Exiting the condo market or executing a will

[Bikeman93]

Has anyone ever sold their expat condo in Thailand, if so what are the tax and fees?

 

Anyone ever hear of a blood family member inheriting one in the event of the owners passing away?

[trogers]

I have inherited the condo from my late father, non-Thai to non-Thai. I was the executor and beneficiary of his will written and signed in Thailand.

 

The will had to first be submitted to the Thai court together with other documents such as copies of death certificate, passports, etc. to get a court order appointing me as the executor of his will. A Thai lawyer would be able to guide you on this procedure.

 

There is no need for a new FET to transfer from non-Thai to non-Thai. Problem only arises when transferring from Thai to non-Thai.

[Bikeman93]

Just now, trogers said:

I have inherited the condo from my late father, non-Thai to non-Thai. I was the executor and beneficiary of his will written and signed in Thailand.

 

The will had to first be submitted to the Thai court together with other documents such as copies of death certificate, passports, etc. to get a court order appointing me as the executor of his will. A Thai lawyer would be able to guide you on this procedure.

 

There is no need for a new FET to transfer from non-Thai to non-Thai. Problem only arises when transferring from Thai to non-Thai.

Any transfer fees?

 

And it says something about having to dispose or sell the condo after 1 year. No?

 

And what year was it first purchased and year transferred?

 

Thanks, The condo act is difficult to decipher.

Edited May 14, 2017 by Bikeman93

[trogers]

2 hours ago, Bikeman93 said:

Any transfer fees?

 

And it says something about having to dispose or sell the condo after 1 year. No?

 

And what year was it first purchased and year transferred?

 

Thanks, The condo act is difficult to decipher.

Only transfer fee of 2% of assessed value applies. It's not treated as a sales, for transfer of an inheritance to blood relatives.

 

Bought in 2008, and transferred last year. A condo owned by a non-Thai with an FET, can be willed to a blood relative who is either a Thai or non-Thai without contravening the Condo Act. So that one year to dispose of the property does not apply.

 

 

Edited May 14, 2017 by trogers

[12DrinkMore]

On 5/14/2017 at 7:21 AM, trogers said:

There is no need for a new FET to transfer from non-Thai to non-Thai. Problem only arises when transferring from Thai to non-Thai.

 

Interesting, that flies in the face of what has been posted on Thai Visa.

 

I hope a couple more can confirm it, and that it is not simply a more flxible land office you dealt with.