Divorce,with House

[denz2601]

looking for a bit of advice,i have been married for 5 years to a thai girl,and are now looking to get divorced,i have a house that is in a company name which ive had for 1 year,will my wife be able to get her hands on this house?we are still married at the moment???????

[Dragonman]

looking for a bit of advice,i have been married for 5 years to a thai girl,and are now looking to get divorced,i have a house that  is in a company name which ive had for 1 year,will my wife be able to get her hands on this house?we are still married at the moment???????

<{POST_SNAPBACK}>

I am sure a judge would consider your assets in the company as marital assets and thus she would be able to make a claim for 50%. If it's not a genuine Company don't antagonise her too much, as it's illegal you know

See if a good lawyer can find of a way around it.

[Sumitr Man]

Without knowing if she is an existing shareholder of the company (if not the major shareholder) and what the articles of association of the company specify - it would be impossible to say.

Also, one would assume that you have the right to abode in the house by virtue of a lease agreement with the company or as a director of the company. You'd also need to clarify this before you could be given a fuller answer.

Lacking a pre-nup, I would say Dragonman's comment re common property are right - but you may still be able to establish a right of abode via a lease even if you no longer have the support of the company (unless, of course, you were the signtory on the lease agreement as both director of the company leasing the property and as tenant )

SM

[Dragonman]

Without knowing if she is an existing shareholder of the company (if not the major shareholder) and what the articles of association of the company specify - it would be impossible to say.

Also, one would assume that you have the right to abode in the house by virtue of a lease agreement with the company or as a director of the company.  You'd also need to clarify this before you could be given a fuller answer.

Lacking a pre-nup, I would say Dragonman's comment re common property are right - but you may still be able to establish a right of abode via a lease even if you no longer have the support of the company (unless, of course, you were the signtory on the lease agreement as both director of the company leasing the property and as tenant  )

SM 

<{POST_SNAPBACK}>

Ah, and yet it's so easy to sign that marriage registration form

I still feel my plea of temporary insanity will release me of my contractual obligations

[Lazy Sod]

If you are the sole Signatory for the company then theoretically you (the Company) could simply sell the house. Once the cash is in your bank account then you'll be in a stronger position to negotiate a divorce settlement. As Dragonman said, I suggest you find a lawyer and go to see them before doing anything.

[Sumitr Man]

^ two problems with the above.

1 - the money would need to go into the company's bank account, not yours. Thereafter, you may well be looking at a liquidation of the company, which equates to a payout of excess cash to shareholders via a dividend payment (not necessarily the route you want to be taking, depending on who the shareholders are). Also may not be a good tax move.

2 - if the property represents the major asset of the company, you may well need shareholder approval before selling the property (as a director).

SM

[LivinLOS]

Surely he is likely to be only a 49% or 39% share holder in the company.. I would have asusmed that limited her ability to claim against it ??

I had been informed that Thai divorce situation does not often attach assets in the way westerners would expect.. I know of many couple that split where it was simply grab what you can and one party or other lost out (usually on how much wa sin her name or not)..

[Dragonman]

Surely he is likely to be only a 49% or 39% share holder in the company.. I would have asusmed that limited her ability to claim against it ??

I had been informed that Thai divorce situation does not often attach assets in the way westerners would expect.. I know of many couple that split where it was simply grab what you can and one party or other lost out (usually on how much wa sin her name or not)..

<{POST_SNAPBACK}>

Divorce laws are pretty clear on 50% of communal property. However negotiations are I'm sure able to agree most things.The law does not relate to what's in each other's name. Even if she has never bought a thing, and never worked, she can still claim half

Your first setence would be correct if it is a working Company and it can be shown by his lawyer that he does not have 100% liquid assets. The trouble is most of these Companies are not genuine, and if I were her lawyer I'd go out of my way to prove this. For a fee