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[DonaldBattles]

The real answer is that the family of the wife can screw you badly or have you beat up and killed. YOU CAN NOT OWN ANY LAND IN THAILAND. The 30 year lease does not mean shit if her family wants to take the land. Don't get yourself killed.

[DeeMockMark]

The real answer is that the family of the wife can screw you badly or have you beat up and killed. YOU CAN NOT OWN ANY LAND IN THAILAND. The 30 year lease does not mean shit if her family wants to take the land. Don't get yourself killed.

I agree. If you have the land until your death and your wife (who I hope loves you and wishes you long life) pre-decease you.... then there are others that may not be so loving that would benefit from your quick or untimely demise. Correct?

[Suradit69]

OP: The URL below should guide you in the right direction. Note within the Section headed “Partly foreign owned Thai real estate holding company” it states:

“The foreign heirs as the actual owners by succession have the right to claim the company assets by legal action, but will have to sell the real estate involving land pursuant the Land Code Act within 1 year from the date of acquisition by inheritance”

http://www.samuiforsale.com/knowledge/inheritance-laws-thailand.html#3

Absolutely not true. You will still have 49%, sister being the closest relative will have 51%, you will never have more than 49% control over the land,

If i was you i would consult a lawyer immediately so that sister even with 51% of the company, does not have voting rights etc, so you can still control, and i mean immediately!

You can inherit anything in Thailand.

Why do people who know nothing, keep repeating the same old nonsense.

Incorect - as a foreigner you cannot inherit a leasehold condo for example. You cannot inherit the majority of a company either because of the 49% law

"You cannot inherit the majority of a company either because of the 49% law"

“The foreign heirs as the actual owners by succession have the right to claim the company assets by legal action, but will have to sell the real estate involving land pursuant the Land Code Act within 1 year from the date of acquisition by inheritance”

"Inherit" and "own forever" are not the same thing. Apparently under these conditions, he could "inherit," depending on wills etc., but would have one year to sell what was inherited because he could not continue to own more than 49%.

[shiatsuman]

Get yourself a usefruct costs only a few hundred baht and in the event that your wife dies before you then you still have the right to live in the house until you die, all legal and all above board with no need of dodgy shell companies and lawyers, very easy to do and only takes a couple of hours at the land office.....

have you got a link to download the blank usefruct form from ? many thanks

[mark131v]

http://www.samuiforsale.com/other-miscellaneous/usufruct-agreement-sample.html

There you go...!

[mark131v]

Get yourself a usefruct costs only a few hundred baht and in the event that your wife dies before you then you still have the right to live in the house until you die, all legal and all above board with no need of dodgy shell companies and lawyers, very easy to do and only takes a couple of hours at the land office.....

I finished doing this today. I have a lease on the house until I die, even though it is 100% in my wife's name. 2 channots both have my name on them, though not as owner. I had to get a translation from a solicitors office signed by me and the solicitor and wife stating that I understand the conditions. The lands office don't keep this, they only wanted to be sure that i understand. Costs were 75 Baht per channot.

It was explained that there were 2 options. [1] that I could get 30 years that COULD be transferred to my child if I died, and wanted that, until the 30 years event was reached, or [2] until I die, in which case the wife can sell or do whatever she want's then. We agreed on option 2, as I'm sure my Aussie kid won't need to holiday in Udon after I shuffle off this mortal coil.

Any break up of marriage means the house cannot be sold until I die, or agree to the sale, in which case, compensation can be agreed to, legally.

Keeping an eye out for any strange chemicals or other potential poisons that might suddenly appear from now.

I think you are wrong reference not being able to sell the house if you divorce, I was told that if you divorce the usufruct can be broken but that said you still have the same rights such as your entitlement to a fair settlement on the sale of goods exactly the same as anybody else Thai or Foreign who gets divorced here, getting that fair share could be an issue but that is the same anywhere else in the world as well. The only way around that appears to be by not getting the usufruct off your wife or doing it before you marry, I am no expert but all these sort of questions where covered in the earlier thread I mentioned and it is well worth a read

[uptheos]

If you own a condo, can it be willed with full rights to a relative residing abroad?

[lahgon29]

Get yourself a usefruct costs only a few hundred baht and in the event that your wife dies before you then you still have the right to live in the house until you die, all legal and all above board with no need of dodgy shell companies and lawyers, very easy to do and only takes a couple of hours at the land office.....

I finished doing this today. I have a lease on the house until I die, even though it is 100% in my wife's name. 2 channots both have my name on them, though not as owner. I had to get a translation from a solicitors office signed by me and the solicitor and wife stating that I understand the conditions. The lands office don't keep this, they only wanted to be sure that i understand. Costs were 75 Baht per channot.

It was explained that there were 2 options. [1] that I could get 30 years that COULD be transferred to my child if I died, and wanted that, until the 30 years event was reached, or [2] until I die, in which case the wife can sell or do whatever she want's then. We agreed on option 2, as I'm sure my Aussie kid won't need to holiday in Udon after I shuffle off this mortal coil.

Any break up of marriage means the house cannot be sold until I die, or agree to the sale, in which case, compensation can be agreed to, legally.

Keeping an eye out for any strange chemicals or other potential poisons that might suddenly appear from now. alt=rolleyes.gif width=20 height=20>

I think you are wrong reference not being able to sell the house if you divorce, I was told that if you divorce the usufruct can be broken but that said you still have the same rights such as your entitlement to a fair settlement on the sale of goods exactly the same as anybody else Thai or Foreign who gets divorced here, getting that fair share could be an issue but that is the same anywhere else in the world as well. The only way around that appears to be by not getting the usufruct off your wife or doing it before you marry, I am no expert but all these sort of questions where covered in the earlier thread I mentioned and it is well worth a read

I don't think I am wrong under the agreement. My [unregistered] wife, even according to her, cannot sell the house in the event of a breakup

Section 5 of our "Memorandum of Understanding Of The Right of Habitation [translation]" states "In case of the transferor agreeing to sell the land or property under section 1, during the period as indicated in this contract, the prior consent of the transferee shall be required" I assume that that means me, if we are together or not together.

Section 1 states that I have the right to "occupy a plot of land as identified by land certificate xxxxxxxxxxxxxx as a place of dwelling for a term of 30 years until and /or the transferee dies"

The lands office officer asked my wife several times if she understood that I had the final say over sale of the property for 30 years or until dead.

If I've been rorted in any way here, [And it wouldn't be the first time] I wouldn't mind a head's up on this..But it seems pretty plain to me from my experience today, that I'm safe for until death . break up or not.

She'll never leave me anyway...She told me so...She's Thai.

[Bpuumike]

The real answer is that the family of the wife can screw you badly or have you beat up and killed. YOU CAN NOT OWN ANY LAND IN THAILAND. The 30 year lease does not mean shit if her family wants to take the land. Don't get yourself killed.

I agree. If you have the land until your death and your wife (who I hope loves you and wishes you long life) pre-decease you.... then there are others that may not be so loving that would benefit from your quick or untimely demise. Correct?

My wife or her family would not be able to run or maintain our house.

In the event I predecease her she would inherit substantial assets from outside Thailand. She is also well aware I have some serious contacts and any suspicion over my death would negate her inheritance. She fully understands it is in her best interests to make sure I stay alive until I die naturally.

Well, I don't think it would arise with the wife but the rest of the family needed to be made aware.

[jimjel]

The answer is obvious:

1) Don't get married.

2) Don't buy any property.

3) Just rent a condo or house to avoid the pitfalls that come with financial/legal commitments in Thailand.

4) Keep it simple and enjoy all Thailand has to offer.

[ozyjon]

WE seem to think as (Westerners) we have a right to this and we have a right to that,, i have the paper telling me so, but in reality we are dealing with rice farmers and people who have never had 2 baht to scratch together and probably can't even read or right,, so when the time comes that their western partner starts handing out free money, then JACKPOT hits them,, no matter what rights you may think you have, in Thailand unless you are born there then -- you have no rights-- i have seen this over and over when the falang waves the deeds or receipts to i own this and i own that,, sir- you own nothing, the family will eventually get it all one way or another so get a grip pack your bags and go. Ask yourself whats 97% of nothing....

[dighambara]

If she has no will, you will own 73%.

24% will be divided among her closest relatives, kids if she has any, if not then parents, if not then full siblings, etc.

Absolutely not true. You will still have 49%, sister being the closest relative will have 51%, you will never have more than 49% control over the land,

If i was you i would consult a lawyer immediately so that sister even with 51% of the company, does not have voting rights etc, so you can still control, and i mean immediately!

You can inherit anything in Thailand.

Why do people who know nothing, keep repeating the same old nonsense.

YES and NO...

Once inherited, law applies, but if no one is curious, may sit dormant for some time. A friend inherited a house from his wife. To avoid the one year sale requirement, he confiscated the house papers and locked them away - no one investigated. WHen he remarried a few years later, his new wife became the new owner.

[kinmaew]

I actually cant belive people go into business with Thais to do anything. Got any money and need returns? Keep it in your own country in property investments then you own 100% of everyting and you dont have to pi** around with Thais and their laws which are designed for their benefit only not anyone who is non Thai and dont forget it!!

[FiftyTwo]

I don't think I am wrong under the agreement. My [unregistered] wife, even according to her, cannot sell the house in the event of a breakup

Section 5 of our "Memorandum of Understanding Of The Right of Habitation [translation]" states "In case of the transferor agreeing to sell the land or property under section 1, during the period as indicated in this contract, the prior consent of the transferee shall be required" I assume that that means me, if we are together or not together.

Section 1 states that I have the right to "occupy a plot of land as identified by land certificate xxxxxxxxxxxxxx as a place of dwelling for a term of 30 years until and /or the transferee dies"

The lands office officer asked my wife several times if she understood that I had the final say over sale of the property for 30 years or until dead.

If I've been rorted in any way here, [And it wouldn't be the first time] I wouldn't mind a head's up on this..But it seems pretty plain to me from my experience today, that I'm safe for until death . break up or not.

She'll never leave me anyway...She told me so...She's Thai.

The previous poster was talking about contracts between married people.

You aren't married so it isn't a problem.

[Arkady]

Get yourself a usefruct costs only a few hundred baht and in the event that your wife dies before you then you still have the right to live in the house until you die, all legal and all above board with no need of dodgy shell companies and lawyers, very easy to do and only takes a couple of hours at the land office.....

I am quite sure, if the Land Dept will allow a company to issue a usufruct agreement, particularly for nil consideration or a peppercorn rent. It would look like a transaction that would be very disadvantageous to minority shareholders. Even if they did, I think they would insist on it being signed by an authorised shareholder who is not related to you, owing to conflict interests.

If you want a usufruct, I think you would probably have to transfer to your wife first and get her to issue the usufruct. Selling to her would also require an unrelated authorised signatory.

Keeping the company structure, I would recommend that you have your wife make a proper will leaving her shares in the company to you for the avoidance of doubt. You should also line up an alternative nominee to transfer the shares to in this event.