a house as an investment.

[Jai Dee]

I count a house as an investment.

So do I.

And I also count my marriage as an investment.

[avantgarde35]

What about "usufruct" ?

I don't see you guys talk about that. Is there anyone do that?

We didn't buy any land yet but that is what I'm planning to do.

actually , I think it even better than lease .. or not?

[Tornado]

Edited August 26, 2005 by Tornado

[Tornado]

In Thailand you cant own land in your own name if your not Thai, so to form a usufruct (two owners sharing the property etc), how could you buy the land in the first place without forming a company?

As the boundaries are not stated in this way, you cannot split it into a house/land type deal..

Thats my take on it anyway, but Im just thnking out loud - dont know is the answer.

[RDN]

References to "usufruct" on Thaivisa:

http://www.thaivisa.com/forum/index.php?showtopic=41501

http://www.thaivisa.com/forum/index.php?showtopic=19740

http://www.thaivisa.com/forum/index.php?showtopic=36607

http://www.thaivisa.com/forum/index.php?showtopic=5037

[avantgarde35]

I know that I can't buy property in Thailand , that's why.

We just gonna buy a property in my thai wife name

and form the usufruct so my name will appear in the land title just

next to her name and I also will have the right on that property until I die.

And to form the usufruct cost not even 100 Baht.

I also want to know too , how much do you have to pay to lease the property

from your wife. Do you (your wife) still need to pay the 12.5% property income tax on the land that you lease every year ?

Thanks

[bino]

I didn't vote- no category that applies to me. I'm in the same situation as Nordlys. Live in a condo- bought in my own name.

[meom]

...

And I also count my marriage as an investment.

I see it more as a hobby;taking up my time and costing me money.

[Jai Dee]

...

And I also count my marriage as an investment.

I see it more as a hobby;taking up my time and costing me money.

That's sad...

[ProThaiExpat]

I am happy that my prior opinion that about 3/4s of falang buy, build and then rent back their homes has some support.

The comment regarding renting out your house if you rent it from you wife isn't possible doesn't contemplate a sub-lease to the lessee.

<{POST_SNAPBACK}>

It's not about sub-leasing. It is about maybe having to form a company, work-permit, taxes, deportation etc. If in your wife's name, a lot simpler and no potential deportation.

You say 75% of farang rent back their homes?

Check the results so far of the poll. In my opinion? Less than 10%.

<{POST_SNAPBACK}>

To me the poll is confusing and therefore it can't be trusted as a indication of what people really meant. I read the leased option to mean a renter who leases from a third party landlord.

Registered in partners name was interpreted to mean those who buy and place in wife's/partners name and lease back from them so in the event of their death, relatives don't evict. IMHO this is the most often used option by falang in Thailand, but I could be very wrong.

A careful reading of the posts in this thread are all over the place on how the poll was interpreted. Likewise, the thread has denegrated, as usual, in this area between those who insist the company approach is the safest, those who "give" the property away to the wife with the intent of walking away from the property if they divorce and those of us who aren't worried about our love ones evicting us, but want protection from relatives upon mate's death through the 30 year lease method.

[ProThaiExpat]

I know that I can't buy property in Thailand , that's why.

We just gonna buy a property in my thai wife name

and form the usufruct so my name will appear in the land title just

next to her name and I also will have the right on that property until I die.

And to form the usufruct cost not even 100 Baht.

I also want to know too , how much do you have to pay to lease the property

from your wife. Do you (your wife) still need to pay the 12.5% property income tax on the land that you lease every year ?

Thanks

<{POST_SNAPBACK}>

Using a lawyer, probably not a good one, I created a mortgage on the property the monthly payments on which equal the monthly rent payments no no money changed hands. However, tax man came and said tax due on rent payments even if never paid. The end result was negotiated to 10k for 3years of taxes. Since the land value was severely understated by the seller and buyer, I think the rent payable under the lease was the "value" that was taxed.

The lawyer never mentioned usurfuct. Does it survive the co-usurfuctee?

[pnustedt]

We have bought about 40 rai of land, and just bought a new house in town where my wife and I will live whilst we build another house on one of our plots of land. We will then rent out or sell the house in town.

Everything is in my wife's name.

If my wife and I fell out I don't think I'd want to hang around (those who have met her will understand why ). If she died and her family wanted me out I would go.

[Thetyim]

I have advised many friends over the years to take out a lease on the property that they have bought in their girlfriends/wives name.

I pointed out all the positive points of having the lease.

How many of my friends took out a lease?

None, they were all scared of asking their wives.

Good advice there, Sir Burr.

A policy I wish I had adopted some 15 years ago.

This is written by someone who has lost not one but two houses.

[Dragonman]

We have bought about 40 rai of land, and just bought a new house in town where my wife and I will live whilst we build another house on one of our plots of land. We will then rent out or sell the house in town.

Everything is in my wife's name.

If my wife and I fell out I don't think I'd want to hang around (those who have met her will understand why ). If she died and her family wanted me out I would go.

<{POST_SNAPBACK}>

Me too! I simply wouldn't want to live in my present property without my wife. For a single guy, not really the place to be, so a lease would be of no use. Depends on where you live and would you like to continue living there. Having a sub letting clause is OK, but unless the property is valuable, not worth the hassle for a few 1000 baht a month.

[zaz]

I am happy that my prior opinion that about 3/4s of falang buy, build and then rent back their homes has some support.

The comment regarding renting out your house if you rent it from you wife isn't possible doesn't contemplate a sub-lease to the lessee.

<{POST_SNAPBACK}>

It's not about sub-leasing. It is about maybe having to form a company, work-permit, taxes, deportation etc. If in your wife's name, a lot simpler and no potential deportation.

You say 75% of farang rent back their homes?

Check the results so far of the poll. In my opinion? Less than 10%.

<{POST_SNAPBACK}>

To me the poll is confusing and therefore it can't be trusted as a indication of what people really meant. I read the leased option to mean a renter who leases from a third party landlord.

Registered in partners name was interpreted to mean those who buy and place in wife's/partners name and lease back from them so in the event of their death, relatives don't evict. IMHO this is the most often used option by falang in Thailand, but I could be very wrong.

A careful reading of the posts in this thread are all over the place on how the poll was interpreted. Likewise, the thread has denegrated, as usual, in this area between those who insist the company approach is the safest, those who "give" the property away to the wife with the intent of walking away from the property if they divorce and those of us who aren't worried about our love ones evicting us, but want protection from relatives upon mate's death through the 30 year lease method.

<{POST_SNAPBACK}>

To be honest I wasn't aware of a few of the methods e.g. sub-leasing from the wife etc discussed in some of the posts above.

The poll actually only consists of the 3 basic methods of property ownership that I was aware of at the time. The leasing option was meant as leasing from a 3rd party/landlord rather than from the wife. So any votes from people leasing from their wife should actually go into the 3rd category (property in wife's name).

Nevertheless, I find the results of the poll quite intriguing as the overwhelming majority of the voters have their properties in their Thai partner's name. Very interesting - thanks to all voters and respondents, much appreciated.

[PattayaEx]

Following on from my previous topic, I'd be interested to know how popular the above routes of property ownership are.

If anyone has any advise or comments please post.

Thanks

zaz

<{POST_SNAPBACK}>

well ...hmmm

ive been living on and off for some time now, and i find my women to be the right choice i started a business for her way back in 2001 and ever since , my trips to pattaya have been tottaly payed for by her..i mean from daily cash to short time flints

never complained since

[loong]

well ...hmmm

ive been living on and off for some time now, and i find my women to be the right choice i started a business for her way back in 2001 and ever since , my trips to pattaya have been tottaly payed for by her..i mean from daily cash to short time flints

never complained since

How can you live on and off?

Who raises you from the dead for your 'alive' periods?

Edited August 27, 2005 by loong

[meom]

...

And I also count my marriage as an investment.

I see it more as a hobby;taking up my time and costing me money.

That's sad...

Depends your interpretation I guess. If you look at it negative it might seem sad because in between the lines you might get the idea I don't like to spent the time or money.If you look at it positive it ain't so sad because hobbies are normally something to be enjoyed and many people with (whatever) hobby spent as much time and money on it as possible.

I look at it positive

[Lazy Sod]

Many of the respondents seem to be living in relatively low value properties in Nakon Nowhere (no offence) and would not want to live there without their wife. However, if you are paying a lot of money for a house in Bangkok, Phuket, Pattaya, etc. then I'd go the company route no matter how much you trust the misses. You can always sell the house from the company to the misses later if you feel like it. Most lawyers and almost all real estate agents will advise the company route as they have personally witnessed the large number of foreigners who have lost everything when property is in the name of the Thai wife/Thai husband.

[billd766]

Many of the respondents seem to be living in relatively low value properties in Nakon Nowhere (no offence) and would not want to live there without their wife. However, if you are paying a lot of money for a house in Bangkok, Phuket, Pattaya, etc. then I'd go the company route no matter how much you trust the misses. You can always sell the house from the company to the misses later if you feel like it. Most lawyers and almost all real estate agents will advise the company route as they have personally witnessed the large number of foreigners who have lost everything when property is in the name of the Thai wife/Thai husband.

<{POST_SNAPBACK}>

Well I suppose 2 1/2 M baht is relatively low value compared to Bangkok, Phuket, Pattaya etc but where I live waay out in the sticks I feel that I have a much better standard of living than in a city. I have fresh air, no traffic jams except for the 2 minute jam on market days. When I go to the village people talk to me and smile a lot and are genuinely friendly, nobody rips me off and I pay the same as Thais do.

Are you serious when you say that you would trust lawyers and real estate agents rather than your wife?

They are in a business to make money and when they have made it they don't care about you any more.

I was married in the UK and when I got a divorce it cost me much more than it ever will in Thailand should my Thai wife ever divorce me.

I trust my wife with all that we own which is more than I would ever do with a stranger such as a lawyer or real estate agent.

What is the main difference between a shark and a lawyer?

Lawyers eat sharks but sharks rarely eat one of their own kind.

[JohnC]

I am just about to buy a new build house, I am using a lawer that comes highly recommended by a ex pat whose company has used this firm for over 20 years so I am comfortable with that. As I am not married but have a b/f the company route is the one for me as we have not been together long enough for me to know how long it may or may not last. He will be a minority shareholder and I will put in place a will ensuring he is secure if anything happens to me. In the event we split i can revoke the will and I know this lacks committment but as this will be my retirement I need some safeguards in place. I have yet to iron out the fine detail as I only set things in motion this week so i will follow this thread with interest.

[Boo]

My husband & I have agreed that the house we will build in Khon Kaen will be in his name alone & all money will be held by me off shore in my name, that way, he has some security & if it all goes tits up then I have the cash & can just walk away. The cost of building the house in the sticks will be less that 20k pounds & is an amount I can afford to walk away from. Any future property/lands bought after that wil be in a company name with both of us as equal shareholders & if the worst happened, we will sell it or one of us will buy the other out (prob me) . I have no desire to own a house in issan as if we split I wouldn't live there anyway, so this agreement suits us both.

[wolf5370]

Wifey and I have about 30 Rai of land. Its all in her name, but we don't live on it. It was bought as an investment and is quality building land (above water table) off a main road with a University, zoo and coach station near by. I bought it very cheap and its already worth 5 times what I paid 5 years (or so) ago (Baht to £ is also pretty much as it was at the time too).

We have two beautiful kids together and are still very much in love (2 years courting + 8 years married and counting). In the unlikely event that she dies, I sell and the kids get the money.

If I die, she sells and the money helps my missing pay packet.

In the unlikely event we split, the kids will most likely go with her, so the land will too.

I all works out, we will sell and buy a smaller plot in CM to like on and pocket the rest sometime in the future.

PS: Checked last option as expected

Edited August 31, 2005 by wolf5370

[teevee]

All of our property in Thailand is in my wife's name including property in Phuket, Bangkok, Ratchaburi & Prachinburi which currently adds up to +/- 120,000,000 baht. Having read through this thread, its obvious that some will think I'm pretty stupid but I'm pleased to see there are a good few respondents with much the same attitude as mine; "when you love someone you also trust them"

As for the future, after being married for 9 years and having lived in Thailand for 12 years, I have pretty much adopted the Thai way and I dont worry too much about the future - and my life is much better for it. However, just to keep it all together in the event my wife dies, all of her property is willed to my 3 year old son and I'm the executor of the estate until he is twenty one.

[GarryP]

I will be buying in the next couple of years and the house will go in my son's name. In fact all property my wife inherited and has been given (not much, but not to be sniffed at either) is also being put in our son's name. He will then proceed to kick us both out!!!!

[BEENTHEREDONETHAT]

Own a condo, ownership is legal and it is in my wifes name as well as mine (wife is farang also).

[BigArt]

All of our property in Thailand is in my wife's name including property in Phuket, Bangkok, Ratchaburi & Prachinburi which currently adds up to +/- 120,000,000 baht. Having read through this thread, its obvious that some will think I'm pretty stupid but I'm pleased to see there are a good few respondents with much the same attitude as mine; "when you love someone you also trust them"

As for the future, after being married for 9 years and having lived in Thailand for 12 years, I have pretty much adopted the Thai way and I dont worry too much about the future - and my life is much better for it. However, just to keep it all together in the event my wife dies, all of her property is willed to my 3 year old son and I'm the executor of the estate until he is twenty one.

Thanks for the heads up on how wealthy you are - or is it a case of my donger is bigger than yours