Rob5060 Posted March 8, 2006 Share Posted March 8, 2006 My then girlfriend and I bought a house together using the Company route but have since married. I now wonder whether to change the house into her name and avoid accounting costs etc The main question is if we end up divorcing, I would assume finacially it would have the same outcome. That is to say if we still had the company 50/50 and if the house was seen to be bought in her name but as a married couple value added after marriage and split 50/50. Any opinions Guys? Link to comment Share on other sites More sharing options...
English Noodles Posted March 8, 2006 Share Posted March 8, 2006 Personaly i would keep it in the company name mate. What does it cost per year around B10,000 for the audit? Could save you in the long run, better safe than sorry. Link to comment Share on other sites More sharing options...
Noel Posted March 8, 2006 Share Posted March 8, 2006 Personaly i would keep it in the company name mate. What does it cost per year around B10,000 for the audit? Could save you in the long run, better safe than sorry. Seconded, 100% Link to comment Share on other sites More sharing options...
ThaiPauly Posted March 8, 2006 Share Posted March 8, 2006 They are right !! Link to comment Share on other sites More sharing options...
OZONE Posted March 8, 2006 Share Posted March 8, 2006 Agreed Link to comment Share on other sites More sharing options...
steveromagnino Posted March 8, 2006 Share Posted March 8, 2006 My then girlfriend and I bought a house together using the Company route but have since married. I now wonder whether to change the house into her name and avoid accounting costs etcThe main question is if we end up divorcing, I would assume finacially it would have the same outcome. That is to say if we still had the company 50/50 and if the house was seen to be bought in her name but as a married couple value added after marriage and split 50/50. Any opinions Guys? not necessarily the same outcome; if she was only a part shareholder in the company less than 50% or owned a different class of share, she would not necessarily be entitled to 50% of the value of the company if there was a firesale. Furthermore, if you were a married couple, and you divorced, then you would not be entitled to 50% of the house, as it is her asset, not a marital asset. Therefore financially, it is NOT the same. Link to comment Share on other sites More sharing options...
astral Posted March 8, 2006 Share Posted March 8, 2006 If you transfer the house it will be seen as a "sale" for the company and there will be a liability for tax on the increase in the property price. Not sure how this will be calculated, but your lawyer should be able to advise. Link to comment Share on other sites More sharing options...
Rob5060 Posted March 8, 2006 Author Share Posted March 8, 2006 If you transfer the house it will be seen as a "sale" for the company and there will be a liability for tax on the increase in the property price. Not sure how this will be calculated, but your lawyer should be able to advise. Personaly i would keep it in the company name mate. What does it cost per year around B10,000 for the audit? Could save you in the long run, better safe than sorry. Link to comment Share on other sites More sharing options...
Kf6vci Posted March 8, 2006 Share Posted March 8, 2006 How about transferring it as you intended but get a mortgage which exceeds FMV of the house recorded? (I put a paid off home in CA into "joint tenants", got kicked out soon later and now can spend way more than THB 400,000 to salvage somethign from this mistake. Never ever mix love and money!!) Link to comment Share on other sites More sharing options...
English Noodles Posted March 8, 2006 Share Posted March 8, 2006 How about transferring it as you intended but get a mortgage which exceeds FMV of the house recorded? (I put a paid off home in CA into "joint tenants", got kicked out soon later and now can spend way more than THB 400,000 to salvage somethign from this mistake. Never ever mix love and money!!) Why not just leave it how it is, Pay B10,500 per year for company audit and have no worries at all. Pretty simple. Link to comment Share on other sites More sharing options...
GuestHouse Posted March 8, 2006 Share Posted March 8, 2006 I'd also look into what happens to the company assets when you close the company, who gets what out of the pie. You might find that the other share holders have a claim on your house if you close the company. .... IF IT AINT BROKE ..... DON'T MEND IT.... Link to comment Share on other sites More sharing options...
Neeranam Posted March 8, 2006 Share Posted March 8, 2006 Always rent if you think you are going to get divorced. Always rent if you think you are going to get divorced. Link to comment Share on other sites More sharing options...
Dragonman Posted March 9, 2006 Share Posted March 9, 2006 My then girlfriend and I bought a house together using the Company route but have since married. I now wonder whether to change the house into her name and avoid accounting costs etc The main question is if we end up divorcing, I would assume finacially it would have the same outcome. That is to say if we still had the company 50/50 and if the house was seen to be bought in her name but as a married couple value added after marriage and split 50/50. Any opinions Guys? not necessarily the same outcome; if she was only a part shareholder in the company less than 50% or owned a different class of share, she would not necessarily be entitled to 50% of the value of the company if there was a firesale. Furthermore, if you were a married couple, and you divorced, then you would not be entitled to 50% of the house, as it is her asset, not a marital asset. Therefore financially, it is NOT the same. Spot on steve. The Constitutional Court wanted equality, but not that much. Link to comment Share on other sites More sharing options...
hunglikea Posted March 21, 2006 Share Posted March 21, 2006 My then girlfriend and I bought a house together using the Company route but have since married. I now wonder whether to change the house into her name and avoid accounting costs etc The main question is if we end up divorcing, I would assume finacially it would have the same outcome. That is to say if we still had the company 50/50 and if the house was seen to be bought in her name but as a married couple value added after marriage and split 50/50. Any opinions Guys? not necessarily the same outcome; if she was only a part shareholder in the company less than 50% or owned a different class of share, she would not necessarily be entitled to 50% of the value of the company if there was a firesale. Furthermore, if you were a married couple, and you divorced, then you would not be entitled to 50% of the house, as it is her asset, not a marital asset. Therefore financially, it is NOT the same. If (and this is a 'monthly' argument, 5 years on) I and my Thai wife divorce, how easy is it to keep one's "O" visa? I always go back to UK for annual renewal using my marriage cert as reason. Never given proof of earnings/pension/bank. She has said (and keeps saying) we can split everthing 'ha sip, ha sip'. That's 2 houses & one car (about 8m) what would I need to have this legally agreed...just in case? But - yes I think you'll say it won't happen. Ups and downs, Thai life - Thai wife Link to comment Share on other sites More sharing options...
Dragonman Posted March 22, 2006 Share Posted March 22, 2006 My then girlfriend and I bought a house together using the Company route but have since married. I now wonder whether to change the house into her name and avoid accounting costs etc The main question is if we end up divorcing, I would assume finacially it would have the same outcome. That is to say if we still had the company 50/50 and if the house was seen to be bought in her name but as a married couple value added after marriage and split 50/50. Any opinions Guys? not necessarily the same outcome; if she was only a part shareholder in the company less than 50% or owned a different class of share, she would not necessarily be entitled to 50% of the value of the company if there was a firesale. Furthermore, if you were a married couple, and you divorced, then you would not be entitled to 50% of the house, as it is her asset, not a marital asset. Therefore financially, it is NOT the same. If (and this is a 'monthly' argument, 5 years on) I and my Thai wife divorce, how easy is it to keep one's "O" visa? I always go back to UK for annual renewal using my marriage cert as reason. Never given proof of earnings/pension/bank. She has said (and keeps saying) we can split everthing 'ha sip, ha sip'. That's 2 houses & one car (about 8m) what would I need to have this legally agreed...just in case? But - yes I think you'll say it won't happen. Ups and downs, Thai life - Thai wife What I understand fairly easy to get "O" visa in UK on basis of retirement or even with a financial guarantor. You could always get a post nup agreement, which is strictly a contract between you and the missus. May however draw her attention to being "too generous" Link to comment Share on other sites More sharing options...
hunglikea Posted March 22, 2006 Share Posted March 22, 2006 If (and this is a 'monthly' argument, 5 years on) I and my Thai wife divorce, how easy is it to keep one's "O" visa? I always go back to UK for annual renewal using my marriage cert as reason. Never given proof of earnings/pension/bank. She has said (and keeps saying) we can split everthing 'ha sip, ha sip'. That's 2 houses & one car (about 8m) what would I need to have this legally agreed...just in case? But - yes I think you'll say it won't happen. Ups and downs, Thai life - Thai wife What I understand fairly easy to get "O" visa in UK on basis of retirement or even with a financial guarantor. You could always get a post nup agreement, which is strictly a contract between you and the missus. May however draw her attention to being "too generous" I think to get retirement visa you need to have 800k in the bank, which I haven't got at the moment? I want to get a post nup but can't find an English speaking lawyer in Nakhon Sawan. Also not sure whether to trust a Thai lawyer to act in my interest when drawing it up. I have always said to her that 50% is 'very generous'. But if sh1t does hit I have always expected to come away with nowt so it would be back to square one but next time keeping away from the regitrar. Link to comment Share on other sites More sharing options...
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