Should I buy a house in my daughters' name ?

[noopin2014]

Hi,

Could you tell me if it's possible to buy a land on my daughter name who has the thai nationlity ? She is 5 years old and we don't plan to sell this land in the future.

 

Best regards
 

[BEVUP]

Yes, as long as it's paid in full - Also someone has to be Guardian till she is 20 yr old - You wont be able to sell or mortgage, as you will need court permission

my family's property is in my sons name so the rest of the family can't get their grubby hands on it & also the fact he owns it prior to any relationship

[Rayinbkk]

A couple of related questions, in case anyone knows.

1. A Thai child owning property has to have a guardian until the age of 20. Can the guardian be a foreigner?

2. What happens if the guardian dies before the child reaches the age of majority? Would the guardianship automatically pass to the Thai mother, who could then get a court order to liquidate the property on the grounds that the resources are needed to support the child? Or can the foreign guardian appoint a different guardian in his will?

[Lucky mike]

Never thought I would say this but it is time for a competent lawyer !

[Confuscious]

15 hours ago, BEVUP said:

Yes, as long as it's paid in full - Also someone has to be Guardian till she is 20 yr old - You wont be able to sell or mortgage, as you will need court permission

my family's property is in my sons name so the rest of the family can't get their grubby hands on it & also the fact he owns it prior to any relationship

 

I have trough the same ordeal as you, and finally decided NOT to buy anything in Thailand.

Ask yourself these questions before deciding:

1, You buy the land/house for the kid and somebody is named as a guardian.
    Legal it is not permitted to sale the property, but assume that somebody in the family decide to sell it and take the money.
    You will have to go trough lenghty and costly court procedures to claim the property back.
    Is the property worth that?
    Are you willing to go trough these court cases?
2. As Rayinbkk said before, what happens if the guardian dies before the child reaches the age of majority? Would the guardianship automatically pass to the Thai mother, who could then get a court order to liquidate the property on the grounds that the resources are needed to support the child? Or can the foreign guardian appoint a different guardian in his will?

It's your money.
 

[Konaboy1]

forget it, set up a trust for some land in the west. There are competent lawyers in the west  and the rule of law

I say again. Don't do it.

[williamgeorgeallen]

it is a good system long term but leaves little flexibility if there is any change in circumstances. better to play it safe and rent. assets generally preform better int he west and are far safer.

[DLang]

Yes, buy it in your child's name.

 

Or maybe easier to buy a house already built, as opposed to land and building.

 

Step 1) Get a Usufruct from the owner before transfer of sale. This is a usufruct for you to have full control of the land and property until you die.

 

Step 2) Then get it transferred to your child's name.

 

They own it, you have a usufruct on it for the rest of your life.

 

 

You do the usufruct first as some Land Departments won't give a usufruct to someone when their child owns the land.

[khunPer]

1 hour ago, Konaboy1 said:

forget it, set up a trust for some land in the west. There are competent lawyers in the west  and the rule of law

I say again. Don't do it.

It's been said many time before in various forum-posts, when talked about heritage and property, that one cannot set up a Trust in Thailand – never heard anybody arguing against these statements... 

[khunPer]

1 hour ago, DLang said:

Yes, buy it in your child's name.

 

Or maybe easier to buy a house already built, as opposed to land and building.

 

Step 1) Get a Usufruct from the owner before transfer of sale. This is a usufruct for you to have full control of the land and property until you die.

 

Step 2) Then get it transferred to your child's name.

 

They own it, you have a usufruct on it for the rest of your life.

 

 

You do the usufruct first as some Land Departments won't give a usufruct to someone when their child owns the land.

Also check Superficies, which might be more what OP is looking for. There is a good overview here about the various possibilities of lease, usufruct, superficies etc.

 

And yes, very important, have any documents – lease, or usufract, or superficies, or... – made and registered on the Title Deed at the Land Office before the property is transferred to a minor.

 

However, it's still pretty much a question of common sense – and to a certain degree about relationship and trust – when buying land (or property) in Thailand. My half Thai child owns both land and company shares under guardian, so I know it easily can be done. I'll always recommend to consult an English speaking lawyer, and experienced in property rights; also in question of guardian, and which agreements eventually shall be made (with a Thai mother), if for example a foreign father (parent) only shall be the guardian.

 

My best early advise about Thailand was: »Do it right the first time« – which is so true; it can be almost impossible to correct a mistake later...

[Hans Rayong]

Buy the house in the child's name.
My two children own the house we live in. The children's parents are both guardians. If dad dies, mom becomes lone guardian. If she wants to sell the house, she must turn to court. Normally, the only reason that court allows her to sell the house, is that money is needed to pay for food and school for the child. Get a life insurance that pays out monthly to your child, then it will be enough money for food and school for your child and the mother cannot sell the house.

[noopin2014]

well said, thanks for your advice mates !

[BEVUP]

8 hours ago, Rayinbkk said:

A couple of related questions, in case anyone knows.

1. A Thai child owning property has to have a guardian until the age of 20. Can the guardian be a foreigner?

2. What happens if the guardian dies before the child reaches the age of majority? Would the guardianship automatically pass to the Thai mother, who could then get a court order to liquidate the property on the grounds that the resources are needed to support the child? Or can the foreign guardian appoint a different guardian in his will?

1. From what i have read it is possible but this being Thailand the Land department will start to auto to the Thai mother as Gaurdian so i wouldn't take any rubbish if possible for Falang 

2. I guess you can't do anything about it as there would be so many story lines available

[BEVUP]

7 hours ago, DLang said:

Yes, buy it in your child's name.

 

Or maybe easier to buy a house already built, as opposed to land and building.

 

Step 1) Get a Usufruct from the owner before transfer of sale. This is a usufruct for you to have full control of the land and property until you die.

 

Step 2) Then get it transferred to your child's name.

 

They own it, you have a usufruct on it for the rest of your life.

 

 

You do the usufruct first as some Land Departments won't give a usufruct to someone when their child owns the land.

1. Absolute rubbish - the only control you have is to keep the property beautiful for 30 yrs - The owner can sell or mortgage anytime they like = Refer back to post 5

But only a court would allow the Title holder to do the above if a child is involved

[khunPer]

25 minutes ago, BEVUP said:

1. Absolute rubbish - the only control you have is to keep the property beautiful for 30 yrs - The owner can sell or mortgage anytime they like = Refer back to post 5

But only a court would allow the Title holder to do the above if a child is involved

If it's a Usufruct for life, it's depending if you live another 30 years or even more, then the Usufruct will last longer than 30-years – that's the little scaring thing about Usufruct, as one in worst scenario may be worth more dead than alive – the owner can do whatever the owner want with the land, but the rights of Usufruct will not be changed; therefor #1) is in principle correct, to my knowledge...

[BEVUP]

1 hour ago, khunPer said:

If it's a Usufruct for life, it's depending if you live another 30 years or even more, then the Usufruct will last longer than 30-years – that's the little scaring thing about Usufruct, as one in worst scenario may be worth more dead than alive – the owner can do whatever the owner want with the land, but the rights of Usufruct will not be changed; therefor #1) is in principle correct, to my knowledge...

The last comment is exactly right as I am in this situation now but have not been back to the said property for 3 yrs

As the property now has a second owner who can't dispose of it due to the Usufrut I posted a Topic looking for advice but i presume no one or not many has been in this situation 

I wanted to lease property to lay a boot in for them taking it on (Im not really worried as i'm in a different pasture now )

So people be aware as a Usufrut is not the bees knees