My wife wants to transfer her condo to me. What is the process?

[Resa]

My wife bought the condo last year but now it should become my property. What is the process to make this happen? Do I need to pay my wife or do we need to pay transfer fees?

[wpcoe]

Is your wife Thai?  Are you?

 

It can often be a problem finding allocation in the 49% foreign-owned quota to change from a Thai- (or company-) owned condo to a foreign name.

[Resa]

I read some more and understand now I need to qualify and bring in the money for the condo even if she gifts it for me. Stupid situation because we have the money in Thailand (she runs our company and she makes all the money officially).

 

[KittenKong]

1) As mentioned, assuming that your wife is Thai and you are not then there would need to be availability in the farang allocation. The building front office will know. Ask them.

 

2) Fees and taxes will be payable. It is a sale.

 

3) No money has to actually change hands (apart from the fees/taxes) and your bank should be able to help with the FET form requirements without you actually having to transfer more money in. They will charge something for this. Ask them.

[Minnehaha]

14 hours ago, KittenKong said:

 

3) No money has to actually change hands (apart from the fees/taxes) and your bank should be able to help with the FET form requirements without you actually having to transfer more money in. They will charge something for this. Ask them.

Really? 

how does this work so easily, pls?

[KittenKong]

1 hour ago, Minnehaha said:

Really? 

how does this work so easily, pls?

 

They send money out and back again, at least on paper.

[F4UCorsair]

Role reversal.....Thai wife transferring property to foreign husband.  I like it!

[Tanlic]

18 hours ago, Resa said:

I read some more and understand now I need to qualify and bring in the money for the condo even if she gifts it for me. Stupid situation because we have the money in Thailand (she runs our company and she makes all the money officially).

 

If you have already transferred money into Thailand you can ask your bank for a letter certifying that amount came from outside the country in $$$$ or whatever and you are buying a condo with it

 

You then sell for that amount or less.  The land office will have an estimate of the condos value and they couldn't give 2 hoots how much your wife sells it for you will pay tax on their assessment. No harm in asking them what happens if she sells it to you for 10 baht.....was doing real estate for years and I don't have a clue tbh never came across an angel before lol

 

1. As mentioned make sure there is only 49% or less ownership in the building

 

2. Take a copy of the chanote to the land office (like tomorrow) and ask them how much tax will be due. They will ask the selling price but you will now exactly where you stand....Rules do change now and then..this is Thailand

 

3. When you are ready to tranfer get a letter from the juristic person in your building saying all bills are up to date and the farang quota is ok

 

4. Take a cheque made out to your wife for the amount of sale.they will ask to see it.

 

 

 

 

Edited May 5, 2017 by Tanlic

[shady86]

Or you can ask your wife to add you as a co owner of the condo. That would be much easier, just pay 200b? If I'm not mistaken.

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[ThaiWai]

1 hour ago, F4UCorsair said:

Role reversal.....Thai wife transferring property to foreign husband.  I like it!

It's not a true reversal until she flies from the roof.

[lungnorm]

15 hours ago, F4UCorsair said:

Role reversal.....Thai wife transferring property to foreign husband.  I like it!

Read the post again and the additional posts. His wife makes the money on her business. Question is it her business or a business his money set up? Seems a bit different to the normal run of the mill.

[F4UCorsair]

37 minutes ago, lungnorm said:

Read the post again and the additional posts. His wife makes the money on her business. Question is it her business or a business his money set up? Seems a bit different to the normal run of the mill.

 

You took me too seriously.

[tonibuergisser]

You have a good wife

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[elgordo38]

On 5/4/2017 at 11:39 PM, Resa said:

I read some more and understand now I need to qualify and bring in the money for the condo even if she gifts it for me. Stupid situation because we have the money in Thailand (she runs our company and she makes all the money officially).

 

Talk about winning the lottery of love Jackpot