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How to save my asset in case of divorce ?


arisa2015

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Hi,

13 years ago, i bought a house with a land 5M THB before to get married with my thai wife and i signed with her a 30 years leasing contract (wrote on chanote title). So now we are married and i’ll sell the property 10M. With this money i would like to buy a new property around 5M for my wife and save 5M for me. How i could do to secure it ? I mean i don’t want to share this 5M later in case of divorce. What kind of investment i can do to save my asset? What’s solution for me ? Only send back my money to my country ?

Big thanks for you help

Edited by arisa2015
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I plan on doing A pre nump in my country,and have her do A pre nump in my country also.I'm thinking that anything that I buy in Thailand will be half hers if we divorce.But in my country she won't get any money.

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Ask that irish guy, Colin something what he thinks ?? :)

"I'm thinking that anything that I buy in Thailand will be half hers" - if it is lands it will not be half hers!

If it is in Thailand assume it will be all gone IF you get a divorce. A pre nup in your country will not do a damn bit of good here (my opinion).

Good luck and I hope you marriage lasts. best solution all round

G

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Do you mean you have come to an agreement with your wife to sell the house split the money 50-50 & then divorce arisa2015 ??

If there are no children involved ----what would she be coming after you for ?

I am never one to recommend lawyers---but I guess you can have her sign an agreement & use the same lawyer for sale of the house.

Thai's have a way (I guess all Asians) of dealing in cash a lot, I have walked though our local land office and seen millions being passed from one person to another---always makes me wonder why these nutcases try to rob gold shops etc. So only take the house payment as a bank chque--that can be made out to both of you.

but If there are children involved ----you should come to some agreement, after all they are your children

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13 years together, and you are worrying abut your wife making claim to 5m, I dread to think what your relationship is like now if you think like this.

Send the money to a bank account that she doe snot know about, alternative open an overseas account and deposit the money.

Good luck with your futures.

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If you have not made a prenuptial before marriage all assets are shared between you and your wife after marriage.

If you make a prenuptial and you don't maintain it, as in regular agreeing on who owns what, it deludes when you get more property or it increases in value.

If you are legally married in Thailand you can not lease a property from your wife.

If you divorce your wife is entitled to half of your assets including savings and investments.

Maybe a comforting thought, it's like this in most of the world ;-)

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Best way of protecting assets from a wife.

Keep it in a bank account in another country, preferably one she doesn't have a VISA to visit, and don't tell her the money or the account exists.

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You are already married, so means 50/50, law.

However divorce is mostly a war and you have to fight for every penny.

She knows you sold it for 10M and if you buy for 5 new, still she knows you have 5M left.

So in case of divorce you have to split, leave the house to her and you keep the money.

That would be lawfully then, but sure has to be done by lawyer in contract.

If she doesnt know about your selling for 10M, then you have to hide your money.

But then ok what is your mariage worth, coz it means lying and cheating?

However women do the same, i know by experience, and are way sneakier,

You dont see it even coming, as you think all is ok.

Untill they switch the knob for real and start war (divorce).

Only before mariage you can make your prenuptial, but if you didn't, you are screwed.

Coz by law mariage means 50/50 for every thing, including debts.

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Best way of protecting assets from a wife.

Keep it in a bank account in another country, preferably one she doesn't have a VISA to visit, and don't tell her the money or the account exists.

Yes finally i think it's the best solution i will send back my money to overseas. Thanks :)

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Do you mean you have come to an agreement with your wife to sell the house split the money 50-50 & then divorce arisa2015 ??

If there are no children involved ----what would she be coming after you for ?

I am never one to recommend lawyers---but I guess you can have her sign an agreement & use the same lawyer for sale of the house.

Thai's have a way (I guess all Asians) of dealing in cash a lot, I have walked though our local land office and seen millions being passed from one person to another---always makes me wonder why these nutcases try to rob gold shops etc. So only take the house payment as a bank chque--that can be made out to both of you.

but If there are children involved ----you should come to some agreement, after all they are your children

Hi, no we didn't signed any prenuptial agreement and if we divorce i'm agree to share 50/50, so an agreement could be a solution or transfer some money to my country could be good too, i just want to explore all solutions but for now we won't divorce. Thanks for your answer.

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i bought a house with a land 5M THB before to get married with my thai wife and i signed with her a 30 years leasing contract (wrote on chanote title).

Does that mean that the house was bought before the marriage ? If that is the case then there is no 50/50 split, its hers.

You have a 30 year lease. If the wording of the lease allows then you can sell the lease.

If the house/land is currently in the wifes name then you cannot sell it, only the wife can, but with the lease who would want it..

To realise the full value would require you both to cancel the lease on the chanote and then sell. Legal documents would of course be required to be in place governing the split of monies received.

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I really wish people would read the Op correctly.

He said he bought the land and house BEFORE he was married.

The 50/50 split doesn't apply, it only applies to things acquired during the marriage....although I do wonder how he managed to buy the house and land in the first place - presumably he meant in his name (which would be illegal).

If it was in the then girlfriends name before marriage....whoops...she owns the lot even post marriage/divorce.

I think he will need to a little research on the matter as there is a good chance he owns nothing, or nothing that he has any control over.

Edited by Mudcrab
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i bought a house with a land 5M THB before to get married with my thai wife and i signed with her a 30 years leasing contract (wrote on chanote title).

Does that mean that the house was bought before the marriage ? If that is the case then there is no 50/50 split, its hers.

You have a 30 year lease. If the wording of the lease allows then you can sell the lease.

If the house/land is currently in the wifes name then you cannot sell it, only the wife can, but with the lease who would want it..

To realise the full value would require you both to cancel the lease on the chanote and then sell. Legal documents would of course be required to be in place governing the split of monies received.

You know arisa2015 ...I did overlook that line you wrote----which as Thaidown has written does alter it a lot. If you have a verbal agreement with her to split the sale money 50-50.........I would try to transfer that into writing at a lawyers ASAP

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i bought a house with a land 5M THB before to get married with my thai wife and i signed with her a 30 years leasing contract (wrote on chanote title).

Does that mean that the house was bought before the marriage ? If that is the case then there is no 50/50 split, its hers.

Under Thai family law, assets that a person owns prior to marriage generally continue to be separate/individual property in the event of a subsequent divorce.

It's assets that are acquired during a marriage that are generally considered community property and to be divided evenly in the event of a divorce.

However, the OP as a farang can't own land in his own name under Thai law. So it sounds from his post, like he gave the money for the land purchase prior to getting married and the land was acquired in the woman's name prior to the marriage.

In that event, the land was individual property of the wife prior to marriage and her property entirely in the event of a divorce -- just as it was during the marriage.

Now if the two divorce, she still owns the land, but I'd assume the OP still has the 30-year lease hold and whatever use that entitles him to that wouldn't automatically be broken because of the divorce.

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i bought a house with a land 5M THB before to get married with my thai wife and i signed with her a 30 years leasing contract (wrote on chanote title).

Does that mean that the house was bought before the marriage ? If that is the case then there is no 50/50 split, its hers.

Under Thai family law, assets that a person owns prior to marriage generally continue to be separate/individual property in the event of a subsequent divorce.

It's assets that are acquired during a marriage that are generally considered community property and to be divided evenly in the event of a divorce.

However, the OP as a farang can't own land in his own name under Thai law. So it sounds from his post, like he gave the money for the land purchase prior to getting married and the land was acquired in the woman's name prior to the marriage.

In that event, the land was individual property of the wife prior to marriage and her property entirely in the event of a divorce -- just as it was during the marriage.

Now if the two divorce, she still owns the land, but I'd assume the OP still has the 30-year lease hold and whatever use that entitles him to that wouldn't automatically be broken because of the divorce.

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Lawyers are useless in Thailand. Didn't you see what happened to that Paddy who recently lost USD 2 in "Doing property deals with Thais" forget it. They paid "Lawyers" to lose his case. Tip - RENT in Thailand and keep all your money in your home country, plus have a smartphone ready so in a few clicks you can be home overnight in case things get "Sticky"

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i bought a house with a land 5M THB before to get married with my thai wife and i signed with her a 30 years leasing contract (wrote on chanote title).

Does that mean that the house was bought before the marriage ? If that is the case then there is no 50/50 split, its hers.

Under Thai family law, assets that a person owns prior to marriage generally continue to be separate/individual property in the event of a subsequent divorce.

It's assets that are acquired during a marriage that are generally considered community property and to be divided evenly in the event of a divorce.

However, the OP as a farang can't own land in his own name under Thai law. So it sounds from his post, like he gave the money for the land purchase prior to getting married and the land was acquired in the woman's name prior to the marriage.

In that event, the land was individual property of the wife prior to marriage and her property entirely in the event of a divorce -- just as it was during the marriage.

Now if the two divorce, she still owns the land, but I'd assume the OP still has the 30-year lease hold and whatever use that entitles him to that wouldn't automatically be broken because of the divorce.

Ok to resume, i used my own asset and i can prove to purchase a land to my thai gf, then we signed a leasing contract, then we built a house on it and then we get married. So in your opinion, in case of divorce the judge could break the lease and the property won't split 50/50... So if i don't find any agreement with my wife before to divorce, i will get nothing.

Edited by arisa2015
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If you have not made a prenuptial before marriage all assets are shared between you and your wife after marriage.

If you make a prenuptial and you don't maintain it, as in regular agreeing on who owns what, it deludes when you get more property or it increases in value.

If you are legally married in Thailand you can not lease a property from your wife.

If you divorce your wife is entitled to half of your assets including savings and investments.

Maybe a comforting thought, it's like this in most of the world ;-)

So it's really a case of bending over and kissing your assets goodbye.

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If you bought the house before marriage and it is in your wife's name then it is not your asset to sell, although you still hold the lease which has some value. The property purchased with proceeds and the extra cash may become marital property once she sells it if she doesn't specifically identify it as her property, in which case you would be entitled to 50% upon divorce.

You might consider posting this question in the Ask the Lawyer section.

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Yeah from what you have said the situation you are in in right now is not good!

However, as you are about to sell the house and land, and your situation at the moment is stable I don´t see why you can´t make things ¨safer¨ for the future.

This is just a thought, and I am not sure of the finer ¨legal¨ aspects but....

What if you bought the next house and land in a company name. You and your wife the sole share holders (if that is possible). The company owns the property, you own 49% of the company (and assets). The reason for the company is to just ensure a fair division of family assets......

After all isn´t that basically what companies were set up for?

You could even set it up so that the company owed you money personally if you personally loaned it money for something like a mortgage over any property. It would take some forethought but I think it would be possible.

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Since the property is in your wife's name, then it will be her who sells it, and then (hopefully) give you your half or 5 M. To be honest, if both of you are planning a near future Divorce now, I would be more worried about this part then what happens after you get the money. Because you may not get it willingly or at all. If you are both planning a Divorce then just make the sale of this property as part of the division of assets on the Divorce Agreement, before you sell.

If you are not planning a Divorce but instead just looking at this as a possible worst case scenario should things go South in the future, there really isn't anything you can do legally to protect this 5 M. By Common Law, all property and assets acquired during the marriage is subject to division, which is usually 50-50. So even after you sold this property, and divided the proceeds 50-50 and then decided to buy some LOTTO Tickets with some of it, and won, you would still be required to share your winnings with your wife if you are still married to her.

In fact I know of a case in Canada when a man did exactly that. But instead of cashing in his winning LOTTO Ticket he held on as long as he could, and divorced his wife first. When he finally cashed in his ticket he claimed he did not know he won until he discovered the ticket by accident in a shirt pocket of a shirt he doesn't wear anymore, and when he checked it, he saw that this was the winning ticket. He might have got away with it except they splashed his name and photo in the News Letter and when his wife saw this she took him to court. Since the ticket was bought during the marriage, she got half.

But if you divide this sale of the property evenly now, and then divorce in a few more years, I really don't know why you are so worried. In Divorce proceeding she is not entitled to half of your assets, but instead she is entitled to half of the assets acquired during the marriage. Since she will have land valued at 5 M, and you will have the 5 M in cash, this should balance out.

You could of course send this money back home, and if I was you I probably would, but it won't really help in Divorce Proceedings. When you Divorce you have to make a Sworn Statement (Affidavit) declaring your Worldly Assets, which includes the money you sent back home. You could of course not mention this money, which is equal to telling a lie. I would not advice this since it is a sworn statement made under Oath, and because your wife would know you are a liar and have this money, but did not declare it.

In all cases keep good documentation. If you do sell the property for 10 M, and then give your wife 5 M, be sure that you are able to prove that. In a Divorce Court you are guilty until you prove you are innocent. Since the Divorce Proceedings will be held in a Thai Court I would think that the voice of a Thai will go further then yours. So in your case documentation of everything, and everything in writing, is very important.

There is a law which states that what you bring into a marriage in Thailand you are allowed to keep after the divorce. It sounds to me that in your case it was probably all of your money that bought this land, and thus it should be you who should be able to keep it all. But the Grey area here is that you had to sign a piece of paper before this land was purchased saying none of your own money was used to buy this land.

So in reality it could be your wife claiming that it was her money she brought into the marriage to purchase this land, and your signature from the Land Titles Office to prove that.If the court agrees, then she would get it all. Right now you have a 30 years lease which technically nobody can kick you out of the property right now. But you will need to sign this right away over, in order for the property to be sold. If she gets all the sale proceeds then you could end up with nothing. Not even a place to live!

This is why I said I would be more concerned in getting your share after the property was sold then what to do with your 5 M later. .

.

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Lawyers are useless in Thailand. Didn't you see what happened to that Paddy who recently lost USD 2 in "Doing property deals with Thais" forget it. They paid "Lawyers" to lose his case. Tip - RENT in Thailand and keep all your money in your home country, plus have a smartphone ready so in a few clicks you can be home overnight in case things get "Sticky"

Thanks kinmaew----that's a great tip to give someone who's post starts off like this --13 years ago, i bought a house with a land 5M THB

Anymore hot tips kinmaew----------Like where to purchase a time machine................coffee1.gif

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Under Thai family law, assets that a person owns prior to marriage generally continue to be separate/individual property in the event of a subsequent divorce.

It's assets that are acquired during a marriage that are generally considered community property and to be divided evenly in the event of a divorce.

However, the OP as a farang can't own land in his own name under Thai law. So it sounds from his post, like he gave the money for the land purchase prior to getting married and the land was acquired in the woman's name prior to the marriage.

In that event, the land was individual property of the wife prior to marriage and her property entirely in the event of a divorce -- just as it was during the marriage.

Now if the two divorce, she still owns the land, but I'd assume the OP still has the 30-year lease hold and whatever use that entitles him to that wouldn't automatically be broken because of the divorce.

Ok to resume, i used my own asset and i can prove to purchase a land to my thai gf, then we signed a leasing contract, then we built a house on it and then we get married. So in your opinion, in case of divorce the judge could break the lease and the property won't split 50/50... So if i don't find any agreement with my wife before to divorce, i will get nothing.

If you used your money to purchase Thai land in the name of a single (unmarried) Thai woman who LATER become your wife, the land is hers 100% during your marriage and 100% in the event of a divorce. Note, I said, the LAND. You are not entitled to buy land under Thai law, so presumably it was purchased/recorded in her name prior to your marriage with your money. Thus, pre-marriage property of hers... she owns it 100%. You can think of your money as a gift to her that's not recoverable.

Now, apart from the land, if you spent your money to build a house or make other improvements ON that land PRIOR to getting married, then you at least have an arguable case to claim back at least the value of those improvements in the event of a divorce.

If you spent your money DURING your marriage to build a house or make improvements there, my guess is you thus converted your money at that point into marital (shared) community property. So any building you did or improvements you made DURING the marriage would be divided equally, or at least the value of them, in the event of a divorce.

As for the lease, you really ought to talk with a family law attorney about that. My guess is that the lease, if executed between the two of you prior to your marriage, would not be canceled or otherwise impaired if the two of you ended up getting divorced. Don't confuse the ownership of the land (which belongs to your wife) with your individual rights to use the land (and/or house) as provided by a legal contract (the lease).

My guess is, you'd still have whatever rights you were entitled to under the lease, even after a divorce.... Unless you negotiated them away somehow as part of a divorce settlement. But again, the lease is something you'd best check with an attorney about -- if you're thinking you're headed for divorce.

Ohh... one other detail... that's assuming that you finalized the lease BEFORE you were legally married in an amphur proceeding (village ceremonies don't count--only the amphur registration and the date of it is legal). If you finalized the lease AFTER you were legally married, there's a good chance that your wife would be entitled to break the lease at will (although she might not know that). That's because, under Thai law, any contract executed between a husband and wife can be voided by either party any time during the marriage or up to 1 year after a divorce.

Edited by TallGuyJohninBKK
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Under Thai family law, assets that a person owns prior to marriage generally continue to be separate/individual property in the event of a subsequent divorce.

It's assets that are acquired during a marriage that are generally considered community property and to be divided evenly in the event of a divorce.

However, the OP as a farang can't own land in his own name under Thai law. So it sounds from his post, like he gave the money for the land purchase prior to getting married and the land was acquired in the woman's name prior to the marriage.

In that event, the land was individual property of the wife prior to marriage and her property entirely in the event of a divorce -- just as it was during the marriage.

Now if the two divorce, she still owns the land, but I'd assume the OP still has the 30-year lease hold and whatever use that entitles him to that wouldn't automatically be broken because of the divorce.

Ok to resume, i used my own asset and i can prove to purchase a land to my thai gf, then we signed a leasing contract, then we built a house on it and then we get married. So in your opinion, in case of divorce the judge could break the lease and the property won't split 50/50... So if i don't find any agreement with my wife before to divorce, i will get nothing.

If you used your money to purchase Thai land in the name of a single (unmarried) Thai woman who LATER become your wife, the land is hers 100% during your marriage and 100% in the event of a divorce. Note, I said, the LAND. You are not entitled to buy land under Thai law, so presumably it was purchased/recorded in her name prior to your marriage with your money. Thus, pre-marriage property of hers... she owns it 100%. You can think of your money as a gift to her that's not recoverable.

Now, apart from the land, if you spent your money to build a house or make other improvements ON that land PRIOR to getting married, then you at least have an arguable case to claim back at least the value of those improvements in the event of a divorce.

If you spent your money DURING your marriage to build a house or make improvements there, my guess is you thus converted your money at that point into marital (shared) community property. So any building you did or improvements you made DURING the marriage would be divided equally, or at least the value of them, in the event of a divorce.

As for the lease, you really ought to talk with a family law attorney about that. My guess is that the lease, if executed between the two of you prior to your marriage, would not be canceled or otherwise impaired if the two of you ended up getting divorced. Don't confuse the ownership of the land (which belongs to your wife) with your individual rights to use the land (and/or house) as provided by a legal contract (the lease).

My guess is, you'd still have whatever rights you were entitled to under the lease, even after a divorce.... Unless you negotiated them away somehow as part of a divorce settlement. But again, the lease is something you'd best check with an attorney about -- if you're thinking you're headed for divorce.

Ohh... one other detail... that's assuming that you finalized the lease BEFORE you were legally married in an amphur proceeding (village ceremonies don't count--only the amphur registration and the date of it is legal). If you finalized the lease AFTER you were legally married, there's a good chance that your wife would be entitled to break the lease at will (although she might not know that). That's because, under Thai law, any contract executed between a husband and wife can be voided by either party any time during the marriage or up to 1 year after a divorce.

Thanks for your interesting answer, we finalized the leasing contract before to get married, it is registered at the land office and wrotte under the chanote tittle. The house i on my wife name too but i can prove i paid the building.

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Since the property is in your wife's name, then it will be her who sells it, and then (hopefully) give you your half or 5 M. To be honest, if both of you are planning a near future Divorce now, I would be more worried about this part then what happens after you get the money. Because you may not get it willingly or at all. If you are both planning a Divorce then just make the sale of this property as part of the division of assets on the Divorce Agreement, before you sell.

If you are not planning a Divorce but instead just looking at this as a possible worst case scenario should things go South in the future, there really isn't anything you can do legally to protect this 5 M. By Common Law, all property and assets acquired during the marriage is subject to division, which is usually 50-50. So even after you sold this property, and divided the proceeds 50-50 and then decided to buy some LOTTO Tickets with some of it, and won, you would still be required to share your winnings with your wife if you are still married to her.

In fact I know of a case in Canada when a man did exactly that. But instead of cashing in his winning LOTTO Ticket he held on as long as he could, and divorced his wife first. When he finally cashed in his ticket he claimed he did not know he won until he discovered the ticket by accident in a shirt pocket of a shirt he doesn't wear anymore, and when he checked it, he saw that this was the winning ticket. He might have got away with it except they splashed his name and photo in the News Letter and when his wife saw this she took him to court. Since the ticket was bought during the marriage, she got half.

But if you divide this sale of the property evenly now, and then divorce in a few more years, I really don't know why you are so worried. In Divorce proceeding she is not entitled to half of your assets, but instead she is entitled to half of the assets acquired during the marriage. Since she will have land valued at 5 M, and you will have the 5 M in cash, this should balance out.

You could of course send this money back home, and if I was you I probably would, but it won't really help in Divorce Proceedings. When you Divorce you have to make a Sworn Statement (Affidavit) declaring your Worldly Assets, which includes the money you sent back home. You could of course not mention this money, which is equal to telling a lie. I would not advice this since it is a sworn statement made under Oath, and because your wife would know you are a liar and have this money, but did not declare it.

In all cases keep good documentation. If you do sell the property for 10 M, and then give your wife 5 M, be sure that you are able to prove that. In a Divorce Court you are guilty until you prove you are innocent. Since the Divorce Proceedings will be held in a Thai Court I would think that the voice of a Thai will go further then yours. So in your case documentation of everything, and everything in writing, is very important.

There is a law which states that what you bring into a marriage in Thailand you are allowed to keep after the divorce. It sounds to me that in your case it was probably all of your money that bought this land, and thus it should be you who should be able to keep it all. But the Grey area here is that you had to sign a piece of paper before this land was purchased saying none of your own money was used to buy this land.

So in reality it could be your wife claiming that it was her money she brought into the marriage to purchase this land, and your signature from the Land Titles Office to prove that.If the court agrees, then she would get it all. Right now you have a 30 years lease which technically nobody can kick you out of the property right now. But you will need to sign this right away over, in order for the property to be sold. If she gets all the sale proceeds then you could end up with nothing. Not even a place to live!

This is why I said I would be more concerned in getting your share after the property was sold then what to do with your 5 M later. .

.

Thanks a lot :) That's exactly what you said, we don't plan to divorce, i just want to be informed of all worst case scenario could happens.

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Re what Goldbuggy advised:

AFAIK, IF the two of you get divorced and at the time your wife still owns the land, as she does now solely as her property, then she's entitled to keep the land post-divorce, and you wouldn't be entitled to any value from the land as a result of the divorce.

However, it would get perhaps more complicated if your wife were to sell the land WHILE you are still married, thus converting her ownership interest into cash. There's some provision in Thai law that allows spouses to "convert" individual (non-marital) property into "other" forms during a marriage without the new asset automatically becoming marital property.

I'm not sure whether than protection for your wife would apply in the case of her selling her own individual land while the two of you are married. Or, whether her selling the land and converting it into cash would then make the cash (marital) shared assets at that point.

My guess is, a Thai court would rule that the proceeds of the sale of land owned by your wife during a marriage would remain her individual assets and not have to be shared in the event of a divorce. But, just as with the lease, that's probably a question to put to a family law attorney here.

So...in summary, you should talk with an attorney about A: the status of your lease in the event of a divorce, and B: do you gain a spousal interest, if your wife sells her own land during your marriage, in the proceeds of the sale.

My guess is, in the event of a divorce:

--the wife would keep the full value/ownership of the land,

--you'd keep whatever use rights you have under your lease, and

--you might be able to recover whatever investment in the house and other improvements you made prior to getting married.

But yes, you probably would be able leverage your legal rights under your lease into obtaining some compensation from your wife. But that would be through a negotiation, not through what you're legally entitled to in a divorce proceeding.

In a divorce, you'd be legally entitled to keep your rights under the lease. If the wife, as the owner of the land you're leasing wants to buy you out of that lease, that's up for negotiation.

Edited by TallGuyJohninBKK
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Thanks a lot smile.png That's exactly what you said, we don't plan to divorce, i just want to be informed of all worst case scenario could happens.

Worse case scenario ...... she has you killed.

or read the 65M Baht Irish thread ........ she forged his signature at the land office to give up the lease.

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