Land ownership? Is it possible ?

Post by **SanBorn** » December 29, 2007, 10:53 am

I keep reading here some board members buying and owning land but to the best of my knowledge, NO foreigners can own land legally.
Some expats own land by putting it in his girlfriend's or wife's name. This can be foolish and dangerous since we all know somebody who got shafted this way. And some do it by creating a company for the soul purpose of owning land and property. However this is also illegal under Thai law. Thai government is not enforcing it now but in the future they can come down hard on expats who did so. Currently they have been looking the other way so that foreigners can bring hard currency to Thailand to enrich themselves in real estate sector.
So let me ask all you smart landlords. How can you own land legally without possible problems later on?

Post by **patriot** » December 29, 2007, 11:16 am

Put the land in girlfriend's (or any Thai persons) name and on the day of purchase/transfer lease off her for 30 years. Both transfer and lease are done at the land office just up from Tung Sri Muang.
It is quite legitimate and your name will appear on the Chanote. This process is possibly the most favourable pre-nuptual agreement for you and spouse. Nevermind about her apparent "loss of face" around the village.
Forget the "Company" method, the slobs in Samui screwed that up for everyone

Post by **arjay** » December 29, 2007, 11:42 am

The method suggested by patriot tends to be popular, but consider the situation, if things subsequently go wrong your relationship, particularly if you are buying in her village!! Would you really want to continue living there, or indeed realistically be able to??

laphanphon · Post by **laphanphon** » December 29, 2007, 12:22 pm

The legal way, not to incur any loss with land purchases in a Thai name. Actually, it

Post by **patriot** » December 29, 2007, 12:23 pm

arjay wrote:The method suggested by patriot tends to be popular, but consider the situation, if things subsequently go wrong your relationship, particularly if you are buying in her village!! Would you really want to continue living there, or indeed realistically be able to??

Top comment; at least an amphur and a half away from the inlaws for a peaceful life!! But surely in Udon, once land is bought and a home set up then life is fine and dandy with divorces/seperations being a rarity .. !!

Post by **Paul Taylor** » December 29, 2007, 3:35 pm

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Post by **patriot** » December 29, 2007, 6:33 pm

Paul Taylor wrote: Did you know?

If they meet special criteria, foreigners can own landed property of up to 1,600 square meters..

Any idea what the "special criteria" are as 1 rai is a decent enough size for a house/home.

Post by **Paul Taylor** » December 29, 2007, 6:58 pm

Still waiting for an answer from the Bank

laphanphon · Post by **laphanphon** » December 29, 2007, 7:16 pm

real thru the fine print 'landed property', i'm guessing that does not include the land.

Post by **aznyron** » December 29, 2007, 9:39 pm

I have in complete house in Sung dow it belongs to my thai wife and the family
I would love to get a 10 year loan to complete it any suggestions since I can not use it the way it is

Post by **aznyron** » December 29, 2007, 9:42 pm

[img]http://www.isarapix.com/my.php?isara=pi ... 198935[img]

Post by **aznyron** » December 29, 2007, 9:42 pm

it seems it not working again for me so screw it

Post by **aznyron** » December 29, 2007, 9:51 pm

Post by **UdonExpat** » December 30, 2007, 9:57 am

The special criteria is 40,000,000 THB in a Thai bank.

Post by **aznyron** » December 30, 2007, 10:21 am

udon if I had 400.000 I would finish the house without kissing some banks azz LOL
between the truck and what I have built so far cleaned me out LOL

Post by **patriot** » December 30, 2007, 4:15 pm

UdonExpat wrote:The special criteria is 40,000,000 THB in a Thai bank.

Oh well; that means another 6 months at work then.

Post by **aznyron** » December 30, 2007, 5:46 pm

Patriot were do you work I want a job there that 40 million baht for six months LOL

Post by **SanBorn** » December 30, 2007, 6:22 pm

A friend of mind who owns his own real estate agency in Pattaya who told me last year that under current Thai law, no foreigners can own land outright in his name but many farangs tried to bypass this by certain "loopholes" but all this loopholes are acturally illegal under Thai law but Thais officers are looking the other way so that we foreigners can bring hard currency to Thailand to make Thailand more prosperous. However when the time come when Thailand doesn't need us anymore they might turn against us. If they want to get us they can do so by cracking down on real estate tricks.

Post by **patriot** » December 30, 2007, 9:24 pm

aznyron wrote:Patriot were do you work I want a job there that 40 million baht for six months LOL

I ran a Tuk-Tuk in Patong !!!! (Thank god I don't live there any more .. yuk ! )

Post by **patriot** » December 30, 2007, 9:27 pm

SanBorn wrote:A friend of mind who owns his own real estate agency in Pattaya who told me last year that under current Thai law, no foreigners can own land outright in his name but many farangs tried to bypass this by certain "loopholes" but all this loopholes are acturally illegal under Thai law but Thais officers are looking the other way so that we foreigners can bring hard currency to Thailand to make Thailand more prosperous. However when the time come when Thailand doesn't need us anymore they might turn against us. If they want to get us they can do so by cracking down on real estate tricks.

Exactly, Sanborn. I think we come back to the 30 year lease (+ +) every time. Legal 100% and YOUR name is on the Chanote.