Buying Vs Being A Lifelong Renter

[jamescollister]

Thai Nominees: Ministry puts foreign firms under watch

Ministry puts foreign firms under watch | Bangkok Post: news

Ministry puts foreign firms under watch

Thai nominees falsely acting as 'executives'

• Published: 3/12/2012 at 12:00 AM
  
• Newspaper section: News
  

The Commerce Ministry has instructed officials to examine foreign businesses following reports that many of them are being run by Thai nominees.

Banyong Limprayoonwong, the director-general of the ministry's Business Development Department, said he had received reports of companies violating the Foreign Business Act in tourist destinations, including Chon Buri, Pattaya, Samui and Phuket.

Many foreigners are thought to have asked Thai nationals to hold 51% of company shares, although in reality the whole administration is under the control of the foreigners. Mr Banyong said many Thai nationals whose names are given as the companies' shareholders had been found to be unconnected to the businesses.

Many people had been called in and had admitted giving their names as company executives even when they weren't, which breaches the Foreign Business Act. Some now face legal action.

"Foreigners and Thais should be aware of the law and must not violate it. The punishment is a fine of between 500,000 baht and 1 million baht," Mr Banyong said.

He said Deputy Commerce Minister Nattawut Saikuar has told officials to examine foreign businesses such as real estate holdings, hotels, rice mills and farming operations.

The checks will be conducted on a random basis, Mr Banyong said, adding the department also will work with the Department of Special Investigation to check the companies' accounts.

__________________

[jamescollister]

guzzi850m2

The lease you signed is a rental agreement, lease is just long term rental.

The deemed rental would have been on the document you signed at the land office. If you don't pay the rental or didn't pay it, lease is void. jim

[davejones]

Thai Nominees: Ministry puts foreign firms under watch

Ministry puts foreign firms under watch | Bangkok Post: news

Ministry puts foreign firms under watch

Thai nominees falsely acting as 'executives'

• Published: 3/12/2012 at 12:00 AM
  
• Newspaper section: News
  

The Commerce Ministry has instructed officials to examine foreign businesses following reports that many of them are being run by Thai nominees.

Banyong Limprayoonwong, the director-general of the ministry's Business Development Department, said he had received reports of companies violating the Foreign Business Act in tourist destinations, including Chon Buri, Pattaya, Samui and Phuket.

Many foreigners are thought to have asked Thai nationals to hold 51% of company shares, although in reality the whole administration is under the control of the foreigners. Mr Banyong said many Thai nationals whose names are given as the companies' shareholders had been found to be unconnected to the businesses.

Many people had been called in and had admitted giving their names as company executives even when they weren't, which breaches the Foreign Business Act. Some now face legal action.

"Foreigners and Thais should be aware of the law and must not violate it. The punishment is a fine of between 500,000 baht and 1 million baht," Mr Banyong said.

He said Deputy Commerce Minister Nattawut Saikuar has told officials to examine foreign businesses such as real estate holdings, hotels, rice mills and farming operations.

The checks will be conducted on a random basis, Mr Banyong said, adding the department also will work with the Department of Special Investigation to check the companies' accounts.

__________________

I think the OP is asking about renting vs. owning legally, not renting vs. owning illegally. If you own illegally in any country you are likely to end up in trouble. There is nothing to worry about if you own legally.

Edited February 11, 2013 by davejones

[TommoPhysicist]

Just read yesterday Eygpt ,any foreigner bought there previously are having homes taken from them. look at Goa ,thousands of foreigners bought there years ago,land office closed down all transactions now for them,result there all standing empty,unused ,virtually abandoned. same will happen here,just look at that appraisal report last june,,enough to make anyone owning shudder,I do and Im renting

Jeez, there are some really paranoid people on here. Egypt is almost having a civil war, no-one is in charge. Only a fool would compare that to Thailand.

And you think Thailand isn't on the edge of civil war?

[davejones]

Just read yesterday Eygpt ,any foreigner bought there previously are having homes taken from them. look at Goa ,thousands of foreigners bought there years ago,land office closed down all transactions now for them,result there all standing empty,unused ,virtually abandoned. same will happen here,just look at that appraisal report last june,,enough to make anyone owning shudder,I do and Im renting

Jeez, there are some really paranoid people on here. Egypt is almost having a civil war, no-one is in charge. Only a fool would compare that to Thailand.

And you think Thailand isn't on the edge of civil war?

No, not at all. Thailand isn't remotely like Egypt.

Edited February 11, 2013 by davejones

[BlackPuddingBertha]

Thais will never take legally bought condos from foreigners.

Maybe not. But of course they wouldn't have to. They could just stop issuing visas to the owner, or impose a special property tax on foreign ownership, both of which would more or less oblige him to sell it.

[BlackPuddingBertha]

Older established moo baan Bkk, 250sm house 10k per month rent.

Same house can be bought for 5.5 million.

That makes my 10K rent for a 3MB condo look expensive. And I was thinking I'd made a good deal.

[StefanBBK]

I've seen hints of this topic in other discussions, but I'd like to draw some clarity in the conversation. I'm interested in the thoughts on being a homeowner in Thailand vs the prospect of renting forever.

I'm talking about owner-occupied home or condo; not investment purchases for rental.

The concept of home ownership in Thailand seems to be entirely contrary to my experience in the States. Here are the 3 big issues I see, and why home ownership might not make sense. I would appreciate any additions to the pro's or cons on this list.

1) Buying an owner-occupied home in Thailand is not really a great investment. In developed countries, you might reasonably expect your home value to increase over the years. In Thailand, this is not a realistic expectation. Home value will very likely be flat or go down, so economically buying vs renting may not make sense.

2) Homes are not built to last (other than very high-end European builders using top quality materials.) You can expect major maintenance problems in a few years, and expect the whole darn house to fall down in a decade or so.

3) Zoning (lack of enforcement thereof) can make your life miserable. You can buy into a peaceful neighborhood, only to have an all-night karaoke bar or steel foundry to open next week in your neighborhood. You may or may not be able to do anything about it; probably you can't.

Being a renter fits my lifestyle, being easier to pick up & move on short notice. This is just me; many of you have no intention of moving. Still, being a renter makes it easier to move if (1) the house is falling down or (2) the neighborhood becomes undesirable.

With these considerations, what is the advantage of home ownership in Thailand for the average farang?

Let me start with saying we bought a house.

For me there are a number of advantages:

1) financial. The money we pay on the loan is equal to what we would spend on rent. When it is paid off, we do live for free. Every 5 years we have sone expense for painting etc., but all in all not much.

2) security. Nobody can evict us, end the lease etc.

3) We are free to modify anything we like, be it adding terrace space, adding AC's, landscaping etc.

4) eventually we will give the place to the children, who are Thai and can kerp it.

If you decode to settle for good, then buying is the best choice, I think.

Sent from my GT-I9100 using Thaivisa Connect Thailand mobile app

[davejones]

Thais will never take legally bought condos from foreigners.

Maybe not. But of course they wouldn't have to. They could just stop issuing visas to the owner, or impose a special property tax on foreign ownership, both of which would more or less oblige him to sell it.

Lots of countries have property tax. People pay it. It's no reason to sell. Next you'll be saying people will leave their jobs because they have to pay tax. Property tax in the UK is very high, especially for higher priced properties. But foreigners are still buying in droves. Property tax is just the price you have to pay for buying property. No reason to stop issuing visas either. Foreigners bring lots of money to Thailand, and they need and want that money. They have no reason to make themselves poorer by driving them away. Sometimes I think you're living in some kind of dystopian fantasy.

[davejones]

Older established moo baan Bkk, 250sm house 10k per month rent.

Same house can be bought for 5.5 million.

That makes my 10K rent for a 3MB condo look expensive. And I was thinking I'd made a good deal.

Yes, but what state is the house in. All the houses I've seen in central Bangkok for that price are in a very bad state. Even the ones I've seen for 25K aren't very good. Sounds like you really have a good deal.

[davejones]

I've seen hints of this topic in other discussions, but I'd like to draw some clarity in the conversation. I'm interested in the thoughts on being a homeowner in Thailand vs the prospect of renting forever.

I'm talking about owner-occupied home or condo; not investment purchases for rental.

The concept of home ownership in Thailand seems to be entirely contrary to my experience in the States. Here are the 3 big issues I see, and why home ownership might not make sense. I would appreciate any additions to the pro's or cons on this list.

1) Buying an owner-occupied home in Thailand is not really a great investment. In developed countries, you might reasonably expect your home value to increase over the years. In Thailand, this is not a realistic expectation. Home value will very likely be flat or go down, so economically buying vs renting may not make sense.

2) Homes are not built to last (other than very high-end European builders using top quality materials.) You can expect major maintenance problems in a few years, and expect the whole darn house to fall down in a decade or so.

3) Zoning (lack of enforcement thereof) can make your life miserable. You can buy into a peaceful neighborhood, only to have an all-night karaoke bar or steel foundry to open next week in your neighborhood. You may or may not be able to do anything about it; probably you can't.

Being a renter fits my lifestyle, being easier to pick up & move on short notice. This is just me; many of you have no intention of moving. Still, being a renter makes it easier to move if (1) the house is falling down or (2) the neighborhood becomes undesirable.

With these considerations, what is the advantage of home ownership in Thailand for the average farang?

Let me start with saying we bought a house.

For me there are a number of advantages:

1) financial. The money we pay on the loan is equal to what we would spend on rent. When it is paid off, we do live for free. Every 5 years we have sone expense for painting etc., but all in all not much.

2) security. Nobody can evict us, end the lease etc.

3) We are free to modify anything we like, be it adding terrace space, adding AC's, landscaping etc.

4) eventually we will give the place to the children, who are Thai and can kerp it.

If you decode to settle for good, then buying is the best choice, I think.

Sent from my GT-I9100 using Thaivisa Connect Thailand mobile app

Many on here are too tight, sticky, mean to leave a house to their wife and children. All they want is to be single, sitting in their rented condo, waiting for the day they are sure will come when they have to leave. You have to feel sorry for them really. Great that you have a house and are securing the future of your family.

[TommoPhysicist]

Let me start with saying we bought a house.

We bought a house or your Thai wife bought a house?

[davejones]

Let me start with saying we bought a house.

We bought a house or your Thai wife bought a house?

Irrelevant, as they are still saving money compared to renting. If I decided to buy a house I would buy in name of wife if I had one.

[TommoPhysicist]

Let me start with saying we bought a house.

We bought a house or your Thai wife bought a house?

Irrelevant, as they are still saving money compared to renting. If I decided to buy a house I would buy in name of wife if I had one.

You can only decide if you saved money at the end of the marriage, when you know if you will get anything back or she keeps the lot.

If she divorces you one year after the marriage and keeps the 5M house, I suspect you wouldn't have saved any money.

If she divorces you after one year, and splits the 5M house 50/50, I suspect you still wouldn't have saved any money.

[davejones]

Let me start with saying we bought a house.

We bought a house or your Thai wife bought a house?

Irrelevant, as they are still saving money compared to renting. If I decided to buy a house I would buy in name of wife if I had one.

You can only decide if you saved money at the end of the marriage, when you know if you will get anything back or she keeps the lot.

If she divorces you one year after the marriage and keeps the 5M house, I suspect you wouldn't have saved any money.

If she divorces you after one year, and splits the 5M house 50/50, I suspect you still wouldn't have saved any money.

True, but that's a different debate, and holds true in most countries. You worry too much!!! But if you really want to look at it like that, then rent. Buying isn't for everyone. But you could still get divorced, lose half the house and still come out ahead, depending on how much the house increased in value. I know it's fashionable for many renters on here to say that property prices don't go up in Thailand, but they go up substantially in some places. Whether to buy or rent depends on each individuals exact situation and how much of a pessimist they are. Renting is good for some, while buying is good for others.

There are always negative people that will advise you not to do something. Many said property prices in London would crash in the early 2000s, and that renting was best. In fact, prices in central London have doubled since they predicted the crash. That's just the way it is with negative people. They only see the negative side and just can't see the positives at all. And they usually lose out in the long run. I know so many people that were frightened to buy in the UK when prices were cheap, because they thought they were high. Now they are all complaining that prices are too high and how unfair it is. But the fact is that they had their chance but refused to take it. The same could happened to renters here. Maybe in 10-20 years time they won't be able to afford to rent or buy here. Then they will be complaining.

[jamescollister]

Thai Nominees: Ministry puts foreign firms under watch

Ministry puts foreign firms under watch | Bangkok Post: news

Ministry puts foreign firms under watch

Thai nominees falsely acting as 'executives'

• Published: 3/12/2012 at 12:00 AM
  
• Newspaper section: News
  

The Commerce Ministry has instructed officials to examine foreign businesses following reports that many of them are being run by Thai nominees.

Banyong Limprayoonwong, the director-general of the ministry's Business Development Department, said he had received reports of companies violating the Foreign Business Act in tourist destinations, including Chon Buri, Pattaya, Samui and Phuket.

Many foreigners are thought to have asked Thai nationals to hold 51% of company shares, although in reality the whole administration is under the control of the foreigners. Mr Banyong said many Thai nationals whose names are given as the companies' shareholders had been found to be unconnected to the businesses.

Many people had been called in and had admitted giving their names as company executives even when they weren't, which breaches the Foreign Business Act. Some now face legal action.

"Foreigners and Thais should be aware of the law and must not violate it. The punishment is a fine of between 500,000 baht and 1 million baht," Mr Banyong said.

He said Deputy Commerce Minister Nattawut Saikuar has told officials to examine foreign businesses such as real estate holdings, hotels, rice mills and farming operations.

The checks will be conducted on a random basis, Mr Banyong said, adding the department also will work with the Department of Special Investigation to check the companies' accounts.

__________________

I think the OP is asking about renting vs. owning legally, not renting vs. owning illegally. If you own illegally in any country you are likely to end up in trouble. There is nothing to worry about if you own legally.

What's the a legal way in Thailand, if legal you own a condo not a house. Jim

[davejones]

Thai Nominees: Ministry puts foreign firms under watch

Ministry puts foreign firms under watch | Bangkok Post: news

Ministry puts foreign firms under watch

Thai nominees falsely acting as 'executives'

• Published: 3/12/2012 at 12:00 AM
  
• Newspaper section: News
  

The Commerce Ministry has instructed officials to examine foreign businesses following reports that many of them are being run by Thai nominees.

Banyong Limprayoonwong, the director-general of the ministry's Business Development Department, said he had received reports of companies violating the Foreign Business Act in tourist destinations, including Chon Buri, Pattaya, Samui and Phuket.

Many foreigners are thought to have asked Thai nationals to hold 51% of company shares, although in reality the whole administration is under the control of the foreigners. Mr Banyong said many Thai nationals whose names are given as the companies' shareholders had been found to be unconnected to the businesses.

Many people had been called in and had admitted giving their names as company executives even when they weren't, which breaches the Foreign Business Act. Some now face legal action.

"Foreigners and Thais should be aware of the law and must not violate it. The punishment is a fine of between 500,000 baht and 1 million baht," Mr Banyong said.

He said Deputy Commerce Minister Nattawut Saikuar has told officials to examine foreign businesses such as real estate holdings, hotels, rice mills and farming operations.

The checks will be conducted on a random basis, Mr Banyong said, adding the department also will work with the Department of Special Investigation to check the companies' accounts.

__________________

I think the OP is asking about renting vs. owning legally, not renting vs. owning illegally. If you own illegally in any country you are likely to end up in trouble. There is nothing to worry about if you own legally.

What's the a legal way in Thailand, if legal you own a condo not a house. Jim

You could buy a house in wife's name. You can also own a house and one rai of land if you invest a certain amount of money in Thailand. I know if you buy in wife's name, it's not yours personally, but it's still the family's house, and can still save money over renting. If some aren't comfortable with that, then they can rent. But many are happy to buy in wife's name, so it saves them money in the long run. Buy house for wife or give landlord rent for 30-50 years so that he can own a house? Most would rather give the money to their wife than to a landlord. Or if you're really paranoid, get wife to get a mortgage and pay if for her instead of paying rent. You're still paying the same money out each month, and if she leaves you can just walk away, so nothing to lose. Many ways around the problem.

[TommoPhysicist]

You could buy a house in wife's name. You can also own a house and one rai of land if you invest a certain amount of money in Thailand. I know if you buy in wife's name, it's not yours personally, but it's still the family's house, and can still save money over renting. If some aren't comfortable with that, then they can rent. But many are happy to buy in wife's name, so it saves them money in the long run. Buy house for wife or give landlord rent for 30-50 years so that he can own a house? Most would rather give the money to their wife than to a landlord. Or if you're really paranoid, get wife to get a mortgage and pay if for her instead of paying rent. You're still paying the same money out each month, and if she leaves you can just walk away, so nothing to lose. Many ways around the problem.

You could buy a house in wife's name. Nominee ownership is prohibited by Thai law, it's also not actually buying you a house.

You can also own a house and one rai of land if you invest a certain amount of money in Thailand. That scheme finished a while back, all investors lost their 10MBht investments.

PS

Rent (approx 5% property value) is currently about half the cost of mortgage repayments (6.5% + capital repayment) in most areas.

Edited February 11, 2013 by TommoPhysicist

[rgs2001uk]

Thai Nominees: Ministry puts foreign firms under watch

Ministry puts foreign firms under watch | Bangkok Post: news

Ministry puts foreign firms under watch

Thai nominees falsely acting as 'executives'

• Published: 3/12/2012 at 12:00 AM
  
• Newspaper section: News
  

The Commerce Ministry has instructed officials to examine foreign businesses following reports that many of them are being run by Thai nominees.

Banyong Limprayoonwong, the director-general of the ministry's Business Development Department, said he had received reports of companies violating the Foreign Business Act in tourist destinations, including Chon Buri, Pattaya, Samui and Phuket.

Many foreigners are thought to have asked Thai nationals to hold 51% of company shares, although in reality the whole administration is under the control of the foreigners. Mr Banyong said many Thai nationals whose names are given as the companies' shareholders had been found to be unconnected to the businesses.

Many people had been called in and had admitted giving their names as company executives even when they weren't, which breaches the Foreign Business Act. Some now face legal action.

"Foreigners and Thais should be aware of the law and must not violate it. The punishment is a fine of between 500,000 baht and 1 million baht," Mr Banyong said.

He said Deputy Commerce Minister Nattawut Saikuar has told officials to examine foreign businesses such as real estate holdings, hotels, rice mills and farming operations.

The checks will be conducted on a random basis, Mr Banyong said, adding the department also will work with the Department of Special Investigation to check the companies' accounts.

__________________

I think the OP is asking about renting vs. owning legally, not renting vs. owning illegally. If you own illegally in any country you are likely to end up in trouble. There is nothing to worry about if you own legally.

What's the a legal way in Thailand, if legal you own a condo not a house. Jim

You could buy a house in wife's name. You can also own a house and one rai of land if you invest a certain amount of money in Thailand. I know if you buy in wife's name, it's not yours personally, but it's still the family's house, and can still save money over renting. If some aren't comfortable with that, then they can rent. But many are happy to buy in wife's name, so it saves them money in the long run. Buy house for wife or give landlord rent for 30-50 years so that he can own a house? Most would rather give the money to their wife than to a landlord. Or if you're really paranoid, get wife to get a mortgage and pay if for her instead of paying rent. You're still paying the same money out each month, and if she leaves you can just walk away, so nothing to lose. Many ways around the problem.

You can also own a house and one rai of land if you invest a certain amount of money in Thailand.

While the above may be technically true, there are some restrictions, first I believe the amount invested had to be 40 million baht under the Amity Treaty, secondly, before any land could be purchased it had to be approved by the interior minister.

This subject rears its ugly head every so often, I will ask again, how many people do you or anyone on here know who have been able to purchase one rai of alnd in their own name?

The last time the question was asked, no one could answer, I suspect it will be the same this time.

[trajan]

if you plan on staying in Bangkok long term..or off and on over a long period...my advice is buy (from a condo perspective)...I wish I would have bought the moment I decided to stay (and make it one of my permanent bases)...I waited 5 years and wasted all that rent on serviced apt...(have since bought and sold again and again.)...however, I havent bought a house yet.

btw, despite what people say on this forum, Thais have bought second hand (and new) from me...the foreigners are the ones who just wasted time (and never closed)

Edited February 11, 2013 by trajan

[jamescollister]

If you read my posts, that's what I said. Trust your wife or don't buy. We have a house, it's hers, we have land, it's hers. We make our living here, but all the money made is technically in her name.

I'm happy to leave it that way and trying to circumvent the law is just putting my chance to stay in Thailand at risk, stay legal stay safe. I will live out the rest of my life here, 2 young kids to raise, too much to risk playing silly avoiding laws stuff. Jim

[davejones]

If you read my posts, that's what I said. Trust your wife or don't buy. We have a house, it's hers, we have land, it's hers. We make our living here, but all the money made is technically in her name.

I'm happy to leave it that way and trying to circumvent the law is just putting my chance to stay in Thailand at risk, stay legal stay safe. I will live out the rest of my life here, 2 young kids to raise, too much to risk playing silly avoiding laws stuff. Jim

I think you've made a good choice, so good luck.

[davejones]

You could buy a house in wife's name. You can also own a house and one rai of land if you invest a certain amount of money in Thailand. I know if you buy in wife's name, it's not yours personally, but it's still the family's house, and can still save money over renting. If some aren't comfortable with that, then they can rent. But many are happy to buy in wife's name, so it saves them money in the long run. Buy house for wife or give landlord rent for 30-50 years so that he can own a house? Most would rather give the money to their wife than to a landlord. Or if you're really paranoid, get wife to get a mortgage and pay if for her instead of paying rent. You're still paying the same money out each month, and if she leaves you can just walk away, so nothing to lose. Many ways around the problem.

You could buy a house in wife's name. Nominee ownership is prohibited by Thai law, it's also not actually buying you a house.

You can also own a house and one rai of land if you invest a certain amount of money in Thailand. That scheme finished a while back, all investors lost their 10MBht investments.

PS

Rent (approx 5% property value) is currently about half the cost of mortgage repayments (6.5% + capital repayment) in most areas.

What you missed out of this is that rents tend to rise in value over time. So for example, if you pay 250,000 annual rent on a 5 million baht property today, you may be paying 500,000 per annum in 10 years time. Renting is almost always cheaper in the very early years, but rarely better in the later years. You also don't take account of property appreciation.

Anyway, last on this thread, as it's all getting a bit pointless. Some prefer to rent, so they should rent. Nothing else to say.

[jamescollister]

rgs2001uk

Think I could claim a win on that [who's bought a rai in their name.] Not that it had any real standing. When I first came up here, I was the first farang seen, we bought some low title farm land. Sale witness and registered by the village head.

I didn't know and he didn't know foreigners got not own land, he put my name on the title.

In some dusty draw somewhere is a bit off paper with my name on it. It will never see the light of day. Jim

[TommoPhysicist]

rgs2001uk

Think I could claim a win on that [who's bought a rai in their name.] Not that it had any real standing. When I first came up here, I was the first farang seen, we bought some low title farm land. Sale witness and registered by the village head.

I didn't know and he didn't know foreigners got not own land, he put my name on the title.

In some dusty draw somewhere is a bit off paper with my name on it. It will never see the light of day. Jim

Trouble is Jim, the people who have these fantasies, think they are having a sensible debate.

Reality will never influence their decisions.

I'm currently thinking of indulging my wife's fantasy of owning a house in Chiang Mai, well 10% of her fantasy anyway.

Edited February 11, 2013 by TommoPhysicist

[utalkin2me]

I personally think it is a question of how long you will be somewhere. If you are going to be somewhere a long time, I think it is an easy "debate". Many of these other "arguments" don't hold water, at least with me.

If you feel like you need to move all the time because you are unstable and have no idea what you want, and no idea if your significant other truly loves you or not, by all means -- rent, lol! It just doesn't sound all that fun.

Personally, if I was still in a "renting situation" i'd prefer to be travelling and wasting my money on something actually worth it. Already been there and done that though, not that it aint great, just that things change. With a condo, you can still take off without worry, and have a rent free zone ALWAYS lined up to return to. Nothing like it.

Edited February 11, 2013 by utalkin2me

[StefanBBK]

Let me start with saying we bought a house.

We bought a house or your Thai wife bought a house?

Lets say, I bought it for my kids.... Sounds better....

Sent from my GT-I9100 using Thaivisa Connect Thailand mobile app

[Spoonman]

Let me start with saying we bought a house.

We bought a house or your Thai wife bought a house?

Lets say, I bought it for my kids.... Sounds better....

Sent from my GT-I9100 using Thaivisa Connect Thailand mobile app

So your kids own the house then.................

[jamescollister]

Let me start with saying we bought a house.

We bought a house or your Thai wife bought a house?

Lets say, I bought it for my kids.... Sounds better....

Sent from my GT-I9100 using Thaivisa Connect Thailand mobile app

So your kids own the house then.................

Would think his kids own the land that the house is on. When they reach 20 years old they can tell him to move it. Not nice kids if that is the case.

As I said you want a house and land that is safe put it in my kids [ or Tommy Ps kids name] Can't be touched without a court order. Jim

[Gary A]

People who think they circumvent the system by putting property in their kids name should really check what will happen in the case of a divorce. I don't claim to know the law but the kids will have a guardian and it's not likely to be the man. I think the guardian can decide the fate of property owned by minors. Right or wrong? I don't know.