Gated housing estates/communities 'moobahn'

[Puccini]

How does the one go about getting a "usufruct"? Is this life time or 30 years?

A usufruct is valid for the period of time stated in the usufruct contract.

[Zodaka]

the definition of a condo is clear in the condominium act and let's just say that if anyone truth is trying to sell a'horizontal' condo, its a scam. if so, let me guess, is it situated along the coast towards Hua Hun? Is it developed by a foreigner? Been a few scams over the years there mostly by small time foreign property developers although all has been quiet over the past couple of years.

[SDM0712]

In fact, as a non-Thai, if you are willing to invest 40 MB in Thai government bonds you may own (in the western accepted definition of the word) up to one rai of land. I know few will do this, but it is the only exception that I am aware of.[/b]

What is not mentioned, it has to be signed off by a gov't minister.

In all the years I have been here and reading TV no one has ever known anyone or knows of anyone who has been able to take advantage of this.

May be a good time to ask the question again, does anyone know of anyone who has been able to buy land this way?

Apologies I did fail to mention that a government minister would have to sign this off, and as an Estate Agent this is quite remiss of me.

But to answer your question I have never heard of such a case and never expect to.

SDM

[Puccini]

How does the one go about getting a "usufruct"? Is this life time or 30 years?

usufruct = life.

usufruct does not mean life.

usus (Latin) = use

fructus (Latin) = fruit

usufruct (legal term) = the legal right of using and enjoying the fruits or profits of something belonging to another

Source: www.merriam-webster.com/dictionary/usufruct

usufruct (legal term) = A Civil Law term referring to the right of one individual to use and enjoy the property of another, provided its substance is neither impaired nor altered.

Source: legal-dictionary.thefreedictionary.com/usufruct

[impulse]

Every few years this comes up,

..........................

May be a good time to ask the question again, does anyone know of anyone who has been able to buy land this way?

Once again, the question isn't about "buying land". The question is whether there is a vehicle for me to use a piece of land as I see fit, to sell that right when I want to, and to pass that right on when I die. Whether I own the land or not is not so material to me.

I've seen dozens of threads mentioning that I can get a 30 year lease, or a lifetime usufruct on a piece of land, and build a structure on that land. I can own the structure, but I can't own that land.

Seems like a reasonable hop to lease a chunk of land on a golf course (for example) for 30 years with the right to extend the lease written into the contract. If I decide to leave Thailand, can I then sell that lease onto someone else? If I die, do the benefits of my lease pass to my heirs?

I'd be much more comfortable in such an arrangement where I know the long term plans for the area (golf course is an example), and there is an association of a bunch of us who get some say into how the property (that we don't own) is maintained, how often they pick up the trash, that the lot next door won't be used for a bordello, etc. For me, that rules out leasing an acre from Farmer Joe, no matter how nice the guy is.

I'd be even more comfortable with the arrangement if I also owned some shares in the entity that legally owns the land. Once again, in the golf course example, that would mean I would own voting shares in the development- and the management of the development would be controlled by an association of shareholders like myself- over 50% of which would be Thais. That way, I would also participate in any appreciation of the value of that investment.

So far, none of what I am pondering above seems illegal, or even a skirting of the law. I get the use of a plot on a golf course, I can build a home on it, and I can sell my rights and that home if I choose. Whether I "own" the land isn't that important to me.

Aliep seems to indicate this is an acceptable legal structure, but I'd be interested in other opinions and experiences.

BTW, I don't really have a desire to live on a golf course, but use it just for an example that most folks would understand. Put the same idea on a lakefront development with decent fishing, and I'm in.

Edited December 24, 2013 by impulse

[aliep]

_{Regarding a horizontal condo and the walls touching, I don't know how many walls must touch, maybe only one? I did own a condo in Pattaya where only the floor and ceiling touched another condo unit. I know they have to touch, because this was my first choice for developing a 9 Rai plot of land into a luxury 6 plot housing development.}

_{The condominium Act is a useful piece of legislation that would have been nice to use, not least because Thai buyers could then get mortgages. However, I had to settle for a limited company with 3 foreign shareholders (totalling 49%) and 3 Thai shareholders (totalling 51%). All are directors of the company and all have an equal vote (shareholders can be children, though directors cannot). In my case there was another advantage, in the middle of the plot is a 4 Rai lake, it would have been amusing to see the land office try to put Chanote marker posts in the middle of a 4 metre deep lake!}

[Maestro]

Removed a troll post.