Thread: How safe are mortages as security in Thailand?

well if you think you know it all and better than Thai top lawers and me, than you will be right... :P

Anyway, back to topic, why you even want to buy a land and build a house, if you and it look like not 100% trust your wife, which is understandable in Thailand, than just buy a Appartment (on your own name, but make sure that less than 50% of total space of Apartmetn tower is Farang owned) or just Rent something for a few years, or just go and take a risk.......

Originally Posted by GoodMyFarang

well if you think you know it all and better than Thai top lawers and me, than you will be right... :P

Anyway, back to topic, why you even want to buy a land and build a house, if you and it look like not 100% trust your wife, which is understandable in Thailand, than just buy a Appartment (on your own name, but make sure that less than 50% of total space of Apartmetn tower is Farang owned) or just Rent something for a few years, or just go and take a risk.......

sorry to say but your lawyers have given you wrong information , 30yr lease is the max.. you cannot get 30yrs plus 30yrs ,,if your man is telling you this little porky what else has he fed you ...

I believe that in Thailand anyone can practice law. The thing they can't do is represent someone in a court of law unless certificated.

Lol, you realy think that all foreigner investors like Hotel/Automotive/Banks etc. would build Factorys or Hotels on a land which not belong to them?

Ofc you can buy land, maybe not in small scale but if you willing to take a bit money in hand you will be able, as long as it get approved, and BOI (if you guys even know what is that :P ) is best way to do it.

Also you can buy unlimit land in any Industrial Estate (exept Goverment owned and Farm land) and sometimes they have plenty of land available even far away from any Factory and in Good locations, its a bit more expensive but you can own it (its about 2,5-6mio. THB per Rai, depent on Area)

Rental Contracts maybe not possible anymore for 60 (30+30)years now, but it was 1998 when I did mine, and of corse its valid and legal.

For most items 30 years enough anyway, unless we getting 120 years old....

GMF

Originally Posted by Thetyim

I bought a house from the bank.
It was the first repo that branch had managed to complete in 15 years and they had hundreds on their books.

Sorry , could you clarify that ? Do you mean that the bank in question had already repossed hundreds of properties over a 15 year period , yet never managed to resell one of those repossesions until you bought one of them ?

Thetyim always tells the truth, with a smile.

Ok, noobs, just after your telling me that +30 years lease is worth nothing, did check with BOI and Land Department in BKK and got a official Goverment Certificate that it is Valid, so I rent that land until 2061 for 100THB/month.

But you right its not possible anymore, now only 30 years are done, but when I sign it 2001 it was possible and according law, and of corse existing Contracts cant be changed.......

Also you stil can get more than 30 years in Yones which are supported from Ministery of Industrie, as well as you can buy that land leagaly and also use for comercial propose.

Cheers and happy x-mass,

if you're not thay sure about your relationship
better to rent ,,,no ?

Originally Posted by GoodMyFarang

well if you think you know it all and better than Thai top lawyers

Surely an oxymoron?

There is no foolproof way of safeguarding your interests 100% in Thailand as a farang.

These lease deals may well look attractive but there is nothing to stop the lessor from selling his interest onto a third party who subsequently chooses to ignore the terms of your lease, particularly when that third party is connected and has bigger ' top lawyers ' than you may have.

Usufructs are all well and good but should one's worthy spouse enter the arms of Buddha on a more permanent basis her family may well have different ideas about the niceties of legal agreements. A farang cannot inherit land and has, I believe, one year in which to sell a property ( the house, that is ) if there is no usufruct in force.

As Dog et al say, it's best to rent and retain wealth elsewhere. If spouses are concerned about future security, and who is not, then either jointly purchase a property in a safe jurisdiction or squirrel funds away in bonds etc. Inheritance laws protect her interests although one's own future may be somewhat coloured thereby.

Ok, I look how it work, and check it out on Gov Web side.

1.) You found a 100% foreigner owned Company (yours), getting BOI3 approval and invest more than 200K (8mioTHB) or equivalent in it

2.) Showing two Yearly balance sheets which make profit (at least 5% of turn over) and showing your persional Income Tax in Thailand (to be at least 250k on Tax)

3.) BOI3 entitle you for buy any kind of Land for business use + 1Rai of land to build a house for Excecutive Managment (be aware you cant use original 8mTHB to do that, nor to build house, it has to come from Offshore)

4.) You get 1 Rai (1600m2) (Enough for 2 nice Villas) of Land under your 100% controll and on your name, so dont tell me its not possible......

5.) please forget or avoid that 49-51% setups which many Landlords offer, that can really backfire and its in greey zone......be carefull, than better rent or buy an appartment.......

Originally Posted by GoodMyFarang

Why not just own they house? You cannot own land but of course you can own house and get a proforma rental contract of 30+30 years for land, so if G/F not perform anymore or you want get her out its easy, and you can rent it out to some1 else, or live in it, what ever you want.

Makes me laugh out loud when someone decides to apply western logic to distinctly Thai situation.

This same scenario has been played out a million times where farang pays for everything and is set adrift.

If you refuse to hand over the house or fok off when the shit hits the fan its all too easy for the Thai girl to arrange to have you visited by a few of her male friends usually with a gun in there pocket.

Jeezuss, when are these guys going to learn the lay of the land ?

Do what you want but just fok of with fok all when she turfs you out.

End off.

Originally Posted by chitown

Just get the loan in her name from a Thai bank. If you and her split, then she owes the bank and not you. If she gets a loan in her name, you can make the payments until the relationship ends. You would be paying rent otherwise.

Thank you much and this is the alternative for dudes that really have to purchase a house for the loved one.

Loan in her name, you pay minimum repayments, she foks you off she gets lumped with the loan.

Brilliant.

I mean if one has half a brain one must seriously consider the end game if a breakdown occurs.

If it doesn't well and good but be prepared.

Originally Posted by chitown

Same as me - 3 bedroom 2 bath, Western kitchen, living room and dining room for 6k a month rent. Can buy it and have payments for 18k a month. It is really a no brainer.

The thing is you never know who your neighbors might be. If you buy a house and some low rent Thai idiots move in next door with 12 dogs, 15 family members and 4 food carts you are stuck. If you are renting you can move straight away - which I have 3 times in 8 years.

I salute you Sir and want to be on your team.

A very wise man indeed.

Originally Posted by GoodMyFarang

Ok, noobs, just after your telling me that +30 years lease is worth nothing, did check with BOI and Land Department in BKK and got a official Goverment Certificate that it is Valid, so I rent that land until 2061 for 100THB/month.

But you right its not possible anymore, now only 30 years are done, but when I sign it 2001 it was possible and according law, and of corse existing Contracts cant be changed.......

Also you stil can get more than 30 years in Yones which are supported from Ministery of Industrie, as well as you can buy that land leagaly and also use for comercial propose.

Whatever mate, miss or who ever the fok you are.

The bottom line is that its near on impossibly to trust a Thai when big money is involved.

The Farang is there to be sacrificed and all the legal speak in the world don't mean fok all when it comes to the mighty baht.

We will be rogered hard when things go pear shaped.