lopburi3 Posted April 18, 2003 Report Share Posted April 18, 2003 legally would affect, the 'lease option' concept Have no idea. But from the recent trouble the extremely powerful Central Group had with their lease don't think one of us would have much chance if government powers wanted to break it. And of course this proves you have no financial interest to protect! Link to comment Share on other sites More sharing options...
Guest Posted April 18, 2003 Report Share Posted April 18, 2003 When a Thai has a foreign spouse, there is an affidavit that she (he) and the foreign spouse must execute as a part of every property registration package that includes land as opposed to a condo. The affidavit is, interestingly, in English. It attests that all of the money used to buy the property came from the Thai spouse alone and that the property beongs solely to her (him) as separate property. Foreign lawyers call it the Bar Girl Affidavit. The document I saw was in Thai, but it was for land up country and I suspect this is more a matter of custom and practice which probably varies in different locales. Interestingly, the document I saw included a statement to the effect that the signatories understood Thai (totally useless, of course, if you can't read Thai.) In any event, I am not going to quibble about the language issue. As for condos, I was under the impression that this same requirement applied if the Farang was not qualified to purchase in his own name; that is, he wasn't able to produce a TT-3 (evidence that the money came from abroad) or did not have PR status. In other words, it was not a land vs. condo issue, but rather a requirement whenever a Thai married to a Farang acquires either a condo or property. But I could be wrong on that. As for the affidavit requirement, I was told it was considered an improvement over the old practice of prohibiting female Thai spouses of Farangs from buying land. A foreign lawyer here told me that the affidavit requirement was put in place because the new Thai Constitution bans discrimmination on the basis of gender. In other words, if you ban Thai woman from buying property when they are married to Farangs, you'll have to do the same to Thai men. Hence, the affidavit. I have never heard it called the Bar Girl Affidavit, but that sounds like the right name for it. Link to comment Share on other sites More sharing options...
basilofbarnes Posted April 27, 2003 Report Share Posted April 27, 2003 Be extremely careful of paying before the house is built. Personally, i just wouldn't do it. Stories of both Thais and falangs being cheated are rife. If you pay too big an amount upfront there is virtually no incentive for the developer to ever actually build the house. There are numerous examples of people being cheated like this. If you pay bit by bit then you have to check that the builders are using the specified quality of materials and the specified method of building. They will cut corners of every kind unless you watch them like a hawk. You will literally need to make daily visits to the site to do this. You also need to check they are not over ordering material and then selling the surplus or keeping it for themselves. Also, you will need to test all of the waterworks thoroughly as well as the electrics. Leave nothing to trust, get everything in black and white first, and micro manage the whole project yourself. Link to comment Share on other sites More sharing options...
Zorro Posted April 28, 2003 Report Share Posted April 28, 2003 Good article and IMHO spot on. However i think you miss the point. A lot of guys who are buying property for their TG's do so under pressure from the TG's themselves. I think a lot of guys know the truth of the situation but think that by buying a TG property that they can buy love. Wrong. You buy them a property that is all and thank you very much. Why would anyone who was confident in their own self want to risk their hard earned dollars by effectively handing them over to someone else regardless of whether you love them or not. Would you do the same thing in your own country? NO, there is no sense. IMHO this is just an extension of the sponsorship deal with a greater potential payday. If she really loves you she will live in the appartment/house that you own in your name and be happy she has that. Link to comment Share on other sites More sharing options...
Guest Posted April 28, 2003 Report Share Posted April 28, 2003 Buying a house in Thailand doesn't need to set you back financially like buying a house in the west can. For the average western man buying a house in the west is the biggest single investment he'll ever make, lucky if it's ever paid off fully. On the other hand a house can be had quite cheap in Thailand, 300K up, sky's the limit. I like to relate it to buying a car. In western countries most guys wouldn't think twice about buying a car for someone they are seriously involved with. Thing is, there are many levels of affordability when it comes to cars, from old used Japanese cars to fine luxury autos, buy something that fits your budget (and what you think she deserves) and don't look back. Not so easily said about houses though. Many of the Thai girls are genuinely interested in having the perceived security of land/house. There are many horror stories of course but I've seen my share of horror stories in the US when someone goes through a divorce. I wouldn't blow all my hard earned money on a "gift" for a woman anywhere. And if I get dumped after giving the gift it's a pretty good indication what she was after so I can count my loses and push on. Link to comment Share on other sites More sharing options...
Guest Posted April 29, 2003 Report Share Posted April 29, 2003 >>>NO, there is no sense<<< there is a lot of sense buying my wife some property. something might happen to me one day and i want her to be financially secure in that case. Link to comment Share on other sites More sharing options...
check_bin_krap Posted April 29, 2003 Report Share Posted April 29, 2003 ">>>NO, there is no sense<<< there is a lot of sense buying my wife some property. something might happen to me one day and i want her to be financially secure in that case." .......................................................................... It does make a lot of sense for couples who live abroad to invest in a property to be used when reaching retirement age as well. Many situated in my home country do just that. I would be very wary when it comes to family though, its far too easy that they move in instead of merely looking after the house. For couples who live abroad it should be a piece of cake to balance the pic if the property in Thailand is in the wife's name. Many of them own something outside Thailand which can be put mainly in the husbands name. I don't quite get the sceptics who are so afraid that the wife will take all in case of a divorce. I've been through a divorce myself, and as long as both are honest persons whats the problem in setteling stuff properly and decent? Don't you trust your spouse? Cheers! Link to comment Share on other sites More sharing options...
Guest Posted April 29, 2003 Report Share Posted April 29, 2003 >>>I don't quite get the sceptics who are so afraid that the wife will take all in case of a divorce.<<< it's generally the guys who are not in a relationship who are that paranoid. must be a reason somewhere why they can't find a wife... Link to comment Share on other sites More sharing options...
New Petchburi Pete Posted April 29, 2003 Report Share Posted April 29, 2003 fly, ... makes sense to me for the same reason ... but I would hope to safeguard my dough via the 30 yr. lease route. Can you offer any opinion/advice on the lease concept ? Link to comment Share on other sites More sharing options...
Zorro Posted April 29, 2003 Report Share Posted April 29, 2003 There is a very good reason not to leave the property in the women s name in Thailand and that is that so many guys have been ripped off in the past. When love goes sour........... Now if you have plenty of money to throw around and don't mind losing the cost of a house ... up to you All houses in Thailand are not cheap and many condos in Bankok and Pattaya are very pricey indeed Don't understand the bit about if something happens to me...... Ever heard of a will??? Link to comment Share on other sites More sharing options...
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