Usufruct or loan?

[Kenny202]

What trogers says,

You can't make a binding contract with your wife.

Get a home loan from a bank, keep your money overseas.

The only way to protect your money, is to not let her have it.

were not registered or even village married

So why did you refer to "wife" in the OP?

Drop the idea of "we".

Yes I did say wife. My bad. A girlfriend of 2 months here everyone calls wife. Using the term loosely when asking for a legal ruling clearly stupid. My apollogies

Two months!!!!!

Troll.

I been with her 4 years. I meant you only need to be with a girl here 2 months and she's Ur "wife" . I frked up using the term wife. Can we get back on topic?

[chiang mai]

Post 27 has your answer.

Out!

[Maestro]

Usufruct is your only sensible option.

A loan recorded on the chanote would only prevent the sale of the property, and a usufruct will also do that.

There is no legal obstacle to selling land that has a usufruct on it, but finding a buyer may be difficult.

[ozyjon]

If she has a bank account build some credibility with the bank for a year....you pay the deposit and let her apply for a mortgage in her name and you pay the monthly payments. If you get divorced then only thing you lose is the deposit and she sits with the mortgage.

Correct,,,

An ingenious post i read one time outlined how an ex pat

set up a bank account in (Singapore i think) and sent the

mortgage payments each month, if things go sour you can

stop payment and still have money to start over.

[Kenny202]

If she has a bank account build some credibility with the bank for a year....you pay the deposit and let her apply for a mortgage in her name and you pay the monthly payments. If you get divorced then only thing you lose is the deposit and she sits with the mortgage.

Correct,,,

An ingenious post i read one time outlined how an ex pat

set up a bank account in (Singapore i think) and sent the

mortgage payments each month, if things go sour you can

stop payment and still have money to start over.

unfortunately she doesn't have employment so I'm guessing a loan for her would be impossible. It is a great method though used by many on here. Loan in ladies name. Maybe farang pay a small deposit and farang makes repayments...at least as long as they're together. I think with any mutual venue with a lady here be it home, business etc. She has to have some skin in the game too Edited November 30, 2015 by Kenny202

[MaeJoMTB]

What trogers says,

You can't make a binding contract with your wife.

Get a home loan from a bank, keep your money overseas.

The only way to protect your money, is to not let her have it.

were not registered or even village married

So why call her your wife?

[TheCruncher]

If only 1 square wah of land is involved in the deal, a Farang is not allowed to grant a Thai National a loan in connection with landed property.

BECAUSE: If the Thai Party defaults, the Farang Lender will become the "de Facto" owner of the land. Illegal in the first place.

Cheers.

No it is not.

A foreigner can become the owner of land through loan guarantee or heritage, but he will be given a period in which he will have to dispose of the property.

I have a mortgage on land to a Thai registered at the land department, with my name on the back of the title deed.

Edited November 30, 2015 by TheCruncher

[Jip99]

If only 1 square wah of land is involved in the deal, a Farang is not allowed to grant a Thai National a loan in connection with landed property.

BECAUSE: If the Thai Party defaults, the Farang Lender will become the "de Facto" owner of the land. Illegal in the first place.

Cheers.

No it is not.

A foreigner can become the owner of land through loan guarantee or heritage, but he will be given a period in which he will have to dispose of the property.

I have a mortgage on land to a Thai registered at the land department, with my name on the back of the title deed.

Good luck with that. Only any use in the event of a sale and if you are prsent at the Land Office.

[TheCruncher]

If only 1 square wah of land is involved in the deal, a Farang is not allowed to grant a Thai National a loan in connection with landed property.

BECAUSE: If the Thai Party defaults, the Farang Lender will become the "de Facto" owner of the land. Illegal in the first place.

Cheers.

No it is not.

A foreigner can become the owner of land through loan guarantee or heritage, but he will be given a period in which he will have to dispose of the property.

I have a mortgage on land to a Thai registered at the land department, with my name on the back of the title deed.

Good luck with that. Only any use in the event of a sale and if you are prsent at the Land Office.

The land can not be sold without my permission, since I'm registered on the chanote as the lender. Chanote is also in my possession.

[Jip99]

What trogers says,

You can't make a binding contract with your wife.

Get a home loan from a bank, keep your money overseas.

The only way to protect your money, is to not let her have it.

were not registered or even village married

So why did you refer to "wife" in the OP?

Drop the idea of "we".

Yes I did say wife. My bad. A girlfriend of 2 months here everyone calls wife. Using the term loosely when asking for a legal ruling clearly stupid. My apollogies

That's nice.

Commitment both ways after 2 months.

Best make the land part of the sinsot arrangements.

Did you say where the land was ?

[Jip99]

Post 27 has your answer.

Out!

I think post 30 has the answer !

[TheCruncher]

Post 27 has your answer.

Out!

I think post 30 has the answer !

So eager to insult the OP that you couldn't be bothered to read also post 31?

[Kenny202]

Post 27 has your answer.

Out!

I think post 30 has the answer !

So eager to insult the OP that you couldn't be bothered to read also post 31?

par for the course every post. Normally about the time I unsubscribe. I know for a fact I can appear as mortgagee on the chanote. What happens after that got a bit muddy with the lawyers. Force sale at any time?...apparently yes. But what if the ex is saying can't sell the house. Not have cudomer? Auction? Don't know if anyone would turn up at other than a big city auction. Do they have property auctions here? A usufruct to me is useless. Yes I can live there forever or move and have the enjoyment of seeing her not be able to live there or sell it but I'll never get my money back and one day it would be hers. Was hoping to get some comment from someone with experience. In all things legal...pre nup etc they're essentially a bluff. Anything can be challenged or delayed Edited November 30, 2015 by Kenny202

[TheCruncher]

Post 27 has your answer.

Out!

I think post 30 has the answer !

So eager to insult the OP that you couldn't be bothered to read also post 31?

par for the course every post. Normally about the time I unsubscribe. I know for a fact I can appear as mortgagee on the chanote. What happens after that got a bit muddy with the lawyers. Force sale at any time?...apparently yes. But what if the ex is saying can't sell the house. Not have cudomer? Auction? Don't know if anyone would turn up at other than a big city auction. Do they have property auctions here? A usufruct to me is useless. Yes I can live there forever or move and have the enjoyment of seeing her not be able to live there or sell it but I'll never get my money back and one day it would be hers. Was hoping to get some comment from someone with experience. In all things legal...pre nup etc they're essentially a bluff. Anything can be challenged or delayed

With your name on the back of the deed as mortgagee, the land can not change name without you signing for agreement.

[Kenny202]

Post 27 has your answer.

Out!

I think post 30 has the answer !

So eager to insult the OP that you couldn't be bothered to read also post 31?

par for the course every post. Normally about the time I unsubscribe. I know for a fact I can appear as mortgagee on the chanote. What happens after that got a bit muddy with the lawyers. Force sale at any time?...apparently yes. But what if the ex is saying can't sell the house. Not have cudomer? Auction? Don't know if anyone would turn up at other than a big city auction. Do they have property auctions here? A usufruct to me is useless. Yes I can live there forever or move and have the enjoyment of seeing her not be able to live there or sell it but I'll never get my money back and one day it would be hers. Was hoping to get some comment from someone with experience. In all things legal...pre nup etc they're essentially a bluff. Anything can be challenged or delayed

With your name on the back of the deed as mortgagee, the land can not change name without you signing for agreement.

thanks bro :-) I spose what happens after that is up to 2 reasonable people to logically work out. Actually I think I'll rent :-)

[RedQualia]

What trogers says,

You can't make a binding contract with your wife.

Get a home loan from a bank, keep your money overseas.

The only way to protect your money, is to not let her have it.

were not registered or even village married

Then buy the house on your own, 100%. The usual way this is done is to buy a house in a moo baan somewhere and lease the land from the moo baan developers. Leases are generally for 30 years, automatically renewed for another 30 years. No reason to involve your non-wife in any way. If you are not married and she makes no contribution to the purchase of the house, it would be difficult for her to make a claim should you part company with her.

[BB1955]

Dont buy anything your not able and willing to walk away from with nothing .

[Jip99]

Post 27 has your answer.

Out!

I think post 30 has the answer !

So eager to insult the OP that you couldn't be bothered to read also post 31?

Read it, I stand by my support for post 30 and recommend that YOU read 27.

[Old Croc]

I think a lot of people refer to their long term partner as their wife, I know I do and I didn't read the post at the outset that the OP was indeed legally married, but that's just me.

I also refer to my lady as my wife in many situations, but if I was asking for legalities on the subjects of usufructs, loans, house ownership or wills I would be specific as to our actual relationship.

I hold an usufruct on my wife's (long term partner's) property, and I would recommend this route, although as stated earlier it limits your ability to completely split from her.

It's worth noting that the holder of an usufruct can lease out the property if they arn't still living there.

A properly registered lease could continue it's term beyond the usufruct holders death.

http://www.thaivisa.com/forum/topic/171307-everything-you-wanted-to-know-about-usufruct-agreements-in-thailand/

Edited December 1, 2015 by Old Croc

[TheCruncher]

Post 27 has your answer.

Out!

I think post 30 has the answer !

So eager to insult the OP that you couldn't be bothered to read also post 31?

Read it, I stand by my support for post 30 and recommend that YOU read 27.

Is Swissie a legal expert who practices Thai law, or is he just another TV armchair expert who looks for his 5 minutes of fame?

I know for a fact, and it has been documented many times on this forum by real life legal experts, that a foreigner can temporarily take possession of land but that he will be given a period to sell by a Thai court.

I also know for a fact that I'm legally registered at the land department as a mortgagee on a certain plot of land, and that in the documents countersigned by the land department is written that said piece of land is collateral for the mortgage.

[chiang mai]

A foreigner can take possession of land that is willed to them, they then have one year to sell it.