Tor Tor 3 Needed For Joint Ownership Of A Condo (Thai & Farang)

[BuffaloRescue]

Hi

If i put a condo in my name and my partners (not wifes) name, as joint owners - do i still need the tor tor 3 and if so, does the transfer have to cover 100% or 50% of the price

Anything to look out for?

Thanks

[Delight]

My understanding is that there is no provision for joint ownership -Farang and Kon Thai. In the condo where I live at least one Farang thinks that 50/50 ownership exists for his condo. In practice it is the 51% Thai allocation.

So the first question : Is this new purchase to be in the 49% or the 51% ?

If its in the 49% then you will need a FET (formerly tor tor 3) for the 100%

Edited March 27, 2013 by Delight

[BuffaloRescue]

Hi

Im not talking about allocation of units in the building. The building has hardly any farang owners. Im talking about buying a unit shared ownership with my GF. Example when you buy a house in farangland you can own it 50/50 with your wife/partner etc

Thanks

Edited March 27, 2013 by BuffaloRescue

[yoslim]

will your partner pay for half the price ?

[BuffaloRescue]

will your partner pay for half the price ?

Well we have a joint account....!

[Delight]

Hi

Im not talking about allocation of units in the building. The building has hardly any farang owners. Im talking about buying a unit shared ownership with my GF. Example when you buy a house in farangland you can own it 50/50 with your wife/partner etc

Thanks

In Farang land there is no legal quota in relation to condo ownership -nationals versus foreigners .

In Thailand there is.

That is your starting point-which side are you in. If in the 49% Foreign allocation -then you have to show 100% of the money on the FET.

.If the condo is in the 49% then it is yours . If it is registered in the 51% then it legally belongs to her.

Of course if in the 51% then she could have a shared ownership with another Thai-as you could with another Farang - if it ends up in the 49%.

The whole process is controlled by the Condo.Act. Joint ownership Thai national and foreigner does not feature (as far as I can tell)

[BuffaloRescue]

Hi

Im not talking about allocation of units in the building. The building has hardly any farang owners. Im talking about buying a unit shared ownership with my GF. Example when you buy a house in farangland you can own it 50/50 with your wife/partner etc

Thanks

In Farang land there is no legal quota in relation to condo ownership -nationals versus foreigners .

In Thailand there is.

That is your starting point-which side are you in. If in the 49% Foreign allocation -then you have to show 100% of the money on the FET.

.If the condo is in the 49% then it is yours . If it is registered in the 51% then it legally belongs to her.

Of course if in the 51% then she could have a shared ownership with another Thai-as you could with another Farang - if it ends up in the 49%.

The whole process is controlled by the Condo.Act. Joint ownership Thai national and foreigner does not feature (as far as I can tell)

Hi

This isnt in pattaya. Its in Chiang Mai in an area without many farangs so they dont have farang allocation. They dont even seem to be aware of what farang allocation is. Im talking about getting a share.. equal or otherwise of the actual unit. Im assuming when you co-own a property (not a block of units) that means 50/50 ownership?

[Delight]

Hi

Im not talking about allocation of units in the building. The building has hardly any farang owners. Im talking about buying a unit shared ownership with my GF. Example when you buy a house in farangland you can own it 50/50 with your wife/partner etc

Thanks

In Farang land there is no legal quota in relation to condo ownership -nationals versus foreigners .

In Thailand there is.

That is your starting point-which side are you in. If in the 49% Foreign allocation -then you have to show 100% of the money on the FET.

.If the condo is in the 49% then it is yours . If it is registered in the 51% then it legally belongs to her.

Of course if in the 51% then she could have a shared ownership with another Thai-as you could with another Farang - if it ends up in the 49%.

The whole process is controlled by the Condo.Act. Joint ownership Thai national and foreigner does not feature (as far as I can tell)

Hi

This isnt in pattaya. Its in Chiang Mai in an area without many farangs so they dont have farang allocation. They dont even seem to be aware of what farang allocation is. Im talking about getting a share.. equal or otherwise of the actual unit. Im assuming when you co-own a property (not a block of units) that means 50/50 ownership?

You do not specify who'they ' are.

I can only suggest that you ignore'they' and obtain the definitive position from your local land office.

Be guided by them.

Generally I think that you are assuming wrong.