Leaving To Relative

[overherebc]

If I buy a small condo can I leave it to my neice and nephew when I pop my clogs ? They are UK citizens and would probably use it as a holiday home.

[Delight]

The beneficiaries with respect to your condo must have some type of acceptable residential status before they can inherit.

Acceptable to the land office.

(This assumes that the condo is in foreigner name.)

If they do not then they have 12 months to sell the condo.

The land office will dispose of the condo if the condo is unsold beyond the 12 months.

Edited January 31, 2013 by Delight

[uptheos]

The beneficiaries with respect to your condo must have some type of acceptable residential status before they can inherit.

Acceptable to the land office.

(This assumes that the condo is in foreigner name.)

If they do not then they have 12 months to sell the condo.

The land office will dispose of the condo if the condo is unsold beyond the 12 months.

You mean they will sell it to a relative for a fraction of its worth.

[ballbreaker]

OP read info on the link below and your questions should be answered.

http://www.samuiforsale.com/real-estate/condo-inheritance.html

[overherebc]

OP read info on the link below and your questions should be answered.

http://www.samuifors...nheritance.html

So they would have to transfer cash equal to the appraised value to Thailand, change it into Baht and then do what with that money ?

[Delight]

OP read info on the link below and your questions should be answered.

http://www.samuifors...nheritance.html

So they would have to transfer cash equal to the appraised value to Thailand, change it into Baht and then do what with that money ?

Good Question

The money(less costs) goes into the estate of the deceased. I can see no mechanism for the funds to be re -patriated. Maybe somebody else can.

[overherebc]

OP read info on the link below and your questions should be answered.

http://www.samuifors...nheritance.html

So they would have to transfer cash equal to the appraised value to Thailand, change it into Baht and then do what with that money ?

Good Question

The money(less costs) goes into the estate of the deceased. I can see no mechanism for the funds to be re -patriated. Maybe somebody else can.

I've already decided I'm not going to think about it, ref all the answers above, but would still like to know the answer to my last question as it may be good for others know.

[kiwiinasia]

Sell it and have a party before you go, much more fun, invite the niece and nephew to join in.

However timing might be an issue.

[overherebc]

The beneficiaries with respect to your condo must have some type of acceptable residential status before they can inherit.

Acceptable to the land office.

(This assumes that the condo is in foreigner name.)

If they do not then they have 12 months to sell the condo.

The land office will dispose of the condo if the condo is unsold beyond the 12 months.

Basically it means there is no real difference between buying a house in someone elses name or buying a condo that will end up in someone elses name.

[BrianCR]

The beneficiaries with respect to your condo must have some type of acceptable residential status before they can inherit.

Acceptable to the land office.

(This assumes that the condo is in foreigner name.)

If they do not then they have 12 months to sell the condo.

The land office will dispose of the condo if the condo is unsold beyond the 12 months.

Basically it means there is no real difference between buying a house in someone elses name or buying a condo that will end up in someone elses name.

If everything goes in someone elses name can I change my name to MR. Someone Else?