Can Farang Father Enter into Usufruct Contract with (Biological) Thai daughter?

[Ahnsahn]

Our local Land Transportation office recognizes both Usufructs and 30 year leases.

Can a farang father enter into a Usufruct contract or a 30 year lease with his (biological), unmarried Thai daughter on her home which she is financing? Does a house had to be financially free and clear before she can do either one?

[AyG]

Mustn't have a mortgage or other 3rd party right over the property.

Owner being your daughter is irrelevant.

[Ahnsahn]

Mustn't have a mortgage or other 3rd party right over the property.

Owner being your daughter is irrelevant.

Thanks! ..... I guess it's on to 'Plan B'!

[Mario2008]

Owner being the daughter is only relevant if the daugther is under 20 years of age (a minor).

If a minor a usefruct cannot be established without approval from the court (which you will not get). Than a usefruct can only be established as part of giving the land to your child.

But OP's post suggest she is not a minor but an adult.

[rcalsop]

Sorry slightly off topic

From previous post "Owner being the daughter is only relevant if the daugther is under 20 years of age (a minor)""

what is the age of majority in Thailand and is it gender based , is it 20 ? I must confess I thought it was 18 as many countries .

[rcalsop]

Sorry slightly off topic

From previous post "Owner being the daughter is only relevant if the daugther is under 20 years of age (a minor)""

what is the age of majority in Thailand and is it gender based , is it 20 ? I must confess I thought it was 18 as many countries .

[cabanlit]

Thought you'd have to be the land 'owner' to be able to give an usufruct. Is the farang father the land 'owner'?

Edited July 9, 2013 by cabanlit

[johnlandy]

Thought you'd have to be the land 'owner' to be able to give an usufruct. Is the farang father the land 'owner'?

He might well have paid for it (the land) but he cannot be the owner...

[Ahnsahn]

Thought you'd have to be the land 'owner' to be able to give an usufruct. Is the farang father the land 'owner'?

Thought you'd have to be the land 'owner' to be able to give an usufruct. Is the farang father the land 'owner'?

He might well have paid for it (the land) but he cannot be the owner...

The parents decided to have the property that they bought, financed in their 20 yr old Thai daughter's name (as a condition of the finance company for problem-free loan qualification), in turn, making the daughter the 'legal' owner under Thai law.

The farang father now wishes to 'lock in' some legal property rights of ownership for himself via usufruct or 30 year lease, but it looks like the property has to be owned 'free and clear' before he can do this.

Edited July 10, 2013 by Ahnsahn

[Mario2008]

Sorry slightly off topic

From previous post "Owner being the daughter is only relevant if the daugther is under 20 years of age (a minor)""

what is the age of majority in Thailand and is it gender based , is it 20 ? I must confess I thought it was 18 as many countries .

20, but like in many countries you probably also become an adult when you marry before the age of 20. (Not sure on this, but is standerd practise in almost all countries)

[Mario2008]

The question is if you can establish a usefruct while the land/house are being financed.

Probably not, or it will only be valid after it is debt free or cannot be used in case the debt is not paid and the creditor wants to sale the land.

A usefruct would reduce the value of the property, so it would put the financer in a disadvantage. That will not be allowed.

[Ahnsahn]

The question is if you can establish a usefruct while the land/house are being financed.

Probably not, or it will only be valid after it is debt free or cannot be used in case the debt is not paid and the creditor wants to sale the land.

A usufruct would reduce the value of the property, so it would put the financier in a disadvantage. That will not be allowed.

This looks to be the base-line reasoning and the answer!