Land Law Clarification

[ding]

property here often devalues not appreciates ( except as always prime location prime best quality build) – if you want to invest do it in best BKK locations not cheaper places and u have a chance – if its to live in buy second hand much cheaper <<<number6>>>

That was my intent, specifically central Sukhumvit. Second hand unit, and I plan to retire there. I'm 9+ years from retiring. Sounds like using property management to rent it out is a bad element to the idea, however. Bangkok seems like a world class city to me, but come to think of it -it has grown but not changed in the 13 years I've been coming here.

An alternste concern;

Is there a chance the window will close on farangs owning second floor up condos with a new gov't?

Edited September 21, 2006 by ding

[Dragonman]

why are we as foreigners...settling for 49% anyway...my wife can buy in the united states...100%..of land and house...stop buying in thailand until we can own 100%...just like thais can in the countries were from..i will not invest another dime here..until i can go to the land office myself..and deed the property in my own name...100%..i bought land and built a house here...now that i live here...my brother-in law does not want to register the land and house in my name...never,never again will i go through this....until they change the law...and sign an agreement with each foreign government first....we as foreigners need to have property rights the same as thais do in our countries...there are other countries that would love our foreign money..

I hope you're not suggesting that it is all on a level playing field for foreigners and American citizens to acquire land in The United States. There are a number of Federal and State Laws, particularly the Foreign Investment in Real Property Tax Act 1980 that make this not the case. Although of course there is no outright ban such as in Thailand.

Hi Dragonman:

I respect all of your activity on the boards and good advice. However, I respectfully disagree with you on this one. I think your use of the Foreign Investment in Real Property Tax Act (FIRPT) is misleading and inaccurate.

FIRPT was not intended to be a restriction on the transfer of real property by foreigners. Rather, FIRPT was intended to prevent foreigners from selling real property at a capital gain and then repatriating the money to their countries of origin without paying tax. In essence, it is a tax avoidance law rather than a law restricting the transfer of land by foreigners. The same thing happens if you hold securities, bonds, or other financial instruments at a brokerage and do not have a social security number (or the brokerage house does not have yours on file.) The brokerage house is required to withhold a certain percentage of any securities sold in your account.

In fact, it would probably be unconstitutional for any state or the federal government to pass such a law (restricting the transfer of land by foreigners) under the Due Process and Equal Protection clauses of the US Constitution. If there are other such laws or restrictions as you claim, please name them.

Hi Ralph. My comments were slightly "tongue in cheek", but my comments did not suggest restrictions, but that foreign investment is not on a "level playing field". It has been many years since my Florida lectures on International Property Law, and really this is not the place, but I am sure Realtors currently involved, such as www.henleyglobal.com/usarealestate.htm may be able to provide up to date info. With regard to the Fair Housing Act there are of course exemption clauses.

As an aside, as you are obviously interested in Housing Law, what do you feel about discrimination on moral grounds? Recent cases involving the restriction of ownership in areas due to non marriage by the residents.

[number6]

Who, in their right mind would sign over ownership to their Thai wife ,only to be thrown out shortly after! We all know of or heard of somebody who has been in this situation. All in my opinion

Weel i for one in fact 2 houses are in my thai wifes name and 2 condos which could have been legally in my name another 3 condos in my name and 1 condo in our 4 month old daughters name - well all my friends think im mad anyway so maybe they and u are right

AsI always say if you dont trust your wife why marry her anf if I get thrown out mie penrie I can then get another younger one and do it all again yippee

Anyway whatever at least nasty UK taxman aint getting 40% and 50% of my pension will go to my very young wife - cant take it with you you know

[thaigene2]

Who, in their right mind would sign over ownership to their Thai wife ,only to be thrown out shortly after! We all know of or heard of somebody who has been in this situation. All in my opinion

Weel i for one in fact 2 houses are in my thai wifes name and 2 condos which could have been legally in my name another 3 condos in my name and 1 condo in our 4 month old daughters name - well all my friends think im mad anyway so

I thought there was some minimum age for property ownership. No?

Also, I tend to agree with you about trusting your wife. But then again, many people aren't in the same financial situation as you. It's easier to say 'I trust you honey - here's a house in your name' when you either already own other properties like a condo or two, or have enough money that it won't really matter if she kicks you out..and keeps 'her' house. Quite a different matter if it's your life's savings required to buy a house that 'you' won't own. Chai Mai?

[number6]

Who, in their right mind would sign over ownership to their Thai wife ,only to be thrown out shortly after! We all know of or heard of somebody who has been in this situation. All in my opinion

Weel i for one in fact 2 houses are in my thai wifes name and 2 condos which could have been legally in my name another 3 condos in my name and 1 condo in our 4 month old daughters name - well all my friends think im mad anyway so

I thought there was some minimum age for property ownership. No?

Also, I tend to agree with you about trusting your wife. But then again, many people aren't in the same financial situation as you. It's easier to say 'I trust you honey - here's a house in your name' when you either already own other properties like a condo or two, or have enough money that it won't really matter if she kicks you out..and keeps 'her' house. Quite a different matter if it's your life's savings required to buy a house that 'you' won't own. Chai Mai?

good point and one everyone wise keeps saying dont put more here (id say any foreign country) than you can afford to walk away from - your crazy if you invest your life savings here or anywhere and remember if you married in UK your new wife would get 50% of anything probably more anyway

Yes here a child of any age can have a condo or if thai a house registered in his/her name but it cant be sold until child is 20 years old without a court order - basically as I understand it I and my thai wife control it until she is of age - different from uK law where we would be verry accoutable

but TIT - im not a legal expert but its registered in our daughters name but then i found it strange that my wife insisted she got family papers at 2 weeks old

[number6]

Also, I tend to agree with you about trusting your wife. But then again, many people aren't in the same financial situation as you. It's easier to say 'I trust you honey

Sorry footnote - i know plenty of expats here who are far richer than me and think its clever to

make sure their Thia wifes have nothing and get nothing if they split - to me thats not a

marriage - dont know what it is but they would be more honest just to pay a bar girl for her time -

I even know ex pats who have cihldren here live like kings and if anything happened to them

their wifes would have nothing at all - to me they are little more than scumbags - on other side I

pitty those who come here and are totally duped by love and the girls family - I care for my own and if their not worthy of my care then I walk away - sorry if that sounds arrogant