People think that foreigners are not allowed to own houses here. Why?

[Anthony5]

No. Farangs don't even own 1 square inch of Thai land.

http://www.samuiforsale.com/knowledge/land-property-ownership-thailand.html

Exemptions for foreign land ownership

In theory foreign individuals can own land up to 1 rai (1600 square meters) under section 96 bis of Land Code Amendment Act (1999) for residential purposes through the Board of Investment which requires a 40 million baht investment into Thailand in specified assets or government bonds beneficial to the Thai economy. If granted it is under strict conditions and in specified areas and requires approval of the Minister of Interior. In practice, even if you would be able to make an additional investment in the Thai economy of 40 million baht, this is not a viable option. In addition this ownership is NOT transferable by inheritance, therefore limited to the life of the foreigner granted the right to own land under this exception.

"in specified areas"

In a nuclear power plant, an air base, ....?

You're trolling again, there are no nuclear power plants in Thailand.

I know personally of one person who made use of that privilege, and his house is in the Bangkok suburbs.

[ableguy]

A thirty year lease is not a good idea, the owner of the land can borrow from a bank useing the land as surety, don't pay the loan the bank takes the land back and guess what ? You have no lease haul ass.

As explained to me by my lawyer.

[micmichd]

No. Farangs don't even own 1 square inch of Thai land.

http://www.samuiforsale.com/knowledge/land-property-ownership-thailand.html

Exemptions for foreign land ownership

In theory foreign individuals can own land up to 1 rai (1600 square meters) under section 96 bis of Land Code Amendment Act (1999) for residential purposes through the Board of Investment which requires a 40 million baht investment into Thailand in specified assets or government bonds beneficial to the Thai economy. If granted it is under strict conditions and in specified areas and requires approval of the Minister of Interior. In practice, even if you would be able to make an additional investment in the Thai economy of 40 million baht, this is not a viable option. In addition this ownership is NOT transferable by inheritance, therefore limited to the life of the foreigner granted the right to own land under this exception.

"in specified areas"

In a nuclear power plant, an air base, ....?

You're trolling again, there are no nuclear power plants in Thailand.

I know personally of one person who made use of that privilege, and his house is in the Bangkok suburbs.

Sorry for trolling, as a commie rat I need this sometimes when people get too legalistic. Good to learn that Fukushima can't happen here. I've been in a special hospital for severe fire injuries and nuclear victims in Germany, and I've got an idea there what hell could feel like.

[Anthony5]

A thirty year lease is not a good idea, the owner of the land can borrow from a bank useing the land as surety, don't pay the loan the bank takes the land back and guess what ? You have no lease haul ass.

As explained to me by my lawyer.

Any lease longer than 3 years needs to be registered at the land department, and is written on the back of the title deed.

A title deed that has a lease registered can not be used as collateral for a bank loan.

A title deed that has a mortgage registered can not register a lease.

[fey]

OP, if a group of Thais come by in the middle of the night and tell you that you are leaving, you'll leave. I know a guy that happened to.

... Not to mention the visa issue.. It just needs some powerful person who doesn't like you, and you are out.

Sorry i cant imagine this happening. Who were they and did the homeowner get a lawyer? Or was it more of a threat?

[Anthony5]

OP, if a group of Thais come by in the middle of the night and tell you that you are leaving, you'll leave. I know a guy that happened to.

... Not to mention the visa issue.. It just needs some powerful person who doesn't like you, and you are out.

Sorry i cant imagine this happening. Who were they and did the homeowner get a lawyer? Or was it more of a threat?

Happened to a few foreigners in Pattaya, and that were people who were considered very powerful.

Think 19th hole and Mr Ulrich just to name two.

[micmichd]

OP, if a group of Thais come by in the middle of the night and tell you that you are leaving, you'll leave. I know a guy that happened to.

... Not to mention the visa issue.. It just needs some powerful person who doesn't like you, and you are out.

Sorry i cant imagine this happening. Who were they and did the homeowner get a lawyer? Or was it more of a threat?

Happened to a few foreigners in Pattaya, and that were people who were considered very powerful.

Think 19th hole and Mr Ulrich just to name two.

Mr Ulrich sounds German to me.

[Anthony5]

... Not to mention the visa issue.. It just needs some powerful person who doesn't like you, and you are out.

Sorry i cant imagine this happening. Who were they and did the homeowner get a lawyer? Or was it more of a threat?

Happened to a few foreigners in Pattaya, and that were people who were considered very powerful.

Think 19th hole and Mr Ulrich just to name two.

Mr Ulrich sounds German to me.

Did you even bother to read what this was about?

. It just needs some powerful person who doesn't like you, and you are out.

Or do you mean that Germans are exempt of that?

[Jockey]

A thirty year lease is not a good idea, the owner of the land can borrow from a bank useing the land as surety, don't pay the loan the bank takes the land back and guess what ? You have no lease haul ass.

As explained to me by my lawyer.

I don't think your lawyer explained fully perhaps, but if you have a legitimate 30 year lease, the lease must be registered at the land office and the chanote is updated to show the land is leased, therefore the bank should not be lending based on the surety of the land, unless the bank is prepared to become landlord of the lease in the event of non payment of the loan.

[micmichd]

... Not to mention the visa issue.. It just needs some powerful person who doesn't like you, and you are out.

Sorry i cant imagine this happening. Who were they and did the homeowner get a lawyer? Or was it more of a threat?

Happened to a few foreigners in Pattaya, and that were people who were considered very powerful.

Think 19th hole and Mr Ulrich just to name two.

Mr Ulrich sounds German to me.

Did you even bother to read what this was about?

. It just needs some powerful person who doesn't like you, and you are out.

Or do you mean that Germans are exempt of that?

Not so clear if Mr Ulrich was the name of the threatener or one of the threatened.

[micmichd]

A thirty year lease is not a good idea, the owner of the land can borrow from a bank useing the land as surety, don't pay the loan the bank takes the land back and guess what ? You have no lease haul ass.

As explained to me by my lawyer.

I don't think your lawyer explained fully perhaps, but if you have a legitimate 30 year lease, the lease must be registered at the land office and the chanote is updated to show the land is leased, therefore the bank should not be lending based on the surety of the land, unless the bank is prepared to become landlord of the lease in the event of non payment of the loan.

The bank seizes the land from their "non-performing customer", becomes landlord, and out are you.

[micmichd]

Eventually a bank finds out that all or most of the land owners that pawned their land are non-performing customers. Then they take a special bank (the "bad bank") andere bundle their real estate customers there. The "good" customers come and want some cash, but, alas, the bad bank ran out of money. Panic arises, you want to be the first one to get a little cash. They beat you up, you still want cash, and dead are you.

Panic and blood don't look nice in TV, so government comes to do something about it.

But what can a government do?

Government needs the money from the big bad bank, f***, the bank's too big to fail.

What are they going to do?

Your guess is right: Put the burden on the taxpayer. 9 bn EUR for just one big German bank eg.

Some more of your money gone it is.

Still remember how your game started?

You wanted private property on land, in a foreign country.

[micmichd]

BTW. The house I used to live in is the entrance to a garage now. No people there anymore, all dead, but plenty of money to be made. It started when the City of Heidelberg sold public property to private investors, and they had to fake my contract with them to get me out. I didn't want the civil servant who faked it in jail because he had such a nice lady with him.

The story is well known to the court in Heidelberg.

Nobody ever said "Thank you" to me. Quite contrary, they speculated that they could strip me off all civil rights. They tried it over and over again, until I virtually escaped to Thailand. But my property is still there, and now they want to make me pay for their unsolicited "services" again. Last year when I was in Heidelberg, a bankster came up to me and told me that in fact he'd envy me, and pledged me not to be so "cynical" about economic issues in Germany.

But ... (other thread)

[rainham]

I own my house in Thailand and look forward to finding out where it is so i can have a swim in the pool then back my new Toyota SUV off my drive and take the wife and I round to meet her family for a full hog roast BBQ and drink a few bags of whiskey cant wait to try that out LOL then i will have a load of string wrapped round my wrists by the tribal elders thus being accepted into the circle of trust Happy Days

[cornishcarlos]

My wife owns all our property. Still trust her more than 51% biatch

So you are holding 50% of the property and not only 49%. Good deal!!!

Nope, I own zip !! But my wife's different

[Crossy]

Since this thread has degenerated into a major bicker-fest I'm going to close it.

Sorry to all the reasoned posters.