Usufruct

[swissie]

Can a USUFRUCT be cancelled by the grantor of the usufruct ?

Example: Usufruct is issued to "have the right to live on property until death" ?

This may be of interest to a very large number of Farangs for obvious reasons.

Thanks & cheers.

[Mario2008]

It is a contract and as such can only be cancelled with the aproval of both parties.

[swissie]

It is a contract and as such can only be cancelled with the aproval of both parties.

Thanks Mario, that's all I needed to know.

Cheers.

[Khun Jean]

Unless the one that grants the usufruct is your spouse, then the contract can and therefore will be dissolved when divorced.

[rawhod]

Unless the one that grants the usufruct is your spouse, then the contract can and therefore will be dissolved when divorced.

As I understand it, in these circumstances either party can cancel the usufruct at any time.

[InterestedObserver]

It is a contract and as such can only be cancelled with the aproval of both parties.

Thanks Mario, that's all I needed to know.

Cheers.

From the Thai Civil and Commercial Code:

Section 1469. Any agreement concluded between husband and wife during marriage may be avoided by either of them at any time during marriage or within one year from the day of dissolution of marriage; provided that the right of third persons acting in good faith are not affected thereby.

[Sunbelt Asia]

A usufruct can be cancelled but it must be on the agreement of both parties. In the event of a usufruct with a Thai spouse. the spouse cannot cancel the agreement without the consent of the foreign partner but may apply to the Courts to have it cancelled in the event of a divorce. If the Court orders the cancellation that does not necessarily mean the Thai spouse will gain full rights as, under Thai law, any assets gained during marriage are marital assets to be split 50/50 and the Court may order the sale of the land in order to divide the assets equally.

In cases of divorce where the assets are unclear or division is contested, it may be best to get a lawyer involved.

[sunbelt][/sunbelt]

[thaiwanderer]

Cancellation by accelerated death is also possible.

[swissie]

A usufruct can be cancelled but it must be on the agreement of both parties. In the event of a usufruct with a Thai spouse. the spouse cannot cancel the agreement without the consent of the foreign partner but may apply to the Courts to have it cancelled in the event of a divorce. If the Court orders the cancellation that does not necessarily mean the Thai spouse will gain full rights as, under Thai law, any assets gained during marriage are marital assets to be split 50/50 and the Court may order the sale of the land in order to divide the assets equally.

In cases of divorce where the assets are unclear or division is contested, it may be best to get a lawyer involved.

[sunbelt][/sunbelt]

What would be the Thai-word for "usufruct" ?

Thanks.

[a99az]

I guess, but I am not sure, if one had bought land and house for the girl friend had also had drawn up a usufruct at the same time, then later married that this contract would still be solid as this would be considered a prenuptial agreement. True or false?

[InterestedObserver]

I guess, but I am not sure, if one had bought land and house for the girl friend had also had drawn up a usufruct at the same time, then later married that this contract would still be solid as this would be considered a prenuptial agreement. True or false?

False, a prenuptial agreement must be registered at the local Amphur simultaneously with the marriage.

[LennyW]

What would be the Thai-word for "usufruct" ?

Thanks.

สิทธิเก็บกินSithṭhi kĕb kin

[swissie]

What would be the Thai-word for "usufruct" ?

Thanks.

สิทธิเก็บกินSithṭhi kĕb kin

Thanks, Lenny.

[MRTELLYOUSTRAIGHT]

Cancellation by accelerated death is also possible.

That sure is an option for the other party, today's friends tomorrows enemies.

[kirkieb]

So then to stay safe could the land be in the wives family name eg. her Mother and the Usufruct agreement is with her not the spouse. Then if divorce or death were to happen the Mother In Law had no right to cancel the agreement based on divorce or death of the spouse therefore ensuring both parties had to agree to disolve the Usufruct Agreement. Making it much safer for the Farang who invested for life

[stgrhe]

So then to stay safe could the land be in the wives family name eg. her Mother and the Usufruct agreement is with her not the spouse. Then if divorce or death were to happen the Mother In Law had no right to cancel the agreement based on divorce or death of the spouse therefore ensuring both parties had to agree to disolve the Usufruct Agreement. Making it much safer for the Farang who invested for life

Another alternative is to add a second name on the usufruct rights.

[sfokevin]

Cancellation by accelerated death is also possible.

That sure is an option for the other party, today's friends tomorrows enemies.

Safer to just buy a low floor condo in your own name :jap:

Edited August 6, 2011 by sfokevin

[bbradsby]

OK, can a usufruct be added to a property as a stand-alone legal process, subsequent to the purchase, i.e., without a concurrent property sales transaction? Or must the usufruct be registered at the same time as a clear chanote title transfer?

Thanks,

Edited August 7, 2011 by bbradsby

[stgrhe]

OK, can a usufruct be added to a property as a stand-alone legal process, subsequent to the purchase, i.e., without a concurrent property sales transaction? Or must the usufruct be registered at the same time as a clear chanote title transfer?

Thanks,

It can be registered any time but presumes the land owner's consent.

[bbradsby]

Thanks! By signing the doc, the spouse is thereby consenting, no?

[thaiwanderer]

Thanks! By signing the doc, the spouse is thereby consenting, no?

consenting perhaps but not really a great proof or protection

will of course need to register it and better to have a detailed and case specific usufruct contract drawn up