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Nawty

For resident lawyers and anybody that has a lawyer like opinion.

The second term of a 30 year lease is not legal, not enforcable and basically at the mercy of the lessor. Up to him really.

Then, dependant on how your lease is written and what is in it, is again down to what you get back at the end of it for the buildings which can be removed as they are the only thing you can own outright.

You can write in various agreements as to buyback and so and so and such and such, but....

I would like the opinion from someone legal like on a lease that I have, not mine, given to me by someone and it is for the leasehold properties in Phuket for Mon Tri properties, some of you may know of these, very upmarket properties, i believe the latest stage is/was in the regions of 100 million baht etc.

Anyway, these are all based on leasehold and 2 extensions.

The way it is worded after a brief read and I never absorb all the mumbo jumbo gobbilty gook on the first read, but the lessor has written into it that the buyer or lessee for legal issues, has already paid the lessor a substantial fee for a successfull renewal of the secondterm 30 year lease. By substantial I am talking in the millions of baht, not hundreds.

Now this fee is not actually paid as an on top of the purchase price, it is simply taken as being paid in the form of the purchase price, but written up seperately for this purpose.

If the lessor or its heirs, successors, transferees etc etc dishonour the transfer, then they are by way of agremment liable to repay this fee in full plus an interest component of I think it was 10% per year and until recitified, so essentially 30 years ++.

What do you think of this type of deal and if anyone with legal expertise would like a copy to read it and qualify...just ask.

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