Best Way To Send Money To The Usa That Was Derived From The Sale Of Some Inherited Condos

[ericg1953]

One of my friends passed recently and had a legal thai will in place that was set up properly by competent thai attorneys. His son,who inherited 50% of the properties his father had, is in the USA. There was a recent sale of 2 of the condos his dad had and there are proceeds sitting in a thai bank. The son has been named the legal executor of the estate here in Thailand. What is the best way to get the money to the USA. The amount is about 8 million baht. I have heard that its not easy and only 50k at a time can be wired. Just looking for a good,safe ,quick way to accomplish this.

[gamini]

Unless he can prove that the money was bought in to purchase the condos, it could be quite problematic.

[ericg1953]

Unless he can prove that the money was bought in to purchase the condos, it could be quite problematic.

There were 2 condos sold..one had a tor tor 3 as it was bought in a foreign name and the other was in a company name. So if the tor tor 3 is available it much be able to be used by the executor.

[tsigane]

Unless he can prove that the money was bought in to purchase the condos, it could be quite problematic.

One has to prove that the money was brought in when transferring chanot into his name. Does it mean the same thing has to proved again after selling the condo? Do you have a first-hand experience with this?

cheers

[gk10002000]

Just write a check and wait for it to clear? I believe the US side bank will want a statement and there is some sort of form in order to deposit the foreign funds. Make sure the US bank accepts foreign checks. Etrade bank for example does NOT.

[gamini]

I tried to transfer money to Ausatralia from the sale of a poperty. The bank insisted on proof that the money had been brought into Thailand in the first place. Luckily the buyer had an oversewas account and paid the money into it.

[Langsuan Man]

The land office will have the original of the Currency Exchange form for the property bought in a foreign name, so that transfer out should be easy. The one in the company name will be more problematic. Will probably have to be done in small increments as other posters have stated. I would contact the lawyer who handled the drafting of the will and he should be able to advise your friends son on the best way to proceed. Most likely by giving the lawyer a limited power of attorney