house and land in childs name

[salavan]

hi just wondered if anyone on this forum that has paid/bought a house with land in their childs name on the chanote and has built an additional house on that land or has leased all or part of it out on short term rental.

the reason im asking is that im interested in buying in the girlfriends name with my child as the owner when she reaches the age of 20, i would like to rent part of the property out and maybe build another house on the land

i have been to see several lawyers all of which give different answers (talk about the land of smoke and mirrors)

[Daffy D]

There was an answer to something like this from Ask the Lawyer not long ago.

If I remember right you can build on the land but not rent out. Anything that needs the child's signature, like getting a mortgage on the land, will have to be approved by the courts.

[Arkady]

This has come up quite often. A child can own land but cannot apply for planning permission to build anything on it. Selling the land would require a court's permission, as would a long-term lease or usufruct agreement. No guarantee of getting court permission and it would involve a lot of time, hassle and expense. So, it makes sense, if you don't plan to do anything with the land before the child is 20 or wait till she is 20, as you suggest, to do the transfer.

You didn't mention if your gf is the child's mother. If not, any transfer from gf to your daughter would involve payment of full tax. For transfers between close family members there are provisions that allow much lower tax.

[PattayaPhom]

The parent can be granted a building permit. Providing you only rent/lease for a period of upto 3 years it is Ok.

[innerspace]

Im talking out of ideas rather than experience on this matter but how about issuing a 20 year usurfuct to yourself first and then moving land to the child.

In theory should give you control with the benefits of in your childs name.

Actually transfering the land twice would double certain taxes but if you can convince the current owner to give you the usurfuct prior to selling to your kid you may beat that.

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

[beammeup]

I am also very interested in doing this, So usufruct from current owner then transfer to Thai kids name? Is Usufruct same as lease? Obviousely need a Lawyer throught his operation, Sounds like it might work.

[beammeup]

OK looks like it wouldnt work as the owner can not sell the land once the contract is in place. I guess the kids can not enter into a contract with me either so, unless someone knows otherwise I can purchase the land put it in the kids names and once they are 20 I will be at their mercy?

[beammeup]

Sorry if I am steeling this thread but I think this info would be relevent to the OP. Does anyone know if its possible to lease the land for 30 years then, transfer ownership to kids? I dont think Usufruct will work.,

[Arkady]

I think it should be possible to lease or usufruct land to yourself while it is in the name of an adult, e.g. your gf or wife, and then transfer the land to a child with the lease or usufruct obligation still intact.

[beammeup]

I dont think it is possible to transfer ownership of land if it has a Usufruct on it but I think it can be done with a 30 year lease, I am going to try it in a few weeks. The current owners are willing to sell us the land and put it in the kids names but I havent presented them with the idea of the lease first. I am wondering how I would go about it in the most cost effective way. Can you lease land for 1 bt? I presume you would have to pay a % tax on the presumed value?

[Canada]

My understanding of usufruct is that wifey could sell the land, but nobody would want it with an usufruct registered on it. So I think it would be possible to that.

hmmm.

The usufruct agreement is between her and I. How could she still honour the agreement if she sold the land? I'm not so sure now. Any clarification on this?

[beammeup]

I have read that the land can not be sold if there is a Usufruct registered on it. But if you are maried any contract you have with your wife (like a Usufruct) can be cancelled by her on a divorce.

[MusV]

Dear members

I have enriched me as a silent reader here know quite a few times with and thank you for it. Today I also don t fall into a concern to you , which is actually known, and because of the different handling in the District just yet .

My wife agrees with me and is willing to sign all the necessary papers .

The situation is , we want to buy a house with land in Nong Kai , in the name of our daughter ( 2.6 year ) , we are not married and know, it is not possible because of the daughters age. Now we thought that we want solve the situation with an usfruct between the mother and father and last will from mother and father, daughter too ... and other required documents ? Our daughter should become in any case the owner at the end and the father Lifetime housing right.

How exactly is that going , someone has experience in this matter?

We thought ...

- Buy hlouse and Land with mothers sign as Parental control for daughter and used as asset manager ( without a sale authorization ) of the daughter.

- Last Will daughter ( in your case of death , the house goes to the Father ) ... no idea how this has to work (father and mother agreement?)

- Last will nut ( in your case of death , the house goes to the Father )

- Last will father ( in his death , the house goes to the daughter)

... To solve problem. False? Sorry I forgot. We read that a foreigner can become owner troughtrue a last will. Correct?

Does someone has the same situation and how does he manage it. Thanks for all ...to all (... my bad english ...)

Edited April 15, 2014 by MusV