Still possible to buy in company name?

[BuffaloRescue]

I have an issue

I bought a condo in gf name.

Now i want to transfer it to my name, then ill sell it (we split up)

I dont have overseas money to buy it, since im not buying it anyway...

So what can i do? Can i put it into company name?

Shes overseas can i get a contract made in thailand for her to sell it to "my company".

I know ill have to pay the taxes twice. I just need something temporary so this can be done as fast as possible. Otherwise i was thinking there maybe some reputatble lawyers who could hold the condo for me, under contract and then sell it and give me the money

Any ideas? Thanks

Edited May 1, 2014 by BuffaloRescue

[davejones23]

Get ex-gf to sell it and give you the money. Seems like the simplest solution. If she won't do that, then will she agree to transfer to you? I don't understand why you need it in your name before selling it if she's agreed that you will have the money. But also wondering why you bought it in her name to begin with. Too many people making heir lives more complicated than they need to be.

[Delight]

Currently the Condo is in the Thai allocation . It can only be transferred if there is space in the 49% foreign allocation.

Given that there is no space -then follow the advice of davejones 23 and ask her to sell with your asisstance -then receive the money-

or put it in a Company name.

If you do the Company route then you will only incur one set of transfer fees.From her to the Company.

When it it finally sold no transfer fees are involved . You are simply selling a Company .

[ezzra]

Get ex-gf to sell it and give you the money. Seems like the simplest solution. If she won't do that, then will she agree to transfer to you? I don't understand why you need it in your name before selling it if she's agreed that you will have the money. But also wondering why you bought it in her name to begin with. Too many people making heir lives more complicated than they need to be.

"Get ex-gf to sell it and give you the money"... yeah.... that's will a very cold day in hell to see

money back from Ex's,,, however, one the unit is on her name you have no choice but to

hope that saints are looking over you and that you will get your money back from her.... good luck...

[Langsuan Man]

I have an issue

I bought a condo in gf name.

Now i want to transfer it to my name, then ill sell it (we split up)

I dont have overseas money to buy it, since im not buying it anyway...

So what can i do? Can i put it into company name?

Shes overseas can i get a contract made in thailand for her to sell it to "my company".

I know ill have to pay the taxes twice. I just need something temporary so this can be done as fast as possible. Otherwise i was thinking there maybe some reputatble lawyers who could hold the condo for me, under contract and then sell it and give me the money

Any ideas? Thanks

What proof do you have that "you" bought the condo if it is in her name ?

Putting it in your name without her agreement, even via the company route, is going to be impossible. Even if she did agree are you prepared to 1. pay for setting up the company, 2. paying the relevant taxes, 3.pay for the company to be legally closed (more expensive than setting it up initially) after the sale ?

All you can hope for is that she will help you sell her condo and give you the proceeds

Good luck since it sounds like you are really living up to your screen name

Edited May 2, 2014 by Langsuan Man

[JeremyBowskill]

Why do barn door and horses spring to mind here.........

[stigvinck]

Hi

I assume that she has already agreed to transfer it to you.
With or without the transaction of any money. That does not really matter.

And I assume that the reason why you want her name off the deed is so that you have no headaches should you get into an argumant later on.

If you realistically think you can sell it on quite quick then this might be a solution :

Have her sign a purchase and sale transaction with you. You as buyer, she as seller. Mention in the purchase and sale agreement a realistic price and also mention that the full amount has been paid to her upon signing the agreement. Have her sign a receipt for that amount (wether she actually gets that amount is of no importance).

Also mention in the agreement that you as buyer, have the right to appoint any 3rd person to buy this condo in stead of you, without needing the approval of the seller.

Get the title deed from her and have her sign 2 blank power of attorney forms to do the title transfer (you can get those from the land office). 2 because if you mess up one, then you still have the other one. You don't want to be going back to her at a later stage to ask her to sign more docs.

Tell her to give you 2 copies of her ID card and 2 copies of blue book (and certificate of name change, if applicable). All signed.

Once you have a real buyer, you can transfer the condo straight into the buyer's name without her having to do anything.

To make sure, check with the land office once she signs all docs and hands everything over to you. Make sure that the land office will accept all these docs as enough to transfer the deed alter on without her having to come back and sign any additional docs...

Not 100 percent sure if it works, but worth checking with the land office...

Good luck

Stig

[drand11]

If she is truly agreeing to transfer to your company...do it..and do it FAST.. before she changes her mind.

Its just legal paperwork and some fees. But don't give her to much time to change her mind.

Everyone else.. NEVER do this....85% of the time..you lose your cash!

Godbless this lady if she's honest and agrees to transfer.

[DLP]

I have always thought that the reason a farang buys a condo is so that he can have it in his own name.

I dont know one single farang that has a condo in a Thai g/fs name.

[ghworker2010]

yet another example of farang money ending up in thai pockets...

many members on this forum will tell you that you should have rented not buy

[falkan]

yet another example of farang money ending up in thai pockets...

many members on this forum will tell you that you should have rented not buy

why rent condo when you can buy it in your name..

[hhgz]

"I have an issue. I bought a condo in gf name."

The fact that she convinced you to do that indicates a very serious problem. Regardless, it's her condo, and there's nothing you can do.

[kratiam]

I have always thought that the reason a farang buys a condo is so that he can have it in his own name.

I dont know one single farang that has a condo in a Thai g/fs name.

Smart reply (not)....but absolutely nothing to do with the advice the poster wanted!

[BuffaloRescue]

Get ex-gf to sell it and give you the money. Seems like the simplest solution. If she won't do that, then will she agree to transfer to you? I don't understand why you need it in your name before selling it if she's agreed that you will have the money. But also wondering why you bought it in her name to begin with. Too many people making heir lives more complicated than they need to be.

Basically I want to control ownership before she changes her mind.

She lives in Australia and shes not available to sell it easily.

[Arkady]

I think you asked about leasing it in another thread. In the past some foreigners were pushed by estate agents to buy condos in company names after they had sold the 49% foreign portion. I think that in places like Phuket where nearly all the buyers are foreigners they now sell all units on a complex (and often dubious) leasing structure to avoid being stuck with the 49% stub.

In 2006 a letter was sent by the Interior Ministry to all Land Offices telling them to investigate thoroughly all applications to transfer property to companies with any foreign directors or shareholders. Previously the directive was only for companies with foreign shareholding over 40% which made it easy to do. If there is any foreign involvement they have to grill the Thai shareholders about the purpose of the company and investigate their sources of income. If the Thai shareholders cannot show their sources of income or do not know what business they plan to operate or why they set up a company with all their savings and want to purchase a property for a strange farang to live in as the company's sold asset, the Land Dept will decline to register the purchase. If you get past this, then you are stuck with the business of doing auditing accounts and filing for tax.