Wife wants a loan to pay off house - but I don't....

[Thaibelg]

Hi Folks,

My wife wants to get a loan with the bank, which she will pay off herself for buying a house/land. Which will ofcourse not belong to me.

What would happen in case of a divorce? Am I equally eligable to pay off the debt of my wife, eventough the house is not in my name and can never belong to a foreigner? We did not made a prenuptial agreement...

What about debt on credit cards after divorce?

Thanks for letting me know.

TB

[arthurwait]

Start packing your bags.

[weegee]

Start packing your bags.

hopefully, he hasn't unpacked yet ....,If you don't put your name on it, I don't think you CAN be held responsible for that debt.....ask a lawyer.

[SjaakNL2013]

Best and short is divorce. Then marry again and have in the marriage contract a side letter what says clearly what your assets and responsibilities are else you will be responsible for 50% repayment for something you can ' t own.

[thailiketoo]

Much brighter to buy with a loan than for you to buy the house outright. 30 year loan. How much are the payments?

[Soutpeel]

If your legally married and married in community of property, then one suspects you could the liable

If in the application of the bank loan, the bank requires the husbands signature, as well then you are definitely liable.

[crazykopite]

It will all end up in tears put your foot down and say NO to her idea .

[Falcon]

It seems you don't trust your wife very much, hence the question, am I liable if we divorce. Divorce would be the last thing in my mind if my wife spoke about getting a loan for a house but then we haven't all got a good relationship with those that we choose to marry I suppose. If you are legally married, you are both liable for 50% of everything, and, this includes money in the bank so either way it looks like you will be paying for the house one way or another should you divorce!

[monkeycountry]

Good question. Quite interesting if a foreigner can be held liable for a loan on an asset to which he has to sign off all rights. Would not surprise me though

[Thongkorn]

Good question. Quite interesting if a foreigner can be held liable for a loan on an asset to which he has to sign off all rights. Would not surprise me though

Living the dream < living the Dream.

[thailiketoo]

Forgive me for being dense but why no legal opinion on this topic? It seems a pretty straightforward legal question. What am I missing?

[flossiebear]

Go for it!

[brubakertx]

Don't do it!!!!!!!!!!!!!!!!!!!!!!!!!!!!

At my previous job, I knew a farang man who paid off the house loan. Then one day, he came home from work, and found his wife, and her ex thai boyfriend, and he threaten with a gun to kill him if came back to the house again. His wife already had bags packed.

He was broken hearted that is love of his life scammed him.

Is she an Issan lady?

[BritManToo]

If you don't co-sign the papers, they won't let her buy it.

(Particularly the ones at the land office)

[BritManToo]

It seems you don't trust your wife very much, hence the question, am I liable if we divorce. Divorce would be the last thing in my mind if my wife spoke about getting a loan for a house but then we haven't all got a good relationship with those that we choose to marry I suppose. If you are legally married, you are both liable for 50% of everything, and, this includes money in the bank so either way it looks like you will be paying for the house one way or another should you divorce!

With a 50%+ divorce rate on Thai/foreigner marriages, not thinking of divorce could seem a little foolish.

Not to do with trust, to do with statistics.

[thailiketoo]

If you don't co-sign the papers, they won't let her buy it.

(Particularly the ones at the land office)

My wife bought a house with a bank loan no problem. I signed nothing. We live in Thailand.

[Nemesis7]

The best thing will be ask a lawyer, get his professional advice, its THAILAND....afterall

[ggt]

Is this a happy marriage...or a financial arrangement?

[dutchman]

Why merry in the first place, who is benefitt the marriage and who will suffer by the mariage.

After a 3 year struggle with lawers in the past i would nt trust any female no more now for sure.

Look somebody els for marry, marry christmas.

Stay with me long time and we will see later how things turn out.

Anyway make sure they cant take you out by any change.

Keep master and controll of the situation always is my device.

[thailiketoo]

The best thing will be ask a lawyer, get his professional advice, its THAILAND....afterall

He did.

[culicine]

If your legally married and married in community of property, then one suspects you could the liable

If in the application of the bank loan, the bank requires the husbands signature, as well then you are definitely liable.

Even though you report to the Land Office that the money only comes from the wife? So you have no claim over the property, yet the farang is left with the bill even after divorce....TiT

[Estrada]

If your legally married and married in community of property, then one suspects you could the liable

If in the application of the bank loan, the bank requires the husbands signature, as well then you are definitely liable.

Be careful, especially if you don't read Thai. A German friend's wife asked him to sign a form printed in Thai that she said was for their son's school. He only found out when Bangkok Bank demanded that he repay them B6.5Million, that he had actually signed a form guaranteeing her loan in the purchase of a condo in Bang Saen!

[thailiketoo]

If your legally married and married in community of property, then one suspects you could the liable

If in the application of the bank loan, the bank requires the husbands signature, as well then you are definitely liable.

Be careful, especially if you don't read Thai. A German friend's wife asked him to sign a form printed in Thai that she said was for their son's school. He only found out when Bangkok Bank demanded that he repay them B6.5Million, that he had actually signed a form guaranteeing her loan in the purchase of a condo in Bang Saen!

Have you ever seen a document printed by Bangkok Bank in Thai?

[Toby Jugg]

Believe it or not Bangkok Bank has many forms printed in Thai !!!

I was asked to sign one that was not completed, which I refused.

After a little hassle the form was duly completed and with smiles

all around the job was completed. Try it.

TJ

[robert888d]

Once the house was paid up , after 12 years I was booted out!

[Lucifer]

It will all end up in tears put your foot down and say NO to her idea .

That boat sailed long before he asked for advice here.

[smotherb]

Is this a happy marriage...or a financial arrangement?

There's a difference . . . .

[Soutpeel]

If your legally married and married in community of property, then one suspects you could the liable

If in the application of the bank loan, the bank requires the husbands signature, as well then you are definitely liable.

Be careful, especially if you don't read Thai. A German friend's wife asked him to sign a form printed in Thai that she said was for their son's school. He only found out when Bangkok Bank demanded that he repay them B6.5Million, that he had actually signed a form guaranteeing her loan in the purchase of a condo in Bang Saen!

Although I am not calling BS on this story because I know strange things happen in Thailand, but I have personally co-signed a loan from SCB for Mrs S on a property she was buying and all parties signing on the loan documentation had to present in the branch of the bank during signing and although the bank already had copies of my WP/passport etc, I had to bring all the orginal documents with me again, and they did check my face, the photo in the PP and the photo on the WP were all the same person before I signed on the line...

Further, in the case of SCB, its not a single page document, it was about 1/4" thick, multiple pages, (all having the SCB logo), needed my signature and every page needed to be initialed, therefore based on my experience with SCB, I do find it a bit hard to believe the German was stitched up for 6.5 million because he signed a single form from BKK bank

[belg]

in case of a nasty divorce, there is always the option to pack up & go back home, right ?

you own nothing + you signed a paper you cannot claim things, even she dies

crazy country & people to buy houses and land in some you just met or even you married many years, it is still no blood & a stranger

house/land cannot be put on your children and even if you could, you need custody of a thai caretaker, that is not you

[BritManToo]

you own nothing + you signed a paper you cannot claim things, even she dies

None of the forms on offer waive your inheritance rights.

If she dies, you inherit.

house/land cannot be put on your children and even if you could, you need custody of a thai caretaker, that is not you

No laws preventing your children owning land, no laws preventing a foreign father being 'caretaker'.

Where do you get this stuff from?