New invented rules or not?

[kannot]

My Wife is buying a condo form a friend of ours who is American, Ive told her its ok to put it in just her name ( I dont have a problem with this so n o need to go into me losing it later when she runs off with the gardener)

Anyway my Wife went to the land office today with the American and the land officer told her that he needs to see that I brought the money into Thailand to buy this condo as we are married and he needs to see me there as well???????? I think they are making up their own rules now.

Info, married 7 years and not temple wedding i mean with marriage cert, paying cash outright, we own other condos and never had this claptrap before.

My wife does this for a living anyway and knows its wrong.

In a divorce half the condo will be mine anyway as bought after marriage but as for the other part about bringing the money in???????

Officer said they are following the rules strictly now?????

[Crossy]

I wonder if the fact that it's currently in the 'farang' quota has anything to do with it.

Moving it to Thai ownership may mean more paperwork for the land office chaps so they want to do a farang - farang transfer.

[kannot]

I wonder if the fact that it's currently in the 'farang' quota has anything to do with it.

Moving it to Thai ownership may mean more paperwork for the land office chaps so they want to do a farang - farang transfer.

Thanks Ill check but its still going to be in the Wifes name so seems odd. I think it will be quietly forgotten when we go back in 10 days or so. But still insists I need to be there.

[KittenKong]

I wonder if the fact that it's currently in the 'farang' quota has anything to do with it.

It shouldn't. The paperwork seems to be the same (apart from the FET certificate requirement for farang name, of course).

Also the quota system doesnt actually prevent a unit being sold from farang name to Thai name, though it would automatically liberate a percentage in the building that would allow for another unit to go from Thai name to farang name.

[KittenKong]

"My Wife is buying a condo form a friend of ours who is American, Ive told her its ok to put it in just her name"

If your building is popular with farangs then you may be doing yourself a disservice. If the farang quota is fully used (as it often is in good buildings in tourist areas) then a unit in Thai name will probably be worth less than one in farang name.

Of course if there aren't that many farang owners in your building then it doesnt matter.

[Baerboxer]

I wonder if the fact that it's currently in the 'farang' quota has anything to do with it.

Moving it to Thai ownership may mean more paperwork for the land office chaps so they want to do a farang - farang transfer.

Thanks Ill check but its still going to be in the Wifes name so seems odd. I think it will be quietly forgotten when we go back in 10 days or so. But still insists I need to be there.

Wife bought some land end 2011 off a relative. Had to get the boundaries all marked. It was a big chunk of land and being sold to 3 people. We sorted out our deeds early this year. Same thing. Land Officer told wife I had to be there and sign that the money was brought into Thailand; and he had to see me sign. All to do with my wife being able to prove where she got the money and that she did not get it illegally in Thailand- not from illegal activities or money laundering within Thailand.

[Longtooth]

"My Wife is buying a condo form a friend of ours who is American, Ive told her its ok to put it in just her name"

If your building is popular with farangs then you may be doing yourself a disservice. If the farang quota is fully used (as it often is in good buildings in tourist areas) then a unit in Thai name will probably be worth less than one in farang name.

Of course if there aren't that many farang owners in your building then it doesnt matter.

This sounds like an excellent point.

[kannot]

I wonder if the fact that it's currently in the 'farang' quota has anything to do with it.

Moving it to Thai ownership may mean more paperwork for the land office chaps so they want to do a farang - farang transfer.

Thanks Ill check but its still going to be in the Wifes name so seems odd. I think it will be quietly forgotten when we go back in 10 days or so. But still insists I need to be there.

Wife bought some land end 2011 off a relative. Had to get the boundaries all marked. It was a big chunk of land and being sold to 3 people. We sorted out our deeds early this year. Same thing. Land Officer told wife I had to be there and sign that the money was brought into Thailand; and he had to see me sign. All to do with my wife being able to prove where she got the money and that she did not get it illegally in Thailand- not from illegal activities or money laundering within Thailand.

Thanks BUT my Wife s job is real estate she knows the land office rules and regs pretty well and hasnt seen this before. LAND is different to a condo purchase.

[kannot]

"My Wife is buying a condo form a friend of ours who is American, Ive told her its ok to put it in just her name"

If your building is popular with farangs then you may be doing yourself a disservice. If the farang quota is fully used (as it often is in good buildings in tourist areas) then a unit in Thai name will probably be worth less than one in farang name.

Of course if there aren't that many farang owners in your building then it doesnt matter.

This sounds like an excellent point.

Its not relevant to my circumstances.

[oracle]

When a Thai married to a foreigner buys a condo this will automatically be seen as foreign ownership, unless there is proof the money used is personal of the Thai spouse, similar as the rules for buying land by a Thai married to foreigner. You need the sign the letter stating it is her money that is used, then it will be full Thai ownership and her personal asset, or she buys it in her name without proof it is her personal money but then you need to comply with foreign ownership rules section 19, but then, in this case, in her name it will be property of husband and wife.

[kannot]

When a Thai married to a foreigner buys a condo this will automatically be seen as foreign ownership, unless there is proof the money used is personal of the Thai spouse, similar as the rules for buying land by a Thai married to foreigner. You need the sign the letter stating it is her money that is used, then it will be full Thai ownership and her personal asset, or she buys it in her name without proof it is her personal money but then you need to comply with foreign ownership rules section 19, but then, in this case, in her name it will be property of husband and wife.

Thanks yes this is correct after my Wife spoke with them...............however she was also told If I have a yellow book for any other condo ( which I do) I should for some reason not have to sign the paper saying it belongs to just my Wife and then will belong to both of us.

Ill let you know how i get on tomorrow