Resa Posted May 4, 2017 Share Posted May 4, 2017 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? Link to comment Share on other sites More sharing options...
wpcoe Posted May 4, 2017 Share Posted May 4, 2017 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. Link to comment Share on other sites More sharing options...
Resa Posted May 4, 2017 Author Share Posted May 4, 2017 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). Link to comment Share on other sites More sharing options...
KittenKong Posted May 4, 2017 Share Posted May 4, 2017 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. Link to comment Share on other sites More sharing options...
Minnehaha Posted May 5, 2017 Share Posted May 5, 2017 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? Link to comment Share on other sites More sharing options...
KittenKong Posted May 5, 2017 Share Posted May 5, 2017 1 hour ago, Minnehaha said: Really? how does this work so easily, pls? They send money out and back again, at least on paper. Link to comment Share on other sites More sharing options...
F4UCorsair Posted May 5, 2017 Share Posted May 5, 2017 Role reversal.....Thai wife transferring property to foreign husband. I like it! Link to comment Share on other sites More sharing options...
Tanlic Posted May 5, 2017 Share Posted May 5, 2017 (edited) 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 Link to comment Share on other sites More sharing options...
shady86 Posted May 5, 2017 Share Posted May 5, 2017 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. Sent from my SM-G935F using Tapatalk Link to comment Share on other sites More sharing options...
ThaiWai Posted May 5, 2017 Share Posted May 5, 2017 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. Link to comment Share on other sites More sharing options...
lungnorm Posted May 6, 2017 Share Posted May 6, 2017 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. Link to comment Share on other sites More sharing options...
F4UCorsair Posted May 6, 2017 Share Posted May 6, 2017 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. Link to comment Share on other sites More sharing options...
tonibuergisser Posted May 6, 2017 Share Posted May 6, 2017 You have a good wifeSent from my SM-G930F using Tapatalk Link to comment Share on other sites More sharing options...
elgordo38 Posted May 6, 2017 Share Posted May 6, 2017 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 Link to comment Share on other sites More sharing options...
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