Adding a foreigner as co-owner of condo on your Chanote

[thairookie]

If I own a condo in my sole name, and would now like to add my sibling as a co-owner. Is that possible ?

Do I have to pay taxes to Land Office to have my sibling as included as co-owner ? Of course, both of us are foreigners.

[mjef]

Excuse me, how do you have a condo in your sole name if you are a foreigner (just wondering)?

Sorry for not being able to help.

[iluvbeaches]

Not likely as you simultaneously have to show the funds came from abroad to satisfy the condo act requirements.

But if he/she transferred in the monies you could tell them you sold half of it and that should work though that likely won't be practical.

As for owning a condo as a foreigner just google condominium act which allows, if conditions are met, foreign nationals to register as owners to apartments.

[rhodie]

You may want to read this post.

http://www.thaivisa.com/forum/topic/638130-chanote-joint-ownership-possible/

Has some relevant information.

[overherebc]

Excuse me, how do you have a condo in your sole name if you are a foreigner (just wondering)?

Sorry for not being able to help.

Just the same as you can own a car a motorbike or even a house, but, in the case of the house you can't own the land. Medieaval in'it

[MMarlow]

Excuse me, how do you have a condo in your sole name if you are a foreigner (just wondering)?

Sorry for not being able to help.

Foreigners can own condos (subject to certain regulations). You're excused.

[umbanda]

Excuse me, how do you have a condo in your sole name if you are a foreigner (just wondering)?

Sorry for not being able to help.

A foreigner can buy a condo in its own name, not problem.....Cannot buy land, or a detached house in its own name, but can do it in partnership under a Thai corporation name.

[thairookie]

Not likely as you simultaneously have to show the funds came from abroad to satisfy the condo act requirements.

But if he/she transferred in the monies you could tell them you sold half of it and that should work though that likely won't be practical.

As for owning a condo as a foreigner just google condominium act which allows, if conditions are met, foreign nationals to register as owners to apartments.

The problem is I have funds in a bank in country 'A' which account is in my sole name. But I'd like to purchase a condo in Thailand in joint names with my sibling. My sibling and I do have a joint account in country 'B' which account was used to purchase condo in Thailand before. But now I do want to make use of the funds in country 'A', and if I make a transfer of funds from 'A' to 'B', and then subsequently from 'B' to Thailand, I will be making two remittances and will surely lose out in terms of exchange rates charged by the banks involved.

So I was thinking if I could just purchase the condo in my sole name and do a subsequent transfer to both of us. It's not a purchase, but like a "gift". I'm not sure if Thailand makes a distinction between co-ownership and joint ownership.

[iluvbeaches]

Not likely as you simultaneously have to show the funds came from abroad to satisfy the condo act requirements.

But if he/she transferred in the monies you could tell them you sold half of it and that should work though that likely won't be practical.

As for owning a condo as a foreigner just google condominium act which allows, if conditions are met, foreign nationals to register as owners to apartments.

The problem is I have funds in a bank in country 'A' which account is in my sole name. But I'd like to purchase a condo in Thailand in joint names with my sibling. My sibling and I do have a joint account in country 'B' which account was used to purchase condo in Thailand before. But now I do want to make use of the funds in country 'A', and if I make a transfer of funds from 'A' to 'B', and then subsequently from 'B' to Thailand, I will be making two remittances and will surely lose out in terms of exchange rates charged by the banks involved.

So I was thinking if I could just purchase the condo in my sole name and do a subsequent transfer to both of us. It's not a purchase, but like a "gift". I'm not sure if Thailand makes a distinction between co-ownership and joint ownership.

I know what you mean I'm just saying the land office won't allow you to put your siblings name on the title because the requirement is that you get the foreign exchange transfer certificate showing that the person brought the monies in. But I think if you set up a joint account in country A then it would be doable. Not sure though probably best to get a translator and go to the land office to find out for sure.