Investing In A Project Where The Land Title Is Nor Sor Sam.

[malcolminthemiddle]

The procedure proposed by the Developer is a 30 year lease registered at the Land Department with a provision that the Nor Sor Sam and lease will be converted into a Chanote + freehold within a set period of time. There will be a nominal annual lease fee, payment for the freehold of the land will be made only at the time of conversion. Thai wife will hold freehold.

The Nor Sor Sam title covers more than 200 Rai, the lease would be only for 1 Rai.

Any pitfalls in this procedure?

[suiging]

It has just taken me about three months to do the conversion you have described with no problems through the Pattaya land office.

[dsfbrit]

It has just taken me about three months to do the conversion you have described with no problems through the Pattaya land office.

Suiging, the pros are obviously that you dont have to put this in a Thai persons name and lease.

So for example in my case:-

- if the land were in my wifes name and we divorced or she Willed the land to her family then I would have connection with the wifes/ family for the remainder of the lease.

- I cannot sell the property without having to get agreement from someone else.

Yours and MalcolmInTheMiddle's method gets around these problems I think.

Is that correct?

If so then are the cons??

Edited November 9, 2006 by dsfbrit

[suiging]

It has just taken me about three months to do the conversion you have described with no problems through the Pattaya land office.

Suiging, the pros are obviously that you dont have to put this in a Thai persons name and lease.

So for example in my case:-

- if the land were in my wifes name and we divorced or she Willed the land to her family then I would have connection with the wifes/ family for the remainder of the lease.

- I cannot sell the property without having to get agreement from someone else.

Yours and MalcolmInTheMiddle's method gets around these problems I think.

Is that correct?

If so then are the cons??

Not sure there are any yet, I'll keep you posted if someone knocks on the door.