Buying a condo in bangkok and how safe are you ?

[maplevan]

Hello Fellow Members, I am married to Thai girl almost 3 years now and going to buy a condo in bangkok which is around 7 million. If I get divorce from this marriage in the future, , Am I supposed to pay half to her under Thai Law or not. I live in Canada and this condo is being purchased with my savings as investment . All funds will be from Canada and title will be under my name only. Ar present she lives with me in Canada and visit thailand with me once a year. I do not want to lose my apartment in event divorce occures.

[ukrules]

It will be 50% hers from the day you buy it.

[NCC1701A]

did you get married in Thailand or Canada?

[kannot]

divorce her , buy it and re marry her?

[Nowhereman60]

Would you be asking this same question if you were married to a women from your country? Or because she is Thai?

[ukrules]

Would you be asking this same question if you were married to a women from your country? Or because she is Thai?

I doubt it, the OP will probably be aware of the law in his home country, after all he comes from there.

Everyone should ask this question because more often than not it can result in a man losing a lot of his assets if / when things turn sour.

I know I'm never planning on getting married, the whole thing's a con.

"If you fail to plan you're planning to fail." - Some American.

[tingtong]

Would you be asking this same question if you were married to a women from your country? Or because she is Thai?

a valid point, however in his country there is marriage contracts, and lows that hold up both parties rights pretty equally,

worst case he could be still sure to get back 50% of what he spent on the condo.

as for the OP:

since divorce also is in your mind, someplace...

the simple solution:

RENT!

for once a year visits you dont want to own a place, pay year-round maintanence and whatnot.

i dont know (or care really) but your post sound a bit that this 7 mThb is a larger part of the savings...if yes, should think carefully, or downsize maybe a bit? less can still buy a decent place.

[GAZZPA]

Would you be asking this same question if you were married to a women from your country? Or because she is Thai?

Because he is buying in a foreign country and doesn't know the law,, pretty obvious.

I think that as you acquire it after you are married she is entitled to 50%.

[crazykopite]

Why buy if you only come to visit once per year unless you are prepared to rent it out it seems a sheer waste to me on top of this you will have to pay management fees / maintenance If I were you I would forget it . I did the same thing in the USA and if I am honest it ended up a nightmare as I never visit so I am talking from experience but at the end of the day it is your call Good Luck !!!!!

[phitsanulokjohn]

I do not want to lose my apartment in event divorce occures?Then don't worry you'll only lose half of it.

[bra]

When my Australian wife and I were divorced in Australia everything was split 50% and I would not have it any other way. In Australia the same applies to those who are not married but have a recognised permanent de facto relationship. If one of the parties goes to court you will nearly always get the same result. I think in Thailand the same applies, but I am not sure about de facto relationships. If you don't want to share half with your wife or partner don't get married - just have one night stands for the rest of your life. This is not directed personally at the OP - applies to anyone.

[lorbhaim]

In a case like this:

How about making a prenupital/common life agreement that covers you buying exclusively the property from your own funds?

Does this work?

[mortenaa]

Don't worry. A condo can be a good investment. Location location. If the relationship fails, the condo is still yours, unless she goes to court. Then you have to prove that the money was acquired before actually buying it. Shouldn't be too difficult. Or you can leave the country, with the keys in your pocket. I think she would have a very hard time get her hands on it.

[Jasun]

The assets you owned pre marriage remain yours, even if they were converted to another asset type - cash to property and vice versa.

[kaleyho]

You must be buying a huge space for that price( 7 million baht =$ 225K). Depending on where you buy, new condos are available near Pattaya for just 1 million baht. I was thinking to buy one too, but I am might live with someone who already has two houses there, so I gave up buying :-) With that kind of money, I would buy a condo in Maui and give it on rent...that is what I am doing now :-)

The rent money can pay my "salary" and live comfortably in Thailand!

[anon8]

Don't worry. A condo can be a good investment. Location location. If the relationship fails, the condo is still yours, unless she goes to court. Then you have to prove that the money was acquired before actually buying it. Shouldn't be too difficult.

Or you can leave the country, with the keys in your pocket. I think she would have a very hard time get her hands on it.

Terrible advice, and wrong on all points. The funniest part is him leaving with the keys, in order to keep the condo.

They are married, from the moment they buy it, its his and hers. As investment, highly unlikely condo will sold for more than payed for, only question is how much of a loss. Please read the ThaiVisa condo thread carefully, not just one page, best investment of your time.

Rent, and when done drop the keys to management office, and take a cab to airport.

[RogueLeader]

If you're thinking about how to protect your assets in the event of a divorce and deprive your wife of her share of them even at this stage, perhaps it's not the safety and wisdom of your condo purchase that you should be questioning.

[Ulic]

The answer depends on many things. The matrimonial home is 50% hers the second you get married. (the equity and debt)

She is entitled to 50% of the increase in your combined assets from the time you are married. So you get what you come

into the marriage with and she gets what she comes into the marriage with and you split your increase in assets 50/50 and

the matrimonial home is split 50/50. Any inheritance is separate as long as it is kept in separate accounts/ investments.

If it is deposited into the family bank account or used to pay the matrimonial home mortgage it becomes split 50/50.

So if yo buy a condo in BKK for 7 million Baht and the value over time goes to 14 million she is entitled to 3.5 million baht.

That is if purchased with assets you had before you were married. So the issue can be quite complicated.

This is the theory. However if you split up and your wife goes to see an unscrupulous lawyer (many) who promises her more

then the litigation fun begins. As long as you have assets that will pay both parties of the top until there is virtually

nothing left. At $400 an hour minimum this gets costly in a hurry until someone cries uncle and gives a better deal to the other.

I would advise seeing a divorce lawyer if you want and opinion. This is very important as law is very specialized.

You do not see a proctologist for brain surgery.

This of course is if you get a divorce in Canada.

[charliebru]

Marriage is a woman's game. If you don't have a pre-nup; she does.

[Rudyruns]

Marriage is a woman's game. If you don't have a pre-nup; she does.

Please be careful and think this out before you sign on the dotted line. I and many other have stories we can tell you, but we don't know your entire situation. Personally, I would say rent. You can get a nice place in Bkk or Thailand; for that matter and not have to worry about other consequences years down the road. I sure hope you think about all the comments written before you buy. Ciao ;0)

[Dellie]

You must be buying a huge space for that price( 7 million baht =$ 225K). Depending on where you buy, new condos are available near Pattaya for just 1 million baht. I was thinking to buy one too, but I am might live with someone who already has two houses there, so I gave up buying :-) With that kind of money, I would buy a condo in Maui and give it on rent...that is what I am doing now :-)

The rent money can pay my "salary" and live comfortably in Thailand!

Bangkok is NOT Pattaya. 7 million doesn't really get you anything fancy if your looking at a popular area like say mid Sukhumvit. Know several people who spent 20+ million on condos in Phrom Pong and Thong Lor areas for example. Bangkok is a Capital city and a living breathing metropolis. Pattaya is a sleazy vacation town by the sea. The 2 are not comparable.

[winstonc]

me thinks shes telling you to buy.....am i correct .....

[Saradoc1972]

The answer depends on many things. The matrimonial home is 50% hers the second you get married. (the equity and debt)

She is entitled to 50% of the increase in your combined assets from the time you are married. So you get what you come

into the marriage with and she gets what she comes into the marriage with and you split your increase in assets 50/50 and

the matrimonial home is split 50/50. Any inheritance is separate as long as it is kept in separate accounts/ investments.

If it is deposited into the family bank account or used to pay the matrimonial home mortgage it becomes split 50/50.

So if yo buy a condo in BKK for 7 million Baht and the value over time goes to 14 million she is entitled to 3.5 million baht.

That is if purchased with assets you had before you were married. So the issue can be quite complicated.

This is the theory. However if you split up and your wife goes to see an unscrupulous lawyer (many) who promises her more

then the litigation fun begins. As long as you have assets that will pay both parties of the top until there is virtually

nothing left. At $400 an hour minimum this gets costly in a hurry until someone cries uncle and gives a better deal to the other.

I would advise seeing a divorce lawyer if you want and opinion. This is very important as law is very specialized.

You do not see a proctologist for brain surgery.

This of course is if you get a divorce in Canada.

That is sound advice and more or less sums up how things work in western countries.

Just don't be so cruel on us lawyers."Mit Anwalt ist immer billiger." (you always save money doing things with a lawyer) :-)

The real problem I see is that you are both living in Canada on a permanent basis. Even if you got married in Thailand I strongly suspect a Canadian court would apply Canadian laws pertaining to assets, accruals, and alimony to that divorce and only look to Thai laws with a view as to how the marriage can be legally ended there (it's called re-envoy). And then throw out any provisions they don't like for Canadian ordre-public, like the male party's right to custody of male children in muslim countries.

Hence, with a view to divorce you might already be in for it, especially if you got or get any children.

By converting your own separate assets into a common asset like a house that will serve your nuptial setup you might even make things worse with regard to that money.

But I am out of my depth here and certainly not Canadian, so do get good specialized legal advice. If you don't know where to look, there is bound to be a whole crowd of Canadian lawyers in Bangkok who do little else over the day than explaining Thai/Canadian marriage law to Canadians and have seen it all before dozens of times in all possible variations. Make an appointment while you're over looking for that condo.

[Saradoc1972]

In a case like this:

How about making a prenupital/common life agreement that covers you buying exclusively the property from your own funds?

Does this work?

I wouldn't place my trust in prenuptials. A lot of provisions get thrown out in court because the state doesn't want its legal provisions canceled out by a piece of paper, notary or not.

Most provisions are for supporting poor poor wifey who has thrown away her youth and career opportunities living with her husband and keeping her off public welfare by making the guy pay.

As I see it, they can be helpful, but mainly in a setting where huge assets/income and especially companies are involved, as basic (actually: affluent) support it not of the issue here.

Can't hurt having s.o. look into these, but they are no cure-all.

[bangkokstick]

You can buy a condo before or after being married but anyway you will have to give half when you divorce IF THE JUDGE DECIDES.

The contract that you could do is worth nothing compared to a judge decision, so forget being protected or keep your money, she will get it when you die anyway.

[Wheelbase21]

Well, if you're moving to Thailand and taking your money with you, be prepared for a shock. Requests for money from the family will be relentless. Your wife will probably revert back to the thai way where "Mother" comes first and you will become the typical "Farung" who will be targeted for your money. When the money has dried up you'll be in for your second shock including your visa requirements....I lived in Thailand over 20 years, speak fluent Thai, worked with the Thai government for nearly 5 years, write reasonable Thai and am married with 2 children (21 years) Believe me I know what I'm talking about...I have just recently returned to my own country and I am so glad to be back. My advice: Stay in Canada, where you can control your money, are not just a "Farung," have a first-class health system!

[dao16]

7 million baht is a lot of money to invest--it sounds like a good law firm is in order, even better, one that deal with both Canadian and Thai law.

[dighambara]

Would you be asking this same question if you were married to a women from your country? Or because she is Thai?

a valid point, however in his country there is marriage contracts, and lows that hold up both parties rights pretty equally,

worst case he could be still sure to get back 50% of what he spent on the condo.

as for the OP:

since divorce also is in your mind, someplace...

the simple solution:

RENT!

for once a year visits you dont want to own a place, pay year-round maintanence and whatnot.

i dont know (or care really) but your post sound a bit that this 7 mThb is a larger part of the savings...if yes, should think carefully, or downsize maybe a bit? less can still buy a decent place.

Rentr is money in the toilet. Marriage is based on trust. If you don't trust, then don't marry.

[RogueLeader]

Would you be asking this same question if you were married to a women from your country? Or because she is Thai?

a valid point, however in his country there is marriage contracts, and lows that hold up both parties rights pretty equally,

worst case he could be still sure to get back 50% of what he spent on the condo.

as for the OP:

since divorce also is in your mind, someplace...

the simple solution:

RENT!

for once a year visits you dont want to own a place, pay year-round maintanence and whatnot.

i dont know (or care really) but your post sound a bit that this 7 mThb is a larger part of the savings...if yes, should think carefully, or downsize maybe a bit? less can still buy a decent place.

Rentr is money in the toilet. Marriage is based on trust. If you don't trust, then don't marry.

Money spent on a house is money in the toilet if you end up losing it.

Thinking about things is often quite rewarding.

[FiftyTwo]

If she is living with you in Canada, she will be entitled to a division of assets under Canadian law.

No matter what you do.

Edited September 23, 2013 by FiftyTwo