30 Years Lease

[dddk]

Hello

I think 30 years lease is the maximum you can get if you purchase a house in your wife's name

Does anybody know the law forbidding 30 + 10 or 30+20 as I heard it is not allowed

Thanks

Edited June 2, 2006 by dddk

[fisherd3]

Hello

I think 30 years lease is the maximum you can get if you purchase a house in your wife's name

Does anybody know the law forbidding 30 + 10 or 30+20 as I heard it is not allowed

Thanks

I don't think you can register a lease at the land office longer than 30 years.

30 + 30 seems to be the product of the surprisingly fertile imagination of the probably Farang Estate Agent fraternity, in order to put Farang customers mind at rest (Oh Yeah!!!!you know what I mean?!), the additional 30 years is not, I believe contractually enforceable.

[Dragonman]

Hello

I think 30 years lease is the maximum you can get if you purchase a house in your wife's name

Does anybody know the law forbidding 30 + 10 or 30+20 as I heard it is not allowed

Thanks

The 30 year lease is the maximum permitted by law, and hence only this can be registered at the Land Office. Any "option" for a further 30 years is a contractual agreement between the current landowner and the person acquiring the lease. This option is allowed by law, but is only enforceable if the owner is the same after the 30 year period ends. You can imagine it is not difficult to relinquish ownership if you do not want the "option" to take place.

[Khun Jean]

If you are talking about the house, why not just put it in your name. No problem with that.

Any lease longer than 30 years will be considered 30 year. It is the current maximum.

As dragonman stated it will be easy to religuish ownership, which will certainly happen. Even if it is still the same owner and he is willing to extend it, what price do you think he will be asking. If the land is worth 2 million baht per rai now, imagine what it will be worth in 30 years. Be prepared to hand over a large sum of money after those 30 years. Nobody will be foolish enough to accept only a small amount because you leased it before.

Edited June 4, 2006 by Khun Jean

[stuxv]

If you are talking about the house, why not just put it in your name. No problem with that.

Any lease longer than 30 years will be considered 30 year. It is the current maximum.

As dragonman stated it will be easy to religuish ownership, which will certainly happen. Even if it is still the same owner and he is willing to extend it, what price do you think he will be asking. If the land is worth 2 million baht per rai now, imagine what it will be worth in 30 years. Be prepared to hand over a large sum of money after those 30 years. Nobody will be foolish enough to accept only a small amount because you leased it before.

I might be talking out of ignorance here but what happens after 30 years and the lease is up?

It is your house but on someone elses land. Can they make you rip it down?