Buying a property and need a solicitor for lease - Recommendations wanted.

[neveroutgunned]

I'm currently in the process of buying a house in thailand using a third party Thai person (Yes, i know..). Wanting to protect my asset as much as I can this way, I'm after a reliable solicitor / law firm to get a 30 x 3 lease. Does anyone have any recommendations that they've used before? I've just had the one meeting so far and been quoted 20k for the lease. Not sure whether that's too high or the going rate for this sort of paperwork. Also, I've been told I'll be charged at the law office also for a % of the lease, can anyone confirm this? So any advice or recommendations welcome, feel free to share your experience with doing this if you have one. Thanks.

[stevenl]

No reliable lawyer will help you with a 30x3 year lease. 30 years is the legal maximum.

[NamKangMan]

No reliable lawyer will help you with a 30x3 year lease. 30 years is the legal maximum.

Agreed. The "x3" doesn't exist in Thai law.

Edited April 30, 2014 by NamKangMan

[neveroutgunned]

Ah right, ok. Thanks for the info. To expand upon that then, any experience with a standard 30 year lease?

[keestha]

A lease of more than 3 years has to be registered at the land office, and they will also make a note about the lease at the land paper (title). You can get a standard lease contract at any bookshop. The lawyers fee seems extremely stiff for something anybody who can read/write Thai can handle.in a few hours.

[eezergood]

Ah right, ok. Thanks for the info. To expand upon that then, any experience with a standard 30 year lease?

I suggest you read what is happening to Club med...... they have considerably more cash than you! and are essentially being drilled for more cash.

[NamKangMan]

Ah right, ok. Thanks for the info. To expand upon that then, any experience with a standard 30 year lease?

I suggest you read what is happening to Club med...... they have considerably more cash than you! and are essentially being drilled for more cash.

As many individuals will be "drilled for more cash" here in the near future when the Phuket property boom of the 80's starts to see these 30 year leases expire.

I suspect, everyone who has a ground floor building, with a 30 year land lease, due to expire soon, will not be renewed.

The air space is too valuable now.

Edited April 30, 2014 by NamKangMan

[falkan]

lease a house? why not setup a company and later down the road if you want to sell, it will be easier to find a buyer for the property!

[stevenl]

lease a house? why not setup a company and later down the road if you want to sell, it will be easier to find a buyer for the property!

Because, if the company is inactive, that is an illegal construction. And not only that, officials have in the past announced action on this construction.

[LivinginKata]

lease a house? why not setup a company and later down the road if you want to sell, it will be easier to find a buyer for the property!

Because, if the company is inactive, that is an illegal construction. And not only that, officials have in the past announced action on this construction.

I agree with Steven. For some years now the mechanism of forming a Thai company to hold your own home has been frowned upon by the authorities, indeed I believe it is illegal.

[nedkellylives]

lease a house? why not setup a company and later down the road if you want to sell, it will be easier to find a buyer for the property!

Because, if the company is inactive, that is an illegal construction. And not only that, officials have in the past announced action on this construction.

I agree with Steven. For some years now the mechanism of forming a Thai company to hold your own home has been frowned upon by the authorities, indeed I believe it is illegal.

Lots of things are illegal here but nothing is ever done about it and not likely to be done

I have never met anyone in business here who never does anything illegall and gets away with it

same,same

[eezergood]

lease a house? why not setup a company and later down the road if you want to sell, it will be easier to find a buyer for the property!

Because, if the company is inactive, that is an illegal construction. And not only that, officials have in the past announced action on this construction.

I agree with Steven. For some years now the mechanism of forming a Thai company to hold your own home has been frowned upon by the authorities, indeed I believe it is illegal.

BUt you there is nothing illegal about an active company that doesnt really make money......

[stevenl]

lease a house? why not setup a company and later down the road if you want to sell, it will be easier to find a buyer for the property!

Because, if the company is inactive, that is an illegal construction. And not only that, officials have in the past announced action on this construction.

I agree with Steven. For some years now the mechanism of forming a Thai company to hold your own home has been frowned upon by the authorities, indeed I believe it is illegal.

Lots of things are illegal here but nothing is ever done about it and not likely to be done

I have never met anyone in business here who never does anything illegall and gets away with it

same,same

Businesses get closed because they don't have the required licenses, people get arrested because they don't have workpermits, people get arrested because they don't have a valid visa.

And you want to build a future on something like that, because 'nothing is ever done about it'?

[nedkellylives]

Who cares not me, close down the company loophole and flood the market with foriegn owned houses, its not going to happen

Its already a buyers market but the sellers don't realize it is

If the price was right my wife would purchase one or two properties, money in the bank does not keep up with inflation, housing does

if you do not over pay for it, which the majority of foriegn buyers have been doing

[stevenl]

Who cares not me, close down the company loophole and flood the market with foriegn owned houses, its not going to happen

Its already a buyers market but the sellers don't realize it is

If the price was right my wife would purchase one or two properties, money in the bank does not keep up with inflation, housing does

if you do not over pay for it, which the majority of foriegn buyers have been doing

Fine, then don't make silly claims.

[nedkellylives]

Who cares not me, close down the company loophole and flood the market with foriegn owned houses, its not going to happen

Its already a buyers market but the sellers don't realize it is

If the price was right my wife would purchase one or two properties, money in the bank does not keep up with inflation, housing does

if you do not over pay for it, which the majority of foriegn buyers have been doing

Fine, then don't make silly claims.

What silly claims, i know of people who operate illigal taxi businesses, farangs transporting their clients/ customers

to and from the airport without employing a Thai driver and think people do not know, which is illegal as well

They will not close down the company owned house system in the near future if they do not bring in a better option

IF you think differently care to put your money where your mouth is in the form of a donation to a genuine charity if

either of us is wrong

[stevenl]

Who cares not me, close down the company loophole and flood the market with foriegn owned houses, its not going to happen

Its already a buyers market but the sellers don't realize it is

If the price was right my wife would purchase one or two properties, money in the bank does not keep up with inflation, housing does

if you do not over pay for it, which the majority of foriegn buyers have been doing

Fine, then don't make silly claims.

What silly claims,

Lots of things are illegal here but nothing is ever done about it and not likely to be done

I have never met anyone in business here who never does anything illegall and gets away with it

And that's the last thing I'm saying about it here, as usual it is heading off topic again.

[neveroutgunned]

Yeah, this topic can probably be closed. I think I have about as much info I can get from here. Thanks for the input.

[falkan]

lease a house? why not setup a company and later down the road if you want to sell, it will be easier to find a buyer for the property!

Because, if the company is inactive, that is an illegal construction. And not only that, officials have in the past announced action on this construction.

I agree with Steven. For some years now the mechanism of forming a Thai company to hold your own home has been frowned upon by the authorities, indeed I believe it is illegal.

hahah there been so much talk about cracking down but how many cases do we have??? not many right?! and btw i attended to a bigger business meeting last weekend in bkk with around 200 people expats/young entrepreneurs, and this question came up and there was a big smile in the audience!

[nedkellylives]

If i wanted to buy a property in my own name i would go the company way for sure and not worry what may or may not happen

in the future, things are not going to change

[falkan]

old farts make leases, not many years left anyway or in his wife name but young entrepreneurs go the company way

[NamKangMan]

Break the law and rely on the Thai authorities to not doing anything about it - sounds like a solid buiness plan to me.

One day, and who knows when that day will come, but one day, a lot of people are going to be left "holding the can" here.

[nedkellylives]

old farts make leases, not many years left anyway or in his wife name but young entrepreneurs go the company way

Are you talking about the young farts who borrow money from old farts at 5% interest a month

and leave a property title deed as security for the loan, Entrepreneurs who pay 60% interest per year borrowing

money to make money if they can , they could always go to the banks to borrow money if they had a Thai partner who's name the loan could go into

and they have property as security for that loan

[nedkellylives]

Break the law and rely on the Thai authorities to not doing anything about it - sounds like a solid buiness plan to me.

One day, and who knows when that day will come, but one day, a lot of people are going to be left "holding the can" here.

Something you do not have to worry about as you own nothing and act like other peoples opinions are your own

Googles your friend, accountants and lawyers are mine

[falkan]

old farts make leases, not many years left anyway or in his wife name but young entrepreneurs go the company way

Are you talking about the young farts who borrow money from old farts at 5% interest a month

and leave a property title deed as security for the loan, Entrepreneurs who pay 60% interest per year borrowing

money to make money if they can , they could always go to the banks to borrow money if they had a Thai partner who's name the loan could go into

and they have property as security for that loan

nope those young entrepreneurs who came here with a chunk of money with successful projects before aka cash buyers so head down to Thonglor and take a coffee at some trendy place and socialise or in phuket we find them at Jennys Bar in rawai haha..

[NamKangMan]

Break the law and rely on the Thai authorities to not doing anything about it - sounds like a solid buiness plan to me.

One day, and who knows when that day will come, but one day, a lot of people are going to be left "holding the can" here.

Something you do not have to worry about as you own nothing and act like other peoples opinions are your own

Googles your friend, accountants and lawyers are mine

With Thai accountants and lawyers as your "friends" - who needs enemies.

[falkan]

As has already been said under Thai law only 1 30 year lease can be recorded on the title deed but there has been several cases ( Hua Hin )were the land office has recorded 2 seperate 30 year options in addition to the original 30 year lease .

so after 30 years this guys lease got another 30 years for free already? or wait you mean they only wrote x2 on the chanote and now he need to wait 30 years to see if it will work =)?

[LivinginKata]

Time to clear out the off topic bickering. Time to get back onto the topic, thank you.