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BANGKOK 23 April 2019 11:39
karl2007

Buying a condo with Thai wife what protection do I have

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8 hours ago, madmen said:

"The condo marked is going to have a an adjustment soon"

TV experts have been saying this for the last 20 years along with  " the baht will  implode"

They couldn't have got it more wrong!!

 

 I have friends that missed incredible buying opportunities when I bought lower sukhumvit  thirteen years ago after buying into the TV bar stool annalists... Now they have been completely priced out of the market as the sales boom continues as prices are pushed up to multiples of what I paid. They now stuck in the rental merry go round

You were lucky to buy at a low. Doesn't mean there will never be a top.

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I'm buying a house in Thailand and I've said over and over again NEVER BUY, RENT.

 

Depends, on who you are married to (True in every country in the world).

 

The price is 1.9M (custom 3/2 home, 10 min walk from a hot springs 😊)...

 

Her parents are LOANING me 100K.

 

My wife is "buying in" with 100K.

 

I'm kicking in 1.7M.

 

HELL YES I'M KEEPING RECEIPTS.

 

Life is a risk.  If I should lose everything, I can still rent a "mansion" studio apartment for 3000B a month.

 

No big deal.  What do I have to lose? 😉

 

 

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2 minutes ago, SiSePuede419 said:

What do I have to lose?

Only money, but your post shows that you are aware of the risk, and are prepare to live with it.

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Just spoke to a lawyer about buying a condo with money that I have earned within Thailand. Basically, You can't own it and you have to sign a document at the land office that the money that my Thai wife used didn't come from the foreigner. Also, if later you get a divorce this contract will void any rights you have to property. 

 

However, I was told by the lawyer and I hope someone can confirm this on here. If you transfer 50% of your money for the property you can use that money to purchase 50% of the property and my wife does the other 50%. This way you can own 50% of the property and have your name in the title deed. Can anyone confirm this?

 

Also, what are the requirements for transferring the money.

 

Does it have to be transferred within a certain time?

Does it matter who's foreign bank account the money comes from? I was going to transfer to one of my family members account for them to transfer back to my bank account in Thailand

 

 

 

I

Edited by karl2007

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13 hours ago, Hummin said:

 The condo marked is going to have a an adjustment soon, so I would wait. 2. I would save up for 100% financial payment myself, or make a bank loan for the rest of the payment in her name, but you pay. Get everything 100% in your name just for the simplicity of the whole situation if somethings goes wrong with the relationship or something happens to her or you for that sake. 

 

I thought the money have to come from abroad only matters if you are going to transfer the money out of the country one day? 

 

At the moment it is better to rent than buy, my two cents. Of course depends on where you want to buy and live. 

 

Keep investments and love seperated. Many girls just wait for getting that little power to keep you as hostage 😉 

in my understanding, in case there is no prenuptual, it is indifferent whose name is on the title deed, or on the bank account.
Then, did you marry legally, i.e. paper from townhall, or religious ceremony only. ?

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Re : buying a Condo with Thai wife ... ... ... 

thought one would have to buy with money,
but if one can trade the trouble and strive ..... maybe more apartments would be sold 🤑 😉

Edited by KKr

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On 2/24/2019 at 8:24 AM, ozmeldo said:

I'd put it in your name and create a will with her as beneficiary.

Are you insane? In a condo living on height?

I think the only wise thing to do is buying the condo in your own name because even if you do split up, you still have to pay her the 20% back regardless. 

You should even have a fair chance of getting a small mortgage on the remaining part.

Let her buy a cheaper condo on mortgage and rent it out, then she is paying back something on her own as well.

 

But isn't it the case that you have to share the property with her regardless if you divorce? As you buy it now while already being married?
And terrible timing to consider buying a condo right now. You could have up to 40% discount in the near future.

Edited by tabarin

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8 hours ago, KKr said:

in my understanding, in case there is no prenuptual, it is indifferent whose name is on the title deed, or on the bank account.
Then, did you marry legally, i.e. paper from townhall, or religious ceremony only. ?

No marriage except a small family ceromony where family accepted us as a couple. My reprensentative was the village chief since I had no family members or friends with me. 

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8 hours ago, Hummin said:

No marriage except a small family ceromony where family accepted us as a couple. My reprensentative was the village chief since I had no family members or friends with me. 

what is yours is yours then.
Try to keep it that way,
unless you intend to be married in which case a tight pre-nup is appropriate. 
If this is a true interest in you as a person, then she'll not care.
But probably she would like to see a gesture of seriousness on your part.
Like half an apartment,
but add a usufruct so you can stay there, or rent it out, in case it does not work out.

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I have spoken to a lawyer, and I just wanted to confirm this. In order to have my name on the title deed, I only have to transfer 50% from abroad into my Thai bank account. That way we would own 50% each.

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If it's all your money and you are not legally married, then you can transfer 100% of the money out, and back in, then you own it outright.

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Developers and banks are so crooked! I once knew a massage girl who got a 5 million baht loan for a house in Phuket ! The foreigner just pays the loan for her and he has some worth that’s not worth getting rid of . Does your wife work ? If so get her to apply for a mortgage . Put a small deposit down (whatever may be required by the bank) then you will be worth more alive then dead ! 😉 

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