Condo versus House. Buying witouth legal risks

[JesseFrank]

deck.JPG

The cranes must be hiding

[KittenKong]

... the last thing on my mind is whether or not my house is legal or not

Those owning farang-name condos are probably content to know that their tenure is 100% legal and can never be questioned (short of revolution and changes to the law). They even have their own name on the chanote (transliterated) and can easily transfer the unit to another person at any time.

I would not care to put my money into any legal structure that was less clear, though good luck to those who do (they may need it).

[Langsuan Man]

deck.JPG

The cranes must be hiding

No, had to wait for cocktail time

[donx]

Although I haven't and currently don't plan on using a Thai company to purchase land (all "my" property is owned by my wife), I feel that for some this is the most attractive method for retaining control over a house on land in Thailand. I know many in the past have used this method but I was under the impression that it is very difficult if not impossible to use this method now.

I would be interested to hear if anyone has bought land/house recently via a Thai company. Langsuan Man, when did you buy your property?

[Langsuan Man]

Although I haven't and currently don't plan on using a Thai company to purchase land (all "my" property is owned by my wife), I feel that for some this is the most attractive method for retaining control over a house on land in Thailand. I know many in the past have used this method but I was under the impression that it is very difficult if not impossible to use this method now.

I would be interested to hear if anyone has bought land/house recently via a Thai company. Langsuan Man, when did you buy your property?

Two years ago, in a gated community.

But you have to understand how it works. The Thai lawyer I had purchased the land in his companies name, I then purchased the company from him and then changed company name, shareholders and made myself the managing director. Water had to be in the companies name, so that the water company could charge me more for water (the commercial rate), electric in company name (residential rate), but phone and cable in my name

Developer would not sell via a Usufruct and I was not about to put it in my Thai girlfriend's name. IF I should marry her in the future I can always close the company, gift the property to her and obtain a usufruct from her before registering the marriage

[ExpatOilWorker]

Although I haven't and currently don't plan on using a Thai company to purchase land (all "my" property is owned by my wife), I feel that for some this is the most attractive method for retaining control over a house on land in Thailand. I know many in the past have used this method but I was under the impression that it is very difficult if not impossible to use this method now.

I would be interested to hear if anyone has bought land/house recently via a Thai company. Langsuan Man, when did you buy your property?

Two years ago, in a gated community.

But you have to understand how it works. The Thai lawyer I had purchased the land in his companies name, I then purchased the company from him and then changed company name, shareholders and made myself the managing director. Water had to be in the companies name, so that the water company could charge me more for water (the commercial rate), electric in company name (residential rate), but phone and cable in my name

Developer would not sell via a Usufruct and I was not about to put it in my Thai girlfriend's name. IF I should marry her in the future I can always close the company, gift the property to her and obtain a usufruct from her before registering the marriage

It the water/electricity really an issue?

I bought a condo 10 years ago, the electricity is in the previous owners name, the 02 phone also, water....not sure, never checked, my True Internet is in an ex-gf's name. Only my mobile phone is in my name. I just pay the bills, and nobody seems to care.

[Langsuan Man]

No, no issue, just wanted to give donex a complete answer.

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[noodle]

 

deck.JPG

 

Looks like the perfect setting for a rather tall and wide condo:)

[Langsuan Man]

 

deck.JPG

 

Looks like the perfect setting for a rather tall and wide condo:)

Not unless the State Railroad Authority of Thailand is going to sell their right of way !

[vadimbz]

I've been thinking about the company route. All the sources on the matter state something like "opening a company for the sole purpose of land ownership is illegal", so it's quite simple, make it work for at least one other purpose, open very small hands-off business, and channel it through your Thai company.

Problem solved.

There are lots of semi-passive ways to do business online — from affilate marketing of cameras (or porn sites) to reselling of virtual private servers. If you are the offline kind of guy, you can still do some offline thing. Retired and love BBQ? Open steakhouse on your backyard (my neighbour in Piman Thani have done that). Your wife stays home, and takes care of kids while you work? Open organic ice tea shop for her in front of your gate (tea doesn't actually have to be organic... or tea). Retired M.D. in Psychiatry? How about paid support group for badly burnt farang?

None of these will bring considerable money, but it can be fun, and you will become a law-abiding alien again.

Edited March 27, 2014 by vadimbz

[Langsuan Man]

Please quote and report all these sources ?

Even today a poster asked the "Ask the lawyer" forum what to do if his wife died and left him their house and the answer was to from a company to purchase the house

If you are a foreigner and inherit land from an estate then you will be required by law to sell that property within 180 days, this is because a foreigner cannot own land in Thailand.

You do have the option to set up a company with which you will use to purchase the land, thus you will own the land through the company which is under your name.

http://www.thaivisa.com/forum/topic/713871-leaving-the-house-to-me-in-her-will/

[vadimbz]

http://www.legavox.fr/blog/vincent-birot/foreign-ownership-land-thailand-12594.htm

http://www.thailandguru.com/thailand-property-ownership-laws-house-land-condominium.html

http://www.khanomtopproperty.com/khanomTOPproperty.com/FAQ.html

Quick Google search. I agree that the company is the optimal option, but only if you can perform genuine auditable activity through this company.

Otherwise you'll probably still get away with it, but your sleeping patterns might deteriorate.

[philliphn]

I've been thinking about the company route. All the sources on the matter state something like "opening a company for the sole purpose of land ownership is illegal", so it's quite simple, make it work for at least one other purpose, open very small hands-off business, and channel it through your Thai company.

Problem solved.

There are lots of semi-passive ways to do business online — from affilate marketing of cameras (or porn sites) to reselling of virtual private servers. If you are the offline kind of guy, you can still do some offline thing. Retired and love BBQ? Open steakhouse on your backyard (my neighbour in Piman Thani have done that). Your wife stays home, and takes care of kids while you work? Open organic ice tea shop for her in front of your gate (tea doesn't actually have to be organic... or tea). Retired M.D. in Psychiatry? How about paid support group for badly burnt farang?

None of these will bring considerable money, but it can be fun, and you will become a law-abiding alien again.

I hear the problem is with a non performing company/no income!