Buying a house. Can I register it to my preteen Thai children?

[js1]

Hi Guys

Been here 15 years, and have a good business here. I have one daughter from a previous relationship with a Thai girl. My daughter is now 8. Her Mum left when she was 1. I have court papers giving me 100% custody and parental custody. My daughter has both Thai and British citizenship. My new Thai partner (We're not married), is 6 months pregnant with twins.

I'm thinking about buying a house IRO 5M THB, now that we need something bigger.

I wouldn't be comfortable registering the house in my partners name. She's a good girl, but I'm not naive enough to not realise that her family would come first if push came to shove.

Can anyone advise me if it's possible for me to purchase a house and register it in the names of my Thai children? (There will be three kids total soon all with dual Thai / British nationality, when the twins are born in a couple of months).

I'd consider also buying in my company name, but, even that could have unforeseen problems arise in the future.

Advice is greatly appreciated please? TIA.

Jamie

[PattayaPhom]

Congrats on the twins Property can be placed in a childs name, just remember you wont be able to mortgage or borrow on the property and it cant be sold until the child is 20 when they are old enough to make that decison unless in exceptional circumstances. Check at the local land office as age requirements differ province to province.

[DiamondKing]

Yes you can do it no problem my mate has 3 houses 1 in each name of his 3 kids however as mentioned you will not be able to sell it until the child is 20 years old without a court order and they are hard to come by

[MaeJoMTB]

unless you marry your 'partner', the twins aren't legally your children, so not with them at the moment.

8yo is yours so you can.

[BlackJack]

yes the above is correct

dont complicate it by getting married

make sure you have a Will and an experienced Executor

[blackcab]

The other way of looking at it is that your partner is much more likely to support an application to get the Court recognise you as their father if it means their names will go on a Chanote.

[Mudcrab]

yes the above is correct

dont complicate it by getting married

make sure you have a Will and an experienced Executor

Finding an executor shouldn't be that difficult by all reports.....whats your particular flavour of execution...cement truck and motorbike perhaps?? Condo diving sans parachute ?

[mrfaroukh]

I think it can be done, but make sure no one can sell it since it is a miner child.

[offset]

I think it can be done, but make sure no one can sell it since it is a miner child.

There are ways to sell the land but it is more difficult if the child is very young and the father has 50% parental rights

[NickJ]

If you do get married make sure you buy the house first. So it is a pre-marital asset.

Dont make the mistake of listing your gf or future wife as a director or shareholder in the company if you do go that route.

I dont think its possible to list your child as a shareholder. If you could and problems arise later on then you could put the house in the kids name......

[khunPer]

Yes, minors can own property, shares in a limited company, and funds.

As MaeJoMTB says in post #4 about the coming twins, you will need a cord-order to be legal guardian when not married to the mother.

If any usufruct or lease agreement need to be established on the property, that should be done when transferring the deed to your child/children, as it can be complicated later. You will need an experienced lawyer to check with the local Land Office – the administration may be different in various areas – before you do any transfer. The property can (normally) not be sold or transferred before the child is of age, 20 years old.

If thinking about company ownership, you shall take the possible upcoming property tax into consideration, as that may be higher on commercially owned property than a private house. Furthermore you shall pay lease to the company, so from a financial point of view, child ownership with a usufruct or superficies may be more attractive.

I speak from experience, as my (half) Thai daughter owns land, shares and funds.

[rct99q]

Funny how we, as people, place a higher value on property then we do on our children. You trust your current breeder (and her family) with spawning and raising your children but not with her having a partial ownership in some dirt, mud and bricks (ie a house). I presume that it is easier to replace the children (have more with another spawner) if things dont work out than to build or buy another 5,000,000baht house.

As to the question, yes it has been done by hundreds if not thousands of people in the same position as you in this country.

[PattayaPhom]

Funny how we, as people, place a higher value on property then we do on our children. You trust your current breeder (and her family) with spawning and raising your children but not with her having a partial ownership in some dirt, mud and bricks (ie a house). I presume that it is easier to replace the children (have more with another spawner) if things dont work out than to build or buy another 5,000,000baht house.

As to the question, yes it has been done by hundreds if not thousands of people in the same position as you in this country.

The OP has not mentioned he is leaving the children, in fact the opposite. Trying to protect an investment does not mean he puts a higher value on that than his kids.

[BlackJack]

yes the above is correct

dont complicate it by getting married

make sure you have a Will and an experienced Executor

Finding an executor shouldn't be that difficult by all reports.....whats your particular flavour of execution...cement truck and motorbike perhaps?? Condo diving sans parachute ?

I dont know what your smoking but give it up as it has nothing to do with what we're talking about

you are talking about an executioner and not an executor

way off topic

[toenail]

Thaivisa members who take time out to seriously answer an OP's question or concern is deeply appreciated; for, in LOS it can be difficult to get correct information- even from the Thai government or Thais involved with an expat's concern. Yes, one will receive different opinions based on different experiences but... what is not needed are the worthless smart <deleted> that are always making a joke out of a serious concern. ( example: Mudcrab) They have nothing else to do during the day.

[huawei]

Funny how we, as people, place a higher value on property then we do on our children. You trust your current breeder (and her family) with spawning and raising your children but not with her having a partial ownership in some dirt, mud and bricks (ie a house). I presume that it is easier to replace the children (have more with another spawner) if things dont work out than to build or buy another 5,000,000baht house.

As to the question, yes it has been done by hundreds if not thousands of people in the same position as you in this country.

The OP has not mentioned he is leaving the children, in fact the opposite. Trying to protect an investment does not mean he puts a higher value on that than his kids.

Infact very few seem to do enough to protect their assets for their children. In many cases the wife isn't financially savvy ! So it makes complete sense.