Transfering a condo- from personal to a company- Buyer and Seller the same.

[Caprelo]

I would like to sell (transfer) my personal condo which my company rents from me into the Company. I am the director and the land dept said that I would need to change the director in order to sell. They said the singniture for the buyer and seller cannot be same. I have spoken to lawyer and they said this is not true as the person is one party and the company is the other. Before going back to the land dept for an argument does anyone know if this is true?

[Rooo]

Moved to real estate.

[yankee99]

This is true. Just change the director back to your name after the tranfer.

[dksharron]

True.

From the other side of it, a company , the director cannot sell company property to himself. A good law.

And, a director of a company cannot choose on behalf of the company to buy property from himself.

Remove yourself from the directorship and put in a THAI friend for a day.

It is generally required, at least by the land office in Pattaya, that there are no foreign directors on the company when the property is being purchased. I do not remember if the rule included shareholders as well.

Double check with your land office and go by what they will do. Whether something is legal or not, it is the Land Office which will make the decision to do or not to do a transaction.

Best of luck with everything.