30 Year Land Lease From Farang

[Khun Jean]

The people will not loose anything, they can stay in their place for the remainder of the 30 years.

Not important who the owner is. The bank probably loaned only a little because all 30 year contracts where registered at the land office. Right?

If not, then well who can you blame....

Anything more those 30 years requires a renewal and that you can only get with stupidity on the Thai owners side and incredible amounts of luck on the foreigners side or very large amounts of money for effectively a new 30 year lease.

[tuktukmike]

So effectively khun jean what you are saying it that in reality its 30 years rent paid up front.

I doubt many of us will be around in 30 years to see the result of this debacle but will surely be interesting times.

I for one would feel extremely angry to find out that after paying full price on a house the developer then took out what is in effect a second mortgage on my property.

Ttm

[Khun Jean]

You use the wrong word.

It is not 'my property' but 'his property' and as such he is free to do what he wants with it as long as it does not break the 30 year registered at the landoffice and written on the back of the landtitle lease contract.

For me personally it would not work.

I am 48 and if i counted correctly i moved about 14 (of which 4 times when i was still a child and i had no control over) times. Staying put in one place 30 years is for me unimaginable.

[Eesat]

Let's address the REAL question:

you don't lease for 30-years unless you are married, or going to marry, a thai.

my friend used all his money (you ALREADY know where this is going) to buy one house, and build another on a piece of land. 30-year lease. ah, whatever. After 7 years, she got a divorce without telling him (another story) and kicked him out. there is no practical way he can return, or rent it out. he talked with many lawyers, went to court, whatever. he lost it all. he is 65 and has no money coming in. 10 million baht gone. and soon to be homeless.

good times.

note: if American, you can buy a house in Detroit for 25k or a condo in Miami for 30k.

Why do you have to be American,I wasn't aware there were restrictions on purchasing property in The States,is it for foreclosures only?

[hotandhumid]

Sorry to bump this thread, but I am currently considering buying a house in Thailand with my funds (of course) which will be registered in my wifes name (we have 2 daughters) I was also looking at the 30 year lease option but after reading throught this thread I'm just thinking why not just go the whole hog and just let her have the house outright with none of this 30 year lease nonsense.

After all its security for her and the children, and I doubt I will be around in 30 years anyway. The fact is you shouldn't 'invest' here unless it's money you are prepared to wave goodbye to anyway, a bit like the stockmarket.

Any thoughts on this? Also, if we did just go ahead and have her as the land/house owner freehold is there anything we should be aware of that can't come back and bite us in the backside further down the line?

Cheers.

[docspinoff]

we are Farang couple who has just fully paid for a house

we got our Thai friend to do all paper work.

we know the house is in her name and she owns it

But how can we safe guard our money ?

i know we could take out a 30 year lease so we can stay in the house for 30 years and if she die we still have the right to stay there for the remainder of the lease

But can we get her to sell the house at any time and get our money back ? even though we have a 30 year lease (does a lease work both ways ?)

could we get her to sign an agreement to say she would give us our money back? like it was a loan and she would keep any profit on the house

also to get a legal 30 year lease what documents would we need ? and where do we go?

there is a lot of infomation on this site but sometimes in controdict if self

thanks

[Khun Jean]

we are Farang couple who has just fully paid for a house

we got our Thai friend to do all paper work.

we know the house is in her name and she owns it

But how can we safe guard our money ?

If you already paid for it, it will be depended on the owners decision. The friend can just say thank you and deny a lease. Reason would be that the friend has to pay taxes.

i know we could take out a 30 year lease so we can stay in the house for 30 years and if she die we still have the right to stay there for the remainder of the lease

But can we get her to sell the house at any time and get our money back ? even though we have a 30 year lease (does a lease work both ways ?)

She is the owner, you can't tell her anything. If you got a lease at least be happy with that.

could we get her to sign an agreement to say she would give us our money back? like it was a loan and she would keep any profit on the house

Again, why would she do that if she can keep it all. You are completely depended on her charity, because that is what it is.

also to get a legal 30 year lease what documents would we need ? and where do we go?

there is a lot of information on this site but sometimes in contradict if self

thanks

Just follow the law, it is not complicated at all, and it does not contradict itself.

Now what you should do:

Make a usufruct (for life, not 30 years!) at the land office on the moment of transfer to your friend. Use the standard form at the land office.

Hand over the money at the same time.

Getting your money back is impossible without agreement from your friend, it can not be a part of the usufruct as it will be denied (circumventing land ownership laws). o also a separate contract is unenforceable, same reason.

Make a loan contract: if it makes you feel more secure...... what if she not sells. Are you going to court and fight over it for a few years?

If i were you i would just rent for a few years (or buy a condo), make sure you completely understand the rules and laws before buying something. You are not ready for it.