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Buy a house when married = no control over it?

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4 hours ago, biggles45 said:

Always bear in mind that no matter what structure you use to purchase a house, legal or otherwise, if your wife or her family want you out they will get you out. Threats, intimidation, violence all done with no redress from the police or courts. Seen it several times

 

 Spot on matey , this  30 year lease or whatever name it is given is crap.

     Thai family , and  brother move in ,  goodbye  farlang , or die .

 

 

Edited by elliss
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On 2/17/2019 at 1:15 PM, ThomasThBKK said:

Nothing is illegal if setup correctly when it comes to holding structures, preference shares and usufruct. 

 

All that is backed by thai law and multiple decisions in the Supreme court. 

 

There are multiple things that are illegal as having a nominee structure, a company that just exists to own land... But all these things can be done correctly and every big company is either using that or a BOI. 

 

Usufructs have also been challenged in supreme court multiple times and it was ruled they are totally legitimate and can be issued for lifetime to foreigners. 

 

There's a lot of half truths and just factually wrong infornation in here. 

 

BUT none of this helps if you are married already - especially without a prenuptial agreement. 

 

All your company shares and your wifes will be owned by both of you and so is the usufruct, the usufruct could even be cancelled if you are married already. 

 

 

You are out of luck if married if you want to protect your after marriage assets from your wife imo. 

 

 

 

you are quite right. Done legally it is just that, legal.  When my wife, daughter and I set up our company for property ownership, we used an international law firm with a Bangkok office, Freshfields Bruckhaus Deringer.  It wasn't cheap, but it ensured that what we were doing was within the law. We have since had the company audited by the Thai Department of Development and they have no issues with it.  Every year we submit accounts and pay tax.  If you use proxy directors, you are asking for trouble. 

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On 2/16/2019 at 4:43 PM, ThomasThBKK said:

That's wrong. 

 

It makes a giant difference. Every shareholding after marriage, everything you buy while Married she also owns and vice versa. 

 

That is wrong!!!

Everything what is bought during the marriage is 100% yours if you have statements that it was paid with YOUR money what you had BEFORE you married. Only belongings what is bought with money what you/she earned in the marriages time is 50/50. 

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48 minutes ago, Pilotman said:

you are quite right. Done legally it is just that, legal.  When my wife, daughter and I set up our company for property ownership, we used an international law firm with a Bangkok office, Freshfields Bruckhaus Deringer.  It wasn't cheap, but it ensured that what we were doing was within the law. We have since had the company audited by the Thai Department of Development and they have no issues with it.  Every year we submit accounts and pay tax.  If you use proxy directors, you are asking for trouble. 

 

Yes and besides that u dont even need to use ur gf as a shareholder - use a business partner, thai-foreigner friend, account or whoever else...

Quote

Everything what is bought during the marriage is 100% yours if you have statements that it was paid with YOUR money what you had BEFORE you married. Only belongings what is bought with money what you/she earned in the marriages time is 50/50. 

 

yeah thats true, i meant stuff that u buy after u are married, that could easy be marrital property.

you would need to proof it's a personal asset, might work if it was paid with an oversees wire in your name. the main issue is that if the land department notices your wife is married they force u to sign a document that states that her money was used to purchase this - and they are not flexible on that bs document...

better to not have your wife listed anywhere in the shareholdings at all

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12 minutes ago, ThomasThBKK said:

 

Yes and besides that u dont even need to use ur gf as a shareholder - use a business partner, thai-foreigner friend, account or whoever else...

 

yeah thats true, i meant stuff that u buy after u are married, that could easy be marrital property.

you would need to proof it's a personal asset, might work if it was paid with an oversees wire in your name. the main issue is that if the land department notices your wife is married they force u to sign a document that states that her money was used to purchase this - and they are not flexible on that bs document...

better to not have your wife listed anywhere in the shareholdings at all

We used funds in a UK joint account held in the UK, no problem proving it's my wife's money.  For our daughter,  she was loaned the money on a no interest basis by her parents (us), to be paid back over 20 years. All legit and notarised by the FBD London office.  

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16 minutes ago, Pilotman said:

We used funds in a UK joint account held in the UK, no problem proving it's my wife's money.  For our daughter,  she was loaned the money on a no interest basis by her parents (us), to be paid back over 20 years. All legit and notarised by the FBD London office.  

Off topic a bit, but that’s pretty sweet that parents can make 0% interest loans to their kids in England.  In the US, there is a minimum interest rate that parents can charge (can’t remember what it is, but not exceedingly low) and then the parents have to pay income tax on the interest income from their kids.

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17 minutes ago, Airalee said:

Off topic a bit, but that’s pretty sweet that parents can make 0% interest loans to their kids in England.  In the US, there is a minimum interest rate that parents can charge (can’t remember what it is, but not exceedingly low) and then the parents have to pay income tax on the interest income from their kids.

If the children default the loan, is the outstanding balance then considered a loss and can be deducted from your taxable income?

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1 hour ago, snowgard said:



Everything what is bought during the marriage is 100% yours if you have statements that it was paid with YOUR money what you had BEFORE you married. Only belongings what is bought with money what you/she earned in the marriages time is 50/50. 

 This is 100% correct

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3 hours ago, jackdd said:

If the children default the loan, is the outstanding balance then considered a loss and can be deducted from your taxable income?

Hmmm....never thought about that.  Interesting idea, but I’d be willing to bet that the IRS would never be so generous.  

 

Edit: just looked it up.  It appears that it is deductible if entered into properly with all the supporting documents.

 

https://www.creditcards.com/credit-card-news/loan-bad-debt-deduction-friends-family-1282.php

Edited by Airalee
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Forget company ownership.  To much hassle and money. Have a son or daughter, then buy in their name

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Get one of these “Baan Knockdown” homes.

They can build the house, then put it on your wifes land. You will own the house yourself, 100%. If things go bad between you and the wife, just pick up the house and move it somewhere else. 🙂

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On 2/16/2019 at 9:42 PM, Delight said:

 The simple solution is to buy a house via company.

If this company is set up correctly ,then you will have 100% of the voting rights and 100% control. Even if you gave your wife say 25%  of the shares-that act of apparent generosity changes nothing.

There are 2 issues to consider

1) If you at some future date you  sell the house-will your wife vacate the property willingly.

2) In the event of a divorce you will need an audit trail of the monies used to buy the property. If you can satisfy a judge that the money was yours prior to the marriage -then you will keep that amount of money post divorce. A good lawyer is required.

  Selling your property is simple-assuming that you have a buyer.

 Most important that the proceeeds for the sale are deposited outside Thailand -unless you are happy to keep them in Thailand.

 

  Some say buying thru a  company is dangerous. You are on your own with that one.

 

 

 

This is an illegal construction for foreigners.

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