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Thread: Chanote

  1. #1
    disturbance in the Turnip baldrick's Avatar
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    Chanote

    has anybody recently changed a chanote between a developer and themselves

    ie. bought a house from a developer and getting the chanote

    I am interested in the costs involved ( percentage taxes etc ) and any other chicanery and/or pitfalls

  2. #2
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    Normally the taxes and charnote name changes are paid by the seller, but the charnote must be over 10 years old.
    You can not change owners for the first 10 years of issue, you can register the new owner, but taxes and transfer fees are payable at the 10 year mark.
    New estates will not have individual transferable charnotes, capital gains thing, they can't assets the value.

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    disturbance in the Turnip baldrick's Avatar
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    Quote Originally Posted by jamescollister
    Normally the taxes and charnote name changes are paid by the seller,
    it was 8 % of the house and land price paid at the land office

    Quote Originally Posted by jamescollister
    New estates will not have individual transferable charnotes
    will have to scrutinise the paper I have

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    Quote Originally Posted by baldrick View Post
    Quote Originally Posted by jamescollister
    Normally the taxes and charnote name changes are paid by the seller,
    it was 8 % of the house and land price paid at the land office

    Quote Originally Posted by jamescollister
    New estates will not have individual transferable charnotes
    will have to scrutinise the paper I have
    There could be different rules for housing estates, but we were thinking of selling some charnote land, land office said no transfer of title for 10 years, they attach a sale receipt to their records and your charnote, which you give to the buyer.
    Makes some sense, as I bought the land for 15,000 a rai, no title, now has industrial/charnote title, worth a lot more then the rice land behind it, how much is a guess, so they don't know the taxable value yet.
    Not a problem really, just the way they do things.

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