Frang to Build a House on Thai owned land

[sitta]

I want to build a small house on my Thai friend's land, but I like to protect my investment, so If leased the land and built on it, will it legally protect my investment?

[RKASA]

Yes and No, in a way, but IMHO forget about the idea of an investment.

It will be during the term of the lease cheaper then renting the same thing if you don't over build - build cost vs lease term are importent - you may get some money back out of it when you leave, but if not, you can be sure it was cheaper then rent. Not so bad in the end - if you think about the fact you can't own the land anyway.

Then again you could be lucky and get a willing buyer for both the land and the house and split funds and make out like a bandit. As clint would say: "Well! do you feel lucky do ya".

[Khun Jean]

Get a usufruct instead. Costs will be a few hundred baht and no taxes to be paid by your friend.

You can get a form for it at the land office.

Another added bonus is that it can be for live. So no 30 year maximum.

See the house as your home, not an investment.

Edited September 23, 2013 by Khun Jean

[sitta]

Get a usufruct instead. Costs will be a few hundred baht and no taxes to be paid by your friend.

You can get a form for it at the land office.

Another added bonus is that it can be for live. So no 30 year maximum.

See the house as your home, not an investment.

So if do "usufruc" on his land and build a house, I can live in it as long as want without ever being ejected?

What is the form that I need for this please?

Thanks.

[Khun Jean]

You go to the land office and request to register a usufruct.

In Thai it is called สิทธิเก็บกิน . A standard form is available.

Go to translate.google.com and copy the above Thai text.

You can even get a pronunciation.

[asdecas]

See here: http://www.thailandlawonline.com/thai-real-estate-law/1417-1428-civil-law-right-of-usufruct

[nontabury]

Get a usufruct instead. Costs will be a few hundred baht and no taxes to be paid by your friend.

You can get a form for it at the land office.

Another added bonus is that it can be for live. So no 30 year maximum.

See the house as your home, not an investment.

What would be his position if he were to decide to move house, or to return to his own country, say in 15 yrs?.

[Bpuumike]

Get a usufruct instead. Costs will be a few hundred baht and no taxes to be paid by your friend.

You can get a form for it at the land office.

Another added bonus is that it can be for live. So no 30 year maximum.

See the house as your home, not an investment.

Exactly.

Never consider it as an investment but a comfortable home you want to live in.

If the mod gods allow, then I suggest isaanlawyers for sound advice.

[Khun Jean]

Get a usufruct instead. Costs will be a few hundred baht and no taxes to be paid by your friend.

You can get a form for it at the land office.

Another added bonus is that it can be for live. So no 30 year maximum.

See the house as your home, not an investment.

What would be his position if he were to decide to move house, or to return to his own country, say in 15 yrs?.

Selling the house would be difficult. Maybe a deal with the Thai owner can be made to make a new usufruct and share the money.

Another possibility is to rent out the house, max 3 years per contract.

Longer then that and you would need the consent of the owner, btw this is opposite what others believe, i rather base it on experiences then theory.

Basically, you need to get your worth out of the years you live in it. If it beats renting it is a good option.

Everyone has to evaluate that for their own circumstances and wishes.

If you have children, you can include them on a usufruct. This would in practice mean that they inherit your house and have access to it because they have a usufruct.

[sitta]

You go to the land office and request to register a usufruct.

In Thai it is called สิทธิเก็บกิน . A standard form is available.

Go to translate.google.com and copy the above Thai text.

You can even get a pronunciation.

Thanks for all the info guys;

btw; is it easy to fill the standard form from the land office and just this will do?

[Khun Jean]

Yes, thats all that is needed.

For your own peace of mind it is good to have everything translated, also the chanot and the back of it where the usufruct will be written.

Remember that the usufruct can be for live, so make sure it is not made for 30 years!

If you have relatives (children) who you would like to inherit your house make sure you include them on the usufruct.

Edited September 25, 2013 by Khun Jean

[sitta]

Just one more thing, the land is in "Nong Bua Lam Phu" so the Land office in Udon Thani, correct?