how to buy property in kids name?

[salavan]

hi folks im going to buy a house and land in my kids name, is there anyone on this site that has done this already? and can tell me how to go about it.

regards

[petertucker48]

Is he old enough to sign legal documents ?

[aarn]

This to start http://www.thaivisa.com/forum/topic/725993-buying-property-in-thai-childrens-names/

[khunPer]

»…is there anyone on this site that has done this already? and can tell me how to go about it.«

Yes.

For land you can have your minor Thai child named as owner, and the guardian (typically mother) shall sign for the child. The guardian has full power, however normally any action against the child’s interest will not be accepted by the Land Office, like a mortgage or transfer to another name, and in some cases also leasing and usufruct agreements.

House can be registered the same way, if it’s an existing house. To my knowledge a house on the land will normally follow the land deed, if not already registered in another name, however check with the Land Office or a lawyer; or some other TV forum member may know...

If it’s a new construction, building permission shall be issued in the child’s name and all contracts, drawings, and bills also – but I am not aware if a minor can apply for a building permission through a guardian. However a foreigner can own a house, but not the land, so there may be other options.

Be aware that when the child become 21 years old, the child will have full power of house & land.

Any protection agreement like leasing contract, mortgage, usufruct, or superficies (which a kind TV forum member made me aware of and that is worth checking), shall be made and stated on the deed before the land is transferred to the minor child, as the Land Office may not accept any contract like that after the land has been transferred into the minor child’s name.

I normally recommend using an experienced law firm or lawyer, especially if it’s a relative huge investment.

Wish you good luck with your plan.

Edited September 18, 2014 by khunPer

[cardinalblue]

I heard up until 20 years of age...

can have others as guardian as well...

CB