Property name change

[ronaldo0]

I recently borrowed some money from a local thai and put my house as guarentee incase i didnt pay it back.

When i added his name to the title they charged 90000bht tax although my name was still in the deed and now to remove his name they want 37000bht!! Is this just a farang con??

The cost to change a name in a car is only about 2000bht!!

[Tropicalevo]

Just a guess on my part, but if the number of zeros on those prices is correct - then you have been scammed. I feel for you. That is a lot of dosh.

Do you really believe that a Thai will pay 90,000 baht to change a name on a government document. Most Thais that I know have never seen that much money.

[ronaldo0]

Am not sure but i think i get charged 7-8% tax and thais just pay 2%. Hence why my wifes name will be going in it and not mine! I aint bloody paying that again if i sell it.This was done at the government office.

[Tropicalevo]

Sorry, I misunderstood. I did not realise that it was land that you were using as collateral.

If it's property tax then those figures could be correct. Thais definitely pay a lower price - usually because foreigners have to pay company capital gains tax etc.

It also depends on whether or not you are using actual sale price or land office calculated price.

[Mario2008]

You paid money to have the chanote show that the land is under a surity and the land cannot be sold without approval (payment) of the creditor.

That has a standerd fee of X percent of the land value. Don't know about the cost of removal of the name. But if you get a receipt, it is normally all above board.

[lucjoker]

you are verry lucky,normaly you had lost your land already!

The most idiot thing to do in Thailand is :"I recently borrowed some money from a local thai"

But also "farang" are not to be trusted !

Some tried to buy my plot of land ,had to have a loan of the bank .

He tried to put me up as lender in the bank,steel my company......every trick of the book !

He lives in Nong Palai ,says he's a lawyer,not true.

He stole a pest-companie from his friend and put his wife as director.

Be verry careful ,dont believe nothing!

[falang07]

So one can borrow money against a house title deed in farang name? Since when can a farang have his name on the deed? I doubt anyone would lend money against a usufruct so am I missing something?

[crazykopite]

Am not sure but i think i get charged 7-8% tax and thais just pay 2%. Hence why my wifes name will be going in it and not mine! I aint bloody paying that again if i sell it.This was done at the government office.

And what will you do if or when your wife leaves you and she kicks you out happened to my mate If you put it in your wife's name at the same time make sure you lodge a 30 year lease issued by her to you

[PoorSucker]

Am not sure but i think i get charged 7-8% tax and thais just pay 2%. Hence why my wifes name will be going in it and not mine! I aint bloody paying that again if i sell it.This was done at the government office.

And what will you do if or when your wife leaves you and she kicks you out happened to my mate If you put it in your wife's name at the same time make sure you lodge a 30 year lease issued by her to you

You will get 50% of the value after sale.

The 30 year lease is void in case of divorce because she has to sell the land and give 50% of the value to you.

[samuibruno]

im with some others on this one

you have been scammed already with those prices

a lawyer may have been cheaper [of your choice]

ive had/done loans before and the cost isnt that high

good luck

[BigC]

Am not sure but i think i get charged 7-8% tax and thais just pay 2%. Hence why my wifes name will be going in it and not mine! I aint bloody paying that again if i sell it.This was done at the government office.

yes property tax has gone through the roof. the price of tax ona 1.5 mill condo was about 130 k.