
Delight
Advanced Members-
Content Count
1,773 -
Joined
-
Last visited
Community Reputation
441 ExcellentAbout Delight
-
Rank
Super Member
- Birthday 02/14/1945
Previous Fields
-
Location
Pattaya
Recent Profile Visitors
10,240 profile views
-
Paying Monthly Amortization
Delight replied to spacepass338's topic in Real Estate, housing, house and land ownership
Most foreigners -who purchase property do not work in Thailand. Therefore obtaining a mortgage is not possible. Those who do work in Thailand -can probably obtain a mortgage-maybe. The banks generally have a bad time taking back the property when it is obvious that property owner has no intention of paying any more money. -
The fact of the divorce is irrelevant in this circumstance. The simple fact is the fees have not been 100% paid and the Thai lady is making up her own rules. With respect to inheritance -if -in more normal circumstances-one of the parties were to die -then then remaining party will own 100% of the apartment. This I read. This outcome will probably explain why the JPM insists that the Thai lady is responsible for 100% of the fees. She or she /he have to pay 100%. The whole situation relating to joint ownership of an apartment in a condo is
-
close company put condo in sons name
Delight replied to Harveyboy's topic in Real Estate, housing, house and land ownership
When you say 'transfer to foreign' I assume that you mean transfer to yourself. The cost of transfer is as I indicated before. Reference ease of sale. Most foreigners will prefer to buy an apartment in an existing company as distinct from Thai owned. No new company to set up.No transfer fees. Easy and cheap. If an apartment has been in a company for years and all the audits are up to date-then to my mind it is very stable . If around 49% of the apartments are in foreign name -then I would leave it in a company. If -however -over the years- the condo has become -
close company put condo in sons name
Delight replied to Harveyboy's topic in Real Estate, housing, house and land ownership
Assuming that this process was successful-then there will be 2 areas of cost. 1) Transfer from the company to a Thai citizen(i.e. your son) Transfer charges will apply. Probably about 6% of the appraised value of the apartment.Maybe a bit less than 6% . The appraised value appears on the paper associated with the Condominium Title Deed. Chanotes only apply to land. 2) Closing down the company. This part can be expensive. I hear costs of 100K Baht. Others can probably provide more up todate info. Then ,at the end of the day ,the condo ends up in a Thai name.