House ownership / protection of investment

[UKJASE]

hey guys, i am hoping for some advice please

the wife and i purchased some land in hua hin. the land is in her name, and my name is on the back of the chanoot, via a usufruct. this was all done whilst married

we are building a house now. the building permit is in her name.

i have most of the invoices and money transfers for the build in my name, as i have paid for everything nearly

i am going to get a yellow book soon.

what else can i do to protect my investment? i am not trying to gain complete control over the property, i just want to protect myself, so if things go bad in the relationship, i wont be left without what i consider to be my 50% share. our relationship can be a bit rocky sometimes, and where she may want to finish one week, it will all be forgotten the next. i just need something that ensures she cannot quickly offload the property. hopefully the usufruct goes halfway there, but i have read conflicting opinions

any extra steps i can take that will tie us further together financially?

[TommyUK1960]

No matter what anyone says, Once farlangs money is donated for the purpose of the home. If it goes wrong the chances are you are going to lose that money.

It will be taken either by the Wife/Girlfriend or the legal profession. The old saying "only be prepared to spend what you can afford to lose".

Best advice is to keep the relationship healthy and enjoy it for as long as it last's but always have a back up fund that is secure as can be, away from her.

[Expattaff1308]

It's as Tommyuk1960 says, the usufruct is a safe option but if things get nasty its the same the world over, you either walk away or it all goes to the lawyers.

I bought mine 5 yrs ago but I'm not sure I would have done if the relationship was rocky!!

[Langsuan Man]

Usefruct between husband and wife are useless in Thailand, dissolution of property in the case of a divorce will be determined by the court that issues the divorce. The yellow book proves absolutely nothing other than a piece of paper showing where your residence is located. Basically it is a blue book for farangs

There is no way to protect your investment if you are married. She is entitled to 50% and there is nothing you can do about it since the court will look at your contribution as a gift, so be happy with your 50% share, regardless of how much you have invested

[TommyUK1960]

Usefruct between husband and wife are useless in Thailand, dissolution of property in the case of a divorce will be determined by the court that issues the divorce. The yellow book proves absolutely nothing other than a piece of paper showing where your residence is located. Basically it is a blue book for farangs

There is no way to protect your investment if you are married. She is entitled to 50% and there is nothing you can do about it since the court will look at your contribution as a gift, so be happy with your 50% share, regardless of how much you have invested

It is possible the court would award you 50% in the case of marriage breakdown but the legal thieves (Profession) would take a nice big chunk of that.

[cheeryble]

UKJase you didn't supply the critical information.....ie are you officially married?

This makes all the difference to the validity of the usufruct.

If the usufruct IS valid, also remember you can lease the property out for 30 years anytime you choose including the day before you die.

This is a very strong incentive to a usufructor to settle, and you would hold most of the cards.

Sent from my iPad using ThaiVisa app

Edited September 16, 2014 by cheeryble

[marcusd]

Take a MORTGAE where you LOPAN her the money and SHE owes you. that is legal and supplants marriage splits

[UKJASE]

UKJase you didn't supply the critical information.....ie are you officially married?

This makes all the difference to the validity of the usufruct.

If the usufruct IS valid, also remember you can lease the property out for 30 years anytime you choose including the day before you die.

This is a very strong incentive to a usufructor to settle, and you would hold most of the cards.

Sent from my iPad using ThaiVisa app

yes we are legally married here in thailand Cheeryble, and my name is on the back of the chanoot in the form of a usufruct

[JOC]

Just make sure, when the house is finished, that it is registered on the Chanote. So the usufruct includes the house as well.

If the relationship goes south, the usufruct is not worth the paper it is written on, since agreements between husband and wife can be voided in case of a divorce.

On the other hand, in the worst case scenario, anything aquired during marriage is a 50/50 split. No matter what paper you have signed at the landoffice, the court will overrule it.

Still at soi 102??

[cheeryble]

UKJase I'm afraid what JOC says may be true......though there is also the possibility of annulling the purchase by the wife with funds provided by you in which case property to be sold in X months with funds reverting to provider.

Sent from my iPad using ThaiVisa app

[UKJASE]

UKJase you didn't supply the critical information.....ie are you officially married?

This makes all the difference to the validity of the usufruct.

If the usufruct IS valid, also remember you can lease the property out for 30 years anytime you choose including the day before you die.

This is a very strong incentive to a usufructor to settle, and you would hold most of the cards.

Sent from my iPad using ThaiVisa app

YES CHEERYBLE, WE ARE 100% (oops) legally married here in thailand, and the usufruct is official and my name is on the back of the chanoot

i just worry that maybe she would go to the land office, somehow get the usufruct cancelled, and be free to sell.

she is a good girl, but i am a worrier

and i read some bad news stories here on TV

[UKJASE]

Just make sure, when the house is finished, that it is registered on the Chanote. So the usufruct includes the house as well.

If the relationship goes south, the usufruct is not worth the paper it is written on, since agreements between husband and wife can be voided in case of a divorce.

On the other hand, in the worst case scenario, anything aquired during marriage is a 50/50 split. No matter what paper you have signed at the landoffice, the court will overrule it.

Still at soi 102??

i would be happy with 50 / 50 split, as long as i am guaranteed that.

what is the purpose of getting the house on the chanoot JOC? surely it is the land that has the real value, or can she allow me onto the land (as per the chanoot) but not into the house?!

still on soi 102 JOC, but the land and house we are building is up at nong korn (along pala u road), and is a beauty. i think the stress of a self build is taking it out of us both and frying my nerves a bit

appreciate you taking the time guys

[cheeryble]

Don't fret too much UKJase

Half the battle is that your other party THINKS you have a legally tight usufruct.

That and the fact that most Thai women in fact would prefer a halfway nice lifelong relationship to the alternative should see you through.

There are plenty of horror stories but there are plenty of farang around who don't behave nicely.

Throwing money at them ain't the answer.....just be one of the many decent ones who quietly goes through life with a wife who sticks with them and they support each other and are polite to each other like a two way street.

Sent from my iPad using ThaiVisa app