Leases And How They Work

[Lost in LOS]

I am considering buying a house in Jomtiem in my name only. I have an o-a visa. I considered a corporation but after reading these posts maybe that is not such a great idea, since it will work but is illegal, and my property could be forfeited at some later date at the whim of the authorities.

I am not sure how the 30 year lease is handled on a house that is already built. As an example, if I buy a house for 5,000,000 bhat with the land and house already finished. I can own the house and improvements [walls, pool, landscaping] but lease the land for 30 years? how is the money paid and structured? Do I pay everything up-front and have use of the property for 30 years. How much of that deal are the improvements. i.e. 3,000,000 baht for the improvements and 2,000,000 baht for the lease? At the end of 30 years is anything mine and if it is what can I do with it? Sorry is I sound confused but I am

thanks

[Dragonman]

I am considering buying a house in Jomtiem in my name only. I have an o-a visa. I considered a corporation but after reading these posts maybe that is not such a great idea, since it will work but is illegal, and my property could be forfeited at some later date at the whim of the authorities.

I am not sure how the 30 year lease is handled on a house that is already built. As an example, if I buy a house for 5,000,000 bhat with the land and house already finished. I can own the house and improvements [walls, pool, landscaping] but lease the land for 30 years? how is the money paid and structured? Do I pay everything up-front and have use of the property for 30 years. How much of that deal are the improvements. i.e. 3,000,000 baht for the improvements and 2,000,000 baht for the lease? At the end of 30 years is anything mine and if it is what can I do with it? Sorry is I sound confused but I am

thanks

You can get the developer to sell the house and improvements to you, but would have to find a thai citizen to purchase the land, and then obtain a back to back lease on the land. At the end of 30 years it is likely you would get nothing unless you can negotiate a deal with the owner, or unless ownership laws change. Read through the extensive thread, OP sleepyjohn, regarding leasehold purchase.

[Lost in LOS]

You can get the developer to sell the house and improvements to you, but would have to find a thai citizen to purchase the land, and then obtain a back to back lease on the land. At the end of 30 years it is likely you would get nothing unless you can negotiate a deal with the owner, or unless ownership laws change. Read through the extensive thread, OP sleepyjohn, regarding leasehold purchase.

I read that but didnt see my situation. the place i would like to buy is in an old existing village in jomtiem near the beach and i wont be building on vacant land. the present owner is singaporean and i am not sure how he owns it

[Dragonman]

You can get the developer to sell the house and improvements to you, but would have to find a thai citizen to purchase the land, and then obtain a back to back lease on the land. At the end of 30 years it is likely you would get nothing unless you can negotiate a deal with the owner, or unless ownership laws change. Read through the extensive thread, OP sleepyjohn, regarding leasehold purchase.

I read that but didnt see my situation. the place i would like to buy is in an old existing village in jomtiem near the beach and i wont be building on vacant land. the present owner is singaporean and i am not sure how he owns it

The procedure is the same. Your lawyer will arrange for him to sell land to your Thai nominee, and the house to you, as long as he has chonote for land, and house is not separately registered. It is quite straightforward. The most difficult bit is you finding a thai nominee who you will buy the land for, and trust!