Buying A Property In My Kids Name.

[somnamna]

Hi!

New here...

I am married to a thai lady and we've got two kids together. I am about to buy some property in Thailand and I'm looking for some further info before I meet my lawyer.

A friend of mine owns a house in Thailand and is telling me that he did put his daughters name on the contract of the property. The lawyer wrote a separate contract stating that he (my friend) administrates his daughters money until she turns 18.

According to him can anyone that is thai own land and property regardless of age.

Another source told me that this can not be done!!

I trust my friend but would like to hear if anyone has further information in this matter and that would be highly appreciated!

Thanks!

[marshbags]

Hi!

New here...

I am married to a thai lady and we've got two kids together. I am about to buy some property in Thailand and I'm looking for some further info before I meet my lawyer.

A friend of mine owns a house in Thailand and is telling me that he did put his daughters name on the contract of the property. The lawyer wrote a separate contract stating that he (my friend) administrates his daughters money until she turns 18.

According to him can anyone that is thai own land and property regardless of age.

Another source told me that this can not be done!!

I trust my friend but would like to hear if anyone has further information in this matter and that would be highly appreciated!

Thanks!

[/quote

Are you farang or Thai if you don,t mind me asking and no offence intended against your friends judgement.

If you are farang, i had the following experience.

I,m going back 6 years when i was going through the motions of buying a property for my daughter.

I made similar enquiries about her being able to do this legally.

I was told there was no problem by the legal team representing the seller, along with another legal eagle they recommended.

I still had my doubts so i made enquiries among the local people i knew and was given one particular name by a couple of them.

He came to my home and spent time explaining why i shouldn,t do this until she was old enough to have an I.D. card and not to buy until then.

He said the chances of her keeping the property should anything happen to her trusted guardians

not Thai related. ( myself in this case ) where not very favourable.

She would in one way or another be minipulated and cheated out of her heritage due to her age.

He specifically said do not trust the Thai legal system as most will be guided by relatives wishes and

get a percentage of the value as a fee and again the chances of my daughter getting anything where slim to zero.

He was very concerned and really sympathetic about the probable outcome should i die and what was possible.

He would not take any payment for his advice and offered any further needs on this subject free of charge.

As he had no monetary gain or advantage from telling me this i took what he told me seriously.

It could be that there are legal moves you can take but i was strongly advised not to bother until she was in a position to counter sign any documents as a registered I.D. card holder and old enough to understand the legalities and implications.

I decided to pull out and keep the money in the U.K. and as the last few years have gone by i am more than satisfied to this day with on what i did and grateful to the lawyers kind advice.

Again you will probably get more learned advice from other T.Visa members but if you cannot control your wishes personally i would think again on some other way of taking care of her future.

marshbags

Edited April 1, 2006 by marshbags

[Nawtilus]

You can do it, but if you are acting as the guardian, then any decision you may wish to make re the property before she reaches legal age, you will have to take it to court for a decision. This costs money and time to get to court. Not the best scenario.

[GuestHouse]

My advice would be buy the property under your wife's name and lease it off her. Get your wife to make a will in favour of your child with the specific clause that she wishes you to be the manager of the property and have residence in the property until your child are 18 years of age.

If you want to have a real secure future for your child in the event your death (and you have the financial means to provide after your death), then do this by will and testiment from Farangland. Take a look at the "General Branch" there is advice there on wills.

[Dragonman]

My advice would be buy the property under your wife's name and lease it off her. Get your wife to make a will in favour of your child with the specific clause that she wishes you to be the manager of the property and have residence in the property until your child are 18 years of age.

If you want to have a real secure future for your child in the event your death (and you have the financial means to provide after your death), then do this by will and testiment from Farangland. Take a look at the "General Branch" there is advice there on wills.

This would be my advice also. Not that there are any serious problems in buying in your child's name, just there is not much point. If you buy in your child's name the money invested in the property is no longer yours or your wife's. A judge will decide its fate up until the child reaches 18.

Can't say I agree with marshbags' lawyers doom and gloom scenario.Without a good lease and Will you are always open to family challenges whoever is the owner. However this was 6 years ago and children's rights have considerably improved in recent years.

[marshbags]

My advice would be buy the property under your wife's name and lease it off her. Get your wife to make a will in favour of your child with the specific clause that she wishes you to be the manager of the property and have residence in the property until your child are 18 years of age.

If you want to have a real secure future for your child in the event your death (and you have the financial means to provide after your death), then do this by will and testiment from Farangland. Take a look at the "General Branch" there is advice there on wills.

This would be my advice also. Not that there are any serious problems in buying in your child's name, just there is not much point. If you buy in your child's name the money invested in the property is no longer yours or your wife's. A judge will decide its fate up until the child reaches 18.

Can't say I agree with marshbags' lawyers doom and gloom scenario.Without a good lease and Will you are always open to family challenges whoever is the owner. However this was 6 years ago and children's rights have considerably improved in recent years.

Some sensible observations from Dragonman and Guesthouse.

A couple of things noted.

While it is correct to make a will ect. in farang land you are well advised to keep most of their inheritance there along with it and secure your wishes as stated.

If you die there will for sure be a big problem in full filling your intructions in Thailand unless things change drastically.

Again from what i was recently advised any legal document there is not going to amount to much here along with a long and costly dispute that could go on and on.

It is not any problem buying a property/ investing here as you wish, the crunch comes when it,s time to inherit and the Thai judge applies his interpretations, as is indicated.

I also agree that what i was advised sounds all doom and gloom but i have yet to see evidence that shows rights in favour of your children taking into account the volatility of courts/laws in Thailand.

I agree again that things are improving but not to the extent that assures your/their rights are going to be protected as per your wishes.

I have honestly lost considerable sleep muling over and trying to provide in a way that we would all

deem lawful and sound in a way that benefits my wife and eventually my daughter, but i have yet

to be convinced and shown evidence it is possible.

If someone can provide me with information to the contrary i would be very grateful.

I love it here but the legal uncertaincy, censorship and bias against farang ownership for mixed families peeves me off.

marshbags

Edited April 2, 2006 by marshbags

[solo siam]

Theres one problem I see with this, dont children have to make a choice at 18 years of age, and either be Thai or their other nationality. Thailand doesnt recognise dual nationality.

Most people would presumably choose their other nationality (or try to dual) if the Thai authorities find out someone owns property here but is now not a "Thai", what happens? Seeing as currently only Thais can own property.

[Nawtilus]

Thais cannot have dual nationality, oh my god, better tell my kids to choose

[Dragonman]

Theres one problem I see with this, dont children have to make a choice at 18 years of age, and either be Thai or their other nationality. Thailand doesnt recognise dual nationality.

Most people would presumably choose their other nationality (or try to dual) if the Thai authorities find out someone owns property here but is now not a "Thai", what happens? Seeing as currently only Thais can own property.

Under the Citizenship Act (3rd Issue) 1992 a person with dual citizenship may revoke their Thai citizenship within a year of their 20th birthday. If they do not revoke they will remain with dual nationality.

[Dragonman]

My advice would be buy the property under your wife's name and lease it off her. Get your wife to make a will in favour of your child with the specific clause that she wishes you to be the manager of the property and have residence in the property until your child are 18 years of age.

If you want to have a real secure future for your child in the event your death (and you have the financial means to provide after your death), then do this by will and testiment from Farangland. Take a look at the "General Branch" there is advice there on wills.

This would be my advice also. Not that there are any serious problems in buying in your child's name, just there is not much point. If you buy in your child's name the money invested in the property is no longer yours or your wife's. A judge will decide its fate up until the child reaches 18.

Can't say I agree with marshbags' lawyers doom and gloom scenario.Without a good lease and Will you are always open to family challenges whoever is the owner. However this was 6 years ago and children's rights have considerably improved in recent years.

Again from what i was recently advised any legal document there is not going to amount to much here along with a long and costly dispute that could go on and on.

It is not any problem buying a property/ investing here as you wish, the crunch comes when it,s time to inherit and the Thai judge applies his interpretations, as is indicated.

I also agree that what i was advised sounds all doom and gloom but i have yet to see evidence that shows rights in favour of your children taking into account the volatility of courts/laws in Thailand.

I agree again that things are improving but not to the extent that assures your/their rights are going to be protected as per your wishes.

I have honestly lost considerable sleep muling over and trying to provide in a way that we would all

deem lawful and sound in a way that benefits my wife and eventually my daughter, but i have yet

to be convinced and shown evidence it is possible.

If someone can provide me with information to the contrary i would be very grateful.

I love it here but the legal uncertaincy, censorship and bias against farang ownership for mixed families peeves me off.

marshbags

I agree with you comments regarding uncertainty for farangs, but still see no evidence that a thai child will not be treated as per the law in any inheritance case. All these urban legends come from cases where there is no "unchallengeable" Will, such as that possible to be made at the Amphur- "Public Will". There is definitely a problem if the Will is challengeable, or there is no Will!

Of course if nobody believes the rule of law will apply in Thailand, then no lawyer can convince, but in 95% of cases here and abroad the law is effected. I think the problem is created due to the fact that we have all seen the decisions that stink, yet no one posts the hundreds of decisions made every week that are based on law. However no one can give a guarantee

[marshbags]

My advice would be buy the property under your wife's name and lease it off her. Get your wife to make a will in favour of your child with the specific clause that she wishes you to be the manager of the property and have residence in the property until your child are 18 years of age.

If you want to have a real secure future for your child in the event your death (and you have the financial means to provide after your death), then do this by will and testiment from Farangland. Take a look at the "General Branch" there is advice there on wills.

This would be my advice also. Not that there are any serious problems in buying in your child's name, just there is not much point. If you buy in your child's name the money invested in the property is no longer yours or your wife's. A judge will decide its fate up until the child reaches 18.

Can't say I agree with marshbags' lawyers doom and gloom scenario.Without a good lease and Will you are always open to family challenges whoever is the owner. However this was 6 years ago and children's rights have considerably improved in recent years.

Again from what i was recently advised any legal document there is not going to amount to much here along with a long and costly dispute that could go on and on.

It is not any problem buying a property/ investing here as you wish, the crunch comes when it,s time to inherit and the Thai judge applies his interpretations, as is indicated.

I also agree that what i was advised sounds all doom and gloom but i have yet to see evidence that shows rights in favour of your children taking into account the volatility of courts/laws in Thailand.

I agree again that things are improving but not to the extent that assures your/their rights are going to be protected as per your wishes.

I have honestly lost considerable sleep muling over and trying to provide in a way that we would all

deem lawful and sound in a way that benefits my wife and eventually my daughter, but i have yet

to be convinced and shown evidence it is possible.

If someone can provide me with information to the contrary i would be very grateful.

I love it here but the legal uncertaincy, censorship and bias against farang ownership for mixed families peeves me off.

marshbags

I agree with you comments regarding uncertainty for farangs, but still see no evidence that a thai child will not be treated as per the law in any inheritance case. All these urban legends come from cases where there is no "unchallengeable" Will, such as that possible to be made at the Amphur- "Public Will". There is definitely a problem if the Will is challengeable, or there is no Will!

Of course if nobody believes the rule of law will apply in Thailand, then no lawyer can convince, but in 95% of cases here and abroad the law is effected. I think the problem is created due to the fact that we have all seen the decisions that stink, yet no one posts the hundreds of decisions made every week that are based on law. However no one can give a guarantee

Thanks for the benefit of your additional knowledge on the post, Dragonman.

I am one of the unaware cases that only read/hear about the negative side and i take on board what you say. ( i did experience negativity on a business arrangement which didn,t help. )

All we want is a small bit of land and a home for our loved ones secure in the knowledge that it legally belongs to the family, and free of third party interference/abuse.

Thanks again

marshbags

[GuestHouse]

Of course if nobody believes the rule of law will apply in Thailand, then no lawyer can convince, but in 95% of cases here and abroad the law is effected. I think the problem is created due to the fact that we have all seen the decisions that stink, yet no one posts the hundreds of decisions made every week that are based on law.

You'd have to dig back a long way but I think you'll find the advice I gave and give regarding leasing and wills is based on the good experience of a Thai court upholding a Will where the Thai wife of a foreigner had died and the her family tried to challenge the will (in order to get their hands on the property).

Keep in mind that large numbers of foreigners owning property in Thailand is a relatively new occurance. Ten years ago it happened but was unusual, now Thailand is fast becoming a retirement choice for large numbers of foreigners.

Given the demography of those retiring in Thailand it won't be long before a they start popping their cloggs and then we'll see the Thai legal system's response to foreign ownership.

The real risky one to me is the Front Company - There are explicit clauses in Thai law that prohibit the operation of a front company to enable foreigners to own land. There are also significant problems with closing Thai Majority Companies.

It think this is a story where the main chapter has yet to be written - No guessing who the winners and losers will be.

[think_too_mut]

Building a 15-20K US$ Isaan Palace is a big deal? For the women you love?

Then, land ownership?

If worse comes to worse, chalk it to the exeperience.

If you can't afford that kind of loss, well...

[marshbags]

Building a 15-20K US$ Isaan Palace is a big deal? For the women you love?

Then, land ownership?

If worse comes to worse, chalk it to the exeperience.

If you can't afford that kind of loss, well...

No offence T.T.M but the poster is asking about his children and is a totally seperate issue from

"the one you love " and is to make it secure for them, not chalk it of to experience.

marshbags