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ChokDee4213

Is there any way I can safely invest in my wife's land if it is still under loan?

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Wife and I got our marriage registered shortly after she purchased land and house for us under a bank loan. We are (she is) in year 2 of the 30 year loan and payments will increase step-by-step. We want to try and make this 50/50 in terms of loan payments, renovations/additions, and protection in case of death or divorce. Is there any way this is possible? My biggest fear is her having an accident and me losing her along with everything we would have built together. She would like for me to be able to invest more than standard rental fees in our future as well.

 

I am assuming a usufruct agreement would not work as the house is still under loan from the bank. Even still, I do not have a lump sum of money to give her to compensate such an agreement. We are both young and need a solution that accommodates steady long-term investiture.

 

If anyone has experience with this, or knows a reliable lawyer, I'd appreciate any insight you can offer. Thanks for reading!

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I think you have answered your question in the topic title "wife's land" especially as purchased befor marriage so is regarded as Sin Suan Tua under Thai law.

A last will and testament will cover in the event of death. Most loans/mortgages in Thailand have a hefty upfront insurance fee so should cover any outstanding debt which be be outlined in the agreement.

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Furthering speculation: I wonder if it is possible for wife to leave the house to me in a will, then sell the house to her family if they enter a usufruct agreement. Still wouldn't protect me in the case of divorce.

 

She might just have to be on her own in this case.

 

Gotta love nationalist laws like these. Gotta keep the bloodlines pure.

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She can lease it to you for 30 yrs and that can be notedon the Deed in the land office

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I thing Charlie H covered it pretty well.Go together to a good lawyer.

Keep in mind that there is a possibility that you can lease on a 30 + 30 basis which protects you to some extent.

In my case the relationship with my wife"s family is such that they would not make me homeless, but yes, even if you are the beneficiary in her will you will only have 1 year  (+6 months extension) to sell 

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13 hours ago, Captain 776 said:

She can lease it to you for 30 yrs and that can be notedon the Deed in the land office

An unmortgaged property can be leased, I doubt that the owner (the bank) will agree to a lease on a mortgaged property

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Thanks for the advice, you guys. Does anyone know a good lawyer? Perhaps consultation via Skype as I am in rural Buriram.

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