Legal advice buying a house

[gert66]

My thai girlfriend and myself wants to buy a house in the near future (with my money). Have been looking at a semi detatched house, price 2.4 million baht. Is there any ways to secure and not loose this investment, in case we break up.

Gert

[JohnC]

Rent!! Don't buy !

[laxman1960]

What you do is put the minimum down payment you can to qualify her for a mortgage. This way you not risking too much money should it all go pear shaped. If you break up all you lose is the down payment and payments made. If you pay it all she owns a nice house and then if it broke up she can throw you out of her house.

You can't own land yourself so this is one way to protect yourself especially since not married.

[AnotherOneAmerican]

My very best legal advice is, don't do it.

In what other country of the world would you consider buying a girlfriend a house in her name using your money?

[falkan]

if you really want to buy it, setup a company just search on the forum and you find alot of info..

[Geoff plus 2]

Agree with JohnC, rent. If gf doesn't like that idea tell her the whole world is about to turn to shit in the next two years and when it does the same house will only be worth 1.5m baht and you'll buy it then and a new car for her:rolleyes:

You'll learn lots about you gf during this, and I also think the world is about to turn into shit, those with money ready to step in after the crash will be miles in front.

However, would love to hear from anybody, is there anyway to protect yourself if you do buy land/house in Thailand in you wifes name (longterm relationship including children). Any options ? or do you only buy want you can afford to lose someday......maybe

Really would like a house and land up north maybe in 5 years or so

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[AnotherOneAmerican]

However, would love to hear from anybody, is there anyway to protect yourself if you do buy land/house in Thailand in you wifes name (longterm relationship including children). Any options ? or do you only buy want you can afford to lose someday......maybe

There is absolutely no way a foreigner has any chance of keeping a house they purchased with their cash in Thailand.

In the end, if a Thai wants it, a Thai will kill you for it, and nobody will give a dam_n about another dead foreigner.

Safest option is to get a Thai to buy using a home loan (80-90%), then they still need you around to make the repayments.

Edited September 2, 2013 by AnotherOneAmerican

[transam]

With gf, forget it. Rent. If you eventually get hitched then perhaps you will have some recourse but if just a gf hmmmmmmmmmmmm, daft idea.

[mesquite]

OP there are some excellent posts here and I hope you read them and heed the advice. Renting is the best way.

It might be wise for those who have recently moved to LOS and have not yet acquired a girlfriend/wife to consider keeping their financial status a secret from their future beloved and everyone else. That is assuming they have 2+ million THB in assets that could be used to buy a house. Some of the happiest people I know are men who have, or say they have, virtually no savings and a small pension and live in a rented room with or without a girlfriend.

I have known men who felt compelled to bring a high balance financial data sheet with them on the first physical meeting (right after the Thai Love Links intro). A fool and his money are soon parted, and that is what happened.

Another one died in a mysterious accident after bringing all his assets to Thailand and broadcasting that fact to anyone who would listen. His Thai wife inherited everything.

Edited September 3, 2013 by mesquite

[keeniau96]

Good advice from all except for the buying through company. That is a common dodge and is just that, a dodge that can be invalidated by a government official looking into it. SOme agents and lawyers will feed you feel-good stories and they will sound good, but in the end it is at best questionable and easily invalidated.

[transam]

OP there are some excellent posts here and I hope you read them and heed the advice. Renting is the best way.

It might be wise for those who have recently moved to LOS and have not yet acquired a girlfriend/wife to consider keeping their financial status a secret from their future beloved and everyone else. That is assuming they have 2+ million THB in assets that could be used to buy a house. Some of the happiest people I know are men who have, or say they have, virtually no savings and a small pension and live in a rented room with or without a girlfriend.

I have known men who felt compelled to bring a high balance financial data sheet with them on the first physical meeting (right after the Thai Love Links intro). A fool and his money are soon parted, and that is what happened.

Another one died in a mysterious accident after bringing all his assets to Thailand and broadcasting that fact to anyone who would listen. His Thai wife inherited everything.

Never ever ever ever talk about your cash, even if your ugly and want to impress a bird, you are a farang and that is all that matters in LOS. I know folk who have done the ''Look at my bank balance'', and suddenly ''they'' own bits of ''expensive'' land all over the place that's worth naff all.

[falkan]

Good advice from all except for the buying through company. That is a common dodge and is just that, a dodge that can be invalidated by a government official looking into it. SOme agents and lawyers will feed you feel-good stories and they will sound good, but in the end it is at best questionable and easily invalidated.

and many times this such thing ever happened? c'mon son!

[planetdweller]

You're going to regret it. Do not do it. period.

[gert66]

Thanks so far for advice.

Been together with GF for some years now. Plans to marry and hopes to grow old with her here in Thailand. I take notice of some of the warnings I received in this tread and I am quite aware of that many falangs have been scammed by their Thai love. I am however ready to take the chance and dive in now. But as no one can predict the future I would like (if possible) to protect my investment or at least some of it in case it does'ent work around. In case we marry could that bring me any options. I'm thinking of a longterm lease or rental agreement so she would not be able to kick me out and then place myself in better negosiation position in case we split.

Gert

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[AnotherOneAmerican]

Thanks so far for advice.

Been together with GF for some years now. Plans to marry and hopes to grow old with her here in Thailand. I take notice of some of the warnings I received in this tread and I am quite aware of that many falangs have been scammed by their Thai love. I am however ready to take the chance and dive in now. But as no one can predict the future I would like (if possible) to protect my investment or at least some of it in case it does'ent work around. In case we marry could that bring me any options. I'm thinking of a longterm lease or rental agreement so she would not be able to kick me out and then place myself in better negosiation position in case we split.

Gert

Lease or contract just makes you worth more dead, don't do it.

Number of foreign guys that live with a Thai girl for years, think theirs is different, then get kicked out right after buying her a house, unbelievable.

As I said before,

Let her get a home loan, you make the payments, much safer for you and your relationship.

[mesquite]

Thanks so far for advice.

Been together with GF for some years now. Plans to marry and hopes to grow old with her here in Thailand. I take notice of some of the warnings I received in this tread and I am quite aware of that many falangs have been scammed by their Thai love. I am however ready to take the chance and dive in now. But as no one can predict the future I would like (if possible) to protect my investment or at least some of it in case it does'ent work around. In case we marry could that bring me any options. I'm thinking of a longterm lease or rental agreement so she would not be able to kick me out and then place myself in better negosiation position in case we split.

Gert

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Please remember that maybe you can't be kicked out, you can be driven out by your wife undergoing a sudden personality change that makes you want to leave.

Renting or having her get a loan as described above is the way to go. Her reaction will tell you a lot about her.

The reason we are telling you all this is that we have seen and experienced relationships going south.

Edited September 3, 2013 by mesquite

[transam]

Thanks so far for advice.

Been together with GF for some years now. Plans to marry and hopes to grow old with her here in Thailand. I take notice of some of the warnings I received in this tread and I am quite aware of that many falangs have been scammed by their Thai love. I am however ready to take the chance and dive in now. But as no one can predict the future I would like (if possible) to protect my investment or at least some of it in case it does'ent work around. In case we marry could that bring me any options. I'm thinking of a longterm lease or rental agreement so she would not be able to kick me out and then place myself in better negosiation position in case we split.

Gert

Lease or contract just makes you worth more dead, don't do it.

Number of foreign guys that live with a Thai girl for years, think theirs is different, then get kicked out right after buying her a house, unbelievable.

As I said before,

Let her get a home loan, you make the payments, much safer for you and your relationship.

Yep, or rent and ''take in'' any reaction.

[worgeordie]

Thanks so far for advice.

Been together with GF for some years now. Plans to marry and hopes to grow old with her here in Thailand. I take notice of some of the warnings I received in this tread and I am quite aware of that many falangs have been scammed by their Thai love. I am however ready to take the chance and dive in now. But as no one can predict the future I would like (if possible) to protect my investment or at least some of it in case it does'ent work around. In case we marry could that bring me any options. I'm thinking of a longterm lease or rental agreement so she would not be able to kick me out and then place myself in better negosiation position in case we split.

Gert

Lease or contract just makes you worth more dead, don't do it.

Number of foreign guys that live with a Thai girl for years, think theirs is different, then get kicked out right after buying her a house, unbelievable.

As I said before,

Let her get a home loan, you make the payments, much safer for you and your relationship.

Hi Anotherone American, Which method have you yourself chosen,? I am sure you said in another thread you where building a house,am i wrong

regards worgeordie

[Delight]

You could of course get a Usufruct on the property. This will be worded to your benefit and dies when you die.

A Usufruct (meaning 'user of the fruit' ) ensures that if you split she has to go -not you.

The problem is, however, that the property cannot be sold with you in it and your death may be premature.

Also you would be unwise to marry her.

[AnotherOneAmerican]

Hi Anotherone American, Which method have you yourself chosen,? I am sure you said in another thread you where building a house,am i wrong

regards worgeordie

I bought the house in my own name (I have Thai citizenship).

Well 20% of it anyway, the bank owns the other 80% on a home loan.

Thailand is wildly unstable, I wouldn't want to risk my own money at the moment.

[topt]

You could of course get a Usufruct on the property. This will be worded to your benefit and dies when you die.

A Usufruct (meaning 'user of the fruit' ) ensures that if you split she has to go -not you.

The problem is, however, that the property cannot be sold with you in it and your death may be premature.

Also you would be unwise to marry her.

Agree with the usufruct part. I suggest the OP searches under Usufruct in this forum as this has been discussed on many occasions. You can possibly further protect yourself by getting an agreement that shows you lent the money to your GF to buy the house and in the event of a split it is sold and the money goes to you. Not sure if this helps once you are married however.....

[Arkady]

It is no longer that easy to buy land through a Thai company since the Interior Ministry's lettet to land offices of 1996. The letter instructed land offices to investigate Thai shareholders of any company applying to register a title deed, if there is any foreign involvement or suspicion of foreign involvement whatsoever. The Thai shareholders have to show evidence of how they acquired the money to invest in the company and for it to buy land and answer questions about the business plan of the company that requires it to buy a residential property. The previous regulation only required investigation, if foreigners owned over 20% of the company and it was easy to reduce foreign ownership below 20% for a few hours and bump it back up again immediately after transfer of the deed, even signing the documents right there in the land office.

Those days are gone and in any case it is quite a hassle to maintain a company. Your best bet is to secure your tenure of the house by registering a life time usufruct agreement at nil consideration.