evenstevens Posted May 24, 2014 Share Posted May 24, 2014 and a nice morning to all the scenario is as follows... off the plan condo,same size unit, same floor,same layout etc etc not a investment buy ,but residence , long term what is best for finiancal gain say over a 3 to 5 yr timeframe perhaps more,thai or farung title deed??????? i am suspecting farung title deed any input is always greatly appreciated Link to comment Share on other sites More sharing options...
Dante99 Posted May 24, 2014 Share Posted May 24, 2014 Japanese or Korean title deeds are best. Link to comment Share on other sites More sharing options...
northernjohn Posted May 24, 2014 Share Posted May 24, 2014 If it is for a home to live in long term don't worry about it. What ever it is there is always the possibility that in the long run it will change. Look at it this way what would the seller be making the most out of it if he had used one of the terms. Compare it to the other one. 1 Link to comment Share on other sites More sharing options...
noise Posted May 25, 2014 Share Posted May 25, 2014 I am confused by the question. I would say the market determines price when reselling, plus the condition of the condo, if there is a valid title. Unless you think a Thai/expat buyer would refuse to buy from an expat/Thai, why do you think the name on the title would affect the selling price ? 1 Link to comment Share on other sites More sharing options...
mesquite Posted May 25, 2014 Share Posted May 25, 2014 Baron Von Rothschild said, "The time to buy is when blood runs in the streets." We may be getting close. 1 Link to comment Share on other sites More sharing options...
evenstevens Posted May 25, 2014 Author Share Posted May 25, 2014 thks fellas,your comments are very mutch appreciated what i was trying to get at, is as follows if the condo ownership ratio of 51% thais/49%farungs is taken up the thai title deed holders are restricted to selling to their fellow countryman,(as the farung ratio is full)where the farung title deed owners still have the option to sell either way,thai or fellow farung its a bit of a delicate opening post,and i can be corrected, just fire away Link to comment Share on other sites More sharing options...
Dante99 Posted May 25, 2014 Share Posted May 25, 2014 So what is the question? Clearly the faring title deed gives more flexibility for a sale. Also clearly if you are buying for a long term residence, it would make no sense to have the deed in another person's name. Link to comment Share on other sites More sharing options...
NancyL Posted May 25, 2014 Share Posted May 25, 2014 (edited) I think what he's asking is if the situation ever arises where a condo building gets to the point that it has 49% foreign ownership and thus it's impossible for an Thai current owner to sell to anyone other than a Thai person? Note to OP: it's my understanding that the rule applies to ALL foreign owners, not just white people. Please someone correct me if Chinese, Korean, Japanese, etc are somehow considered to be Thai in the counting of Thai vs. foreign ownership of the units in building. In general, if the unit is to be held long-term as a personal residence then it would make sense for the condo to be in the name of the person who will reside in the residence. The only factor I can think would make a difference would be estate planning issues. Edited May 25, 2014 by NancyL 1 Link to comment Share on other sites More sharing options...
evenstevens Posted May 25, 2014 Author Share Posted May 25, 2014 I think what he's asking is if the situation ever arises where a condo building gets to the point that it has 49% foreign ownership and thus it's impossible for an Thai current owner to sell to anyone other than a Thai person? Note to OP: it's my understanding that the rule applies to ALL foreign owners, not just white people. Please someone correct me if Chinese, Korean, Japanese, etc are somehow considered to be Thai in the counting of Thai vs. foreign ownership of the units in building. In general, if the unit is to be held long-term as a personal residence then it would make sense for the condo to be in the name of the person who will reside in the residence. The only factor I can think would make a difference would be estate planning issues. first paragraph correct second paragraph..farungs are aliens in the condo act 2008,perhaps i should have used that term third paragraph...i wish for personal reasons to have it in a thai name, thks for your input Link to comment Share on other sites More sharing options...
evenstevens Posted May 25, 2014 Author Share Posted May 25, 2014 So what is the question? Clearly the faring title deed gives more flexibility for a sale. Also clearly if you are buying for a long term residence, it would make no sense to have the deed in another person's name. so what is the question you ask????your second line answered it to a degree your last line .... i have just replied to a another member on this thread,thai ownership is for personal reasons,we do all have different agendas u know last week had a drink with butch and sundance,with the hole in the wall gang ,see that its still status quao have a nice day Link to comment Share on other sites More sharing options...
NancyL Posted May 25, 2014 Share Posted May 25, 2014 (edited) Why not start another thread asking if anyone knows of any condo building that have gotten to the point where they're 51% Thai/49% "alien" owners and thus the Thai owners are restricted in being able to only to other Thais? Come to think about it, I've heard there are some of the older buildings (in good locations) where this has happened, but I can't speak from first-hand knowledge. That's the real question here, isn't it? Not whether or not it's a good idea to buy a condo for someone besides yourself. You've already made up your mind about that. You just want to consider how easy it's going to be to sell that condo down the road. Edited May 25, 2014 by NancyL Link to comment Share on other sites More sharing options...
mesquite Posted May 25, 2014 Share Posted May 25, 2014 Evenstevens, At the risk of opening a can of worms, I will offer the following: I have been told that if the percentage of foreigners is too high, one can use the business ploy to buy the condo where you are the director of the company and the company owns the condo. If/when the percentage of foreign owners drops below 49%, you can put it in your own name. This was told to me recently in Pattaya and I realize we are talking about Chiang Mai. I am just saying it would be worth investigating. Link to comment Share on other sites More sharing options...
northernjohn Posted May 25, 2014 Share Posted May 25, 2014 I don't understand the problem if the condos are owned by 49% of farongs no matter what your title says you would still not be allowed to sell to a farongs. On the other hand if you are buying and the condos are owned by 49% of farongs you could buy it easily in a Thai name. Seems to me the only difference is purchasing it when certain conditions apply. Link to comment Share on other sites More sharing options...
hml367 Posted May 25, 2014 Share Posted May 25, 2014 I don't understand the problem if the condos are owned by 49% of farongs no matter what your title says you would still not be allowed to sell to a farongs. On the other hand if you are buying and the condos are owned by 49% of farongs you could buy it easily in a Thai name. Seems to me the only difference is purchasing it when certain conditions apply. If the condos are owned by 49% foreigners and the title of his unit is in his name as a foreigner, wouldn't the person selling to another foreigner still leave the ration at 49/51? I am referring to "him" as a generic term. Link to comment Share on other sites More sharing options...
evenstevens Posted May 25, 2014 Author Share Posted May 25, 2014 Why not start another thread asking if anyone knows of any condo building that have gotten to the point where they're 51% Thai/49% "alien" owners and thus the Thai owners are restricted in being able to only to other Thais? Come to think about it, I've heard there are some of the older buildings (in good locations) where this has happened, but I can't speak from first-hand knowledge. That's the real question here, isn't it? Not whether or not it's a good idea to buy a condo for someone besides yourself. You've already made up your mind about that. You just want to consider how easy it's going to be to sell that condo down the road. great post nancy,u really have got to the heart of my o/post ,and the great one,mesquite with the very astute northern john,plus the very knowlegble hl367 have kicked the can down the right alley with out opening a new thread,wheres the mighty one eyecatcher ???and the tower of strength on the c/mai condos scene,the one and only chiangmai ???,and it would be remiss of me nancy,not to mentioned of u , giving the kyberpass to the other channell you are highly respected on t/v,stay here its a great life,if u dont weaken,have a nice afternoon or early evening to all Link to comment Share on other sites More sharing options...
Spoonman Posted May 25, 2014 Share Posted May 25, 2014 Depends on who is buying it from you when you sell. A friend just sold his house (owned in a company name) and he was 1 million baht better off selling to a Farang than a Thai. Link to comment Share on other sites More sharing options...
eyecatcher Posted May 25, 2014 Share Posted May 25, 2014 I think it was a fellow member here telling me the new condos purposely have a floor, or a number of tiny condos that they will never sell to Thais, simply so they can get 100% occupancy by farang......as as a consequence, mark up the price vastly to cover the empty units/floors. The condo ends up with only farang, occupying half the building. Did I read on here last week, someone said the owner of Hillside 4, owns the top floor......now something is ringing true. Easy to achieve if the % is based on units and not area isn't it? I don't think Thais would want to live amongst us anyway OP. Link to comment Share on other sites More sharing options...
Spoonman Posted May 25, 2014 Share Posted May 25, 2014 I think it was a fellow member here telling me the new condos purposely have a floor, or a number of tiny condos that they will never sell to Thais, simply so they can get 100% occupancy by farang......as as a consequence, mark up the price vastly to cover the empty units/floors. The condo ends up with only farang, occupying half the building. Did I read on here last week, someone said the owner of Hillside 4, owns the top floor......now something is ringing true. Easy to achieve if the % is based on units and not area isn't it? I don't think Thais would want to live amongst us anyway OP. By law they can only sell 49% in Farang name, the 51% has to be in a Thai name (or a company name I guess). Link to comment Share on other sites More sharing options...
eyecatcher Posted May 25, 2014 Share Posted May 25, 2014 Not sure you appreciated the loophole. So is it 49% of the number of units or 49% of the floor area. There is/can be a whopping difference. Why is why they could build a condo with 49 luxury penthouse pads and 51 bedsits.....owned by the original developer......but why try to sell them again when he made his money on the penthouse pads....unless he is very greedy. Link to comment Share on other sites More sharing options...
Spoonman Posted May 25, 2014 Share Posted May 25, 2014 (edited) it is 49% of the residences hence the Thai qouta's are usually smaller so that they are more affordable to them......saying that I know a few farangs that have purchased "condo's" that are only just bigger than my toilet. Edited May 25, 2014 by Spoonman Link to comment Share on other sites More sharing options...
northernjohn Posted May 25, 2014 Share Posted May 25, 2014 I don't understand the problem if the condos are owned by 49% of farongs no matter what your title says you would still not be allowed to sell to a farongs. On the other hand if you are buying and the condos are owned by 49% of farongs you could buy it easily in a Thai name. Seems to me the only difference is purchasing it when certain conditions apply. If the condos are owned by 49% foreigners and the title of his unit is in his name as a foreigner, wouldn't the person selling to another foreigner still leave the ration at 49/51? I am referring to "him" as a generic term. Good point. That would really leave no difference weather it was a Thai or a forang ownership. On that basis what is them difference who he would put on the title except the paper work might be easier for the Thai who is purchasing it. I am reasonably sure that if it is a Thai title it will require a Thai name. But who knows? It could be any thing. Link to comment Share on other sites More sharing options...
northernjohn Posted May 25, 2014 Share Posted May 25, 2014 Not sure you appreciated the loophole. So is it 49% of the number of units or 49% of the floor area. There is/can be a whopping difference. Why is why they could build a condo with 49 luxury penthouse pads and 51 bedsits.....owned by the original developer......but why try to sell them again when he made his money on the penthouse pads....unless he is very greedy. Your not even making sense now. Why build two units at a higher price than one when you can't sell the two because they are to small but you can't sell when you can build one for less money that will sell. Maybe you are associating with high class Thais most of the ones I know have no problems with smaller homes. I really don't think the developers deliberately build unsalable units just because some farongs might come along and buy all 49% of the high priced ones. Link to comment Share on other sites More sharing options...
hml367 Posted May 26, 2014 Share Posted May 26, 2014 (edited) HelloJohn, Check your math: If the OP titles the unit in a foreigner name and the ratio is 49/51, then the unit could be sold to either foreigner or Thai and the ratio remains the same. If the OP title the unit in a Thai name, and the ratio, for any reason, becomes 49/51, the unit could only be sold into a Thai name. It would seem to me that if the OP put the title into a foreign name, then no matter what, should the OP decide to sell, the unit could be sold to either foreigner or Thai. This is not a derogatory remark towards you, as you often think, but your thoughts are often myopic. Edited May 26, 2014 by hml367 Link to comment Share on other sites More sharing options...
Oscar2 Posted May 26, 2014 Share Posted May 26, 2014 second paragraph..farungs are aliens in the condo act 2008,perhaps i should have used that term third paragraph...i wish for personal reasons to have it in a thai name, re: paragraph 3. it may be for "personal reasons" but makes no sense at all if you are the one buying a place to live in yourself. Link to comment Share on other sites More sharing options...
northernjohn Posted May 26, 2014 Share Posted May 26, 2014 HelloJohn, Check your math: If the OP titles the unit in a foreigner name and the ratio is 49/51, then the unit could be sold to either foreigner or Thai and the ratio remains the same. If the OP title the unit in a Thai name, and the ratio, for any reason, becomes 49/51, the unit could only be sold into a Thai name. It would seem to me that if the OP put the title into a foreign name, then no matter what, should the OP decide to sell, the unit could be sold to either foreigner or Thai. This is not a derogatory remark towards you, as you often think, but your thoughts are often myopic. I see what you mean now. If it is already in a foreigner name it would not add to the foreign residency selling to another foreigner just change the name on the list of foreign owners. In such a case even though I would buy it with no plans of moving I would put it in my name just in case. I always like to leave my options open. You only took one cheap shot at me not a bunch of them. If it wasn't at me it was at tuck tuck drivers which you denied it was. Link to comment Share on other sites More sharing options...
evenstevens Posted May 26, 2014 Author Share Posted May 26, 2014 second paragraph..farungs are aliens in the condo act 2008,perhaps i should have used that term third paragraph...i wish for personal reasons to have it in a thai name, re: paragraph 3. it may be for "personal reasons" but makes no sense at all if you are the one buying a place to live in yourself. ^^^^^^^ why be so hung up ????? its my personal choice , not yours, is it??? be best for all concerned to keep your comments to the opening post ,and not invading into my personal decisions or choices,without being asked,a bit rude me thinks, a nice afternoon to all Link to comment Share on other sites More sharing options...
NancyL Posted May 26, 2014 Share Posted May 26, 2014 (edited) The OP has made it quite clear it is his preference that the unit be titled in the name of a Thai person, even though he plans to use it as his personal residence. That's his decision and while many can't understand why, there are good reasons why this may make sense. Estate planning is a logical reason. But, it's not our place to pry. It may strike some as odd, including me, that's he's worried about resale value if he's planning to remain in the unit until he dies. It sounds like he's trying to hedge his bets in case "they" want to sell it before he dies. But, if he dies and the unit is titled in his name, as an alien, then presumably it will be transferred as part of his estate to his Thai heir. In that case, isn't the Thai heir going to have the same problem in selling to an alien that would have existed had the unit been titled in the Thai name at the onset? Or maybe I'm all wrong about the reason why the OP wants to title the condo in the name of a Thai. Oh wait a minute ...... now I'm prying. Edited May 26, 2014 by NancyL Link to comment Share on other sites More sharing options...
Dante99 Posted May 26, 2014 Share Posted May 26, 2014 second paragraph..farungs are aliens in the condo act 2008,perhaps i should have used that term third paragraph...i wish for personal reasons to have it in a thai name, re: paragraph 3. it may be for "personal reasons" but makes no sense at all if you are the one buying a place to live in yourself. ^^^^^^^ why be so hung up ????? its my personal choice , not yours, is it??? be best for all concerned to keep your comments to the opening post ,and not invading into my personal decisions or choices,without being asked,a bit rude me thinks, a nice afternoon to all If you post your personal decisions and choices on a public forum you yourself open them for discussion. sweet dreams Link to comment Share on other sites More sharing options...
evenstevens Posted May 26, 2014 Author Share Posted May 26, 2014 (edited) The OP has made it quite clear it is his preference that the unit be titled in the name of a Thai person, even though he plans to use it as his personal residence. That's his decision and while many can't understand why, there are good reasons why this may make sense. Estate planning is a logical reason. But, it's not our place to pry. thks nancy for your above comments that is my objective mapping out the events which will certainly occur in the not too distant future. which will give my heirs a trouble free estate to inherit and sadly we have two members challenging and bisecting my posts to peices for no apparent logical reason ,they think that evenstevens posts are fair game ,wished they would mind their own businesses and make comments relating to the opening post, as a number of thoughtful t/v members have done and i thank them all for their efforts, Edited May 26, 2014 by evenstevens Link to comment Share on other sites More sharing options...
evenstevens Posted May 27, 2014 Author Share Posted May 27, 2014 But, if he dies and the unit is titled in his name, as an alien, then presumably it will be transferred as part of his estate to his Thai heir. ^^^^^correct and will have to pay transfer taxes etc etc,not to mentioned lawyers fees by having it in a thais name this will not be the case,no taxes,fees involved of course i will have in place a parachute plan which will enable myself to have full control of the condo,whilst i am alive when i get to the other side of that fence who cares what transpires from then there is a whole raft of very good reasons to have it in a thais name,as i said in a earlier post which was not heeded by that member ,we all have different agendas my opening post was to explore some other avenues which i was not to familiar with,and members responded brilliantly,until the two members started raining on my parade or hi jacking the thread , to me it was down right rude,and completely unnecessary, as it did not relate to the opening post, and still one member is barking up the wrong tree will happily move on from here, so summing up my opening posts responses, thai or alien title deed , i feel it is a line ball call ,guess its up to me to decide,again thks to all who contributed to this thread and remember its a great life if as long u dont weaken Link to comment Share on other sites More sharing options...
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