Setting Up A Property Trust For Faluung Thai Baby With Thai Residence

[kiwikeith]

I have a TW and a young son who has dual citizenship thai/nz, I will be living in thailand permanently in a few months, I want to buy a house and know most all the usual rules for ownwership, 49%, company ect lease isnt a bad option if your single.

Im wondering if you have a child with thai residence, can you set up a trust and buy a property and have it in trust until the child reaches a certain age 20/21 tyrs old.

Im told by my TW's friends that Thais cant own land until they are 20 ???

Does anyone know if it is possible to set up a property trust for a thai child, trustees might be tricky- do they need to be resident holders or could my older children who legally are brothers ect be trustees or overseer's of the trust?.

Must be a few faluungs that have explored this possibility so like to hear your views

Thanks a lot

Kiwikeith.

[GavinK]

Might do better in the Real Estate, housing, house and land ownership forum.

..

[sbk]

moving there

[LennyW]

You may find some answers here.... http://www.thaivisa....ip-to-the-wife/ and here..... http://www.thaivisa....9-house-buying/

Do a search of this forum too, a lot of good information to be found.

Edited April 18, 2012 by LennyW

[harrry]

trusts are not legal in thailand

[chiangmaibruce]

What your wife's friends told her is incorrect (although some Land dept staff are reported to be a bit hazy about the law in this regard). Land can be bought in the name of a minor child. But be sure to research this thoroughly before committing as there are strengths and limitations with this approach ... for example if you decide you don't like living here then you'll need to get court approval to sell the property.

As others have suggested, many good prior discussion threads in TV on this and related topics ... see top right this page and start with search words like "buying property minor child" etc. (Be sure to change from "this topic" to "forums" using dropdown menu)

Edited April 18, 2012 by chiangmaibruce

[Naam]

As others have suggested, many good prior discussion threads in TV on this and related topics ... see top right this page and start with search words like "buying property minor child" etc. (Be sure to change from "this topic" to "forums" using dropdown menu)

...and avoid using the keyword "faluung" in the search.

[Kananga]

faluung = farang?

faluung thai baby = luk kreung?

TW = Thai wife?

[kiwikeith]

If trusts are not legal then would it be possible to put the title in the minors name and then lease it back.

[chiangmaibruce]

If trusts are not legal then would it be possible to put the title in the minors name and then lease it back.

No (or at least, not easily) because minors can't enter into contracts like leases or usufructs. See other current discussion thread about usufructs.

To the best of my knowledge what you have suggested would require an application to the court seeking approval for the imposition of a lease or usufruct on the land title (presumably on the basis of an argument that the action was in the best interest of the child). Thailand being Thailand, you might find a Land dept officer who would rubber stamp this without court sanction, but then you would always run the risk of it being later overturned on appeal

Edited April 19, 2012 by chiangmaibruce

[samran]

faluung = farang?

faluung thai baby = luk kreung?

TW = Thai wife?

NZ = sheep shagger

[kiwikeith]

faluung = farang?

According to how you pronounce thai faluung is correct, far rang is badly pronounced by some english people fa rrrung is correct but thais drop the rrr and thai baby half is luk kreung, Sheep shaggers come from south africa as they are easier to catch than spring boks.

faluung thai baby = luk kreung?

TW = Thai wife?

[kiwikeith]

faluung = farang?

faluung thai baby = luk kreung?

TW = Thai wife?

NZ = sheep shagger, south african is sheep shagger they now flock to nz as springboks are to hard to catch