some bad news for Farang house owners

[KimDidMeGood]

The authorities merely need to look at the Thai spouse's income and banking info to be able to deduce where the money actually came from.

 

Still, unless you leave obvious tracks, how can they assert that money came from foreigner hubby? Maybe she got a 'traditional' loan or help from parents, Thai family...

 

[Faustian]

Maybe, but I think in the traditional Thai/farang relationship scenario (ex-bg marries farang, traditional in the sense that Thai's seem to think that's the only girls we marry) it'll be pretty obvious.

 

In theory there are vast numbers of people who could lose their investments if this investigation was ever to occur.

[Central Scrutinizer]

If they were serious about it, the authorities would need to merely follow the supposed money trail. Bank accounts, statements, etc. If parents lent the money, where was it? Not hard to do, Kimdidme. They would ask for proof. No proof, no title, land confiscated. If they ever get that serious about it that is.

 

Phuket seems another case altogether. I think money is getting tight down there due to the lesser tourism and some in charge are looking for ways to keep living in the style they've become accustomed to. Watch the news, more shit will be happening the worse the economy and the tourist numbers get. Plenty of scams they will pull as the money dries up.

[Faustian]

And the farangs will be the victims fairly often I'd suggest...as no one gives a shit about us.

[Central Scrutinizer]

And the farangs will be the victims fairly often I'd suggest...as no one gives a shit about us.

 

 

True. There is no incentive for most Thais to give a shit. Except those married to farang, or those wanting to sell land to a farang, why would most of them care?

 

[Central Scrutinizer]

"In theory there are vast numbers of people who could lose their investments if this investigation was ever to occur."

 

Yep, and some Thais would be the beneficiaries of this. Once the incentive is there, and they see they could get away with it (as they have always done), it'll happen. If the money is there, the scams will come. Depends on how much they want the money it will bring them.

 

Of course it would be shortshighted, and opening up the country for investment would actually be better for them in the long run. That isn't how these people think. Legalized theft has an appeal they cannot seem to resist at times.

 

[Central Scrutinizer]

And of course, many foolish farang leave themselves wide open for this sort of theft.

[KimDidMeGood]

Anyway, that's really absurd thinking...

So if I marry a Thai woman, I can't offer a gift to my wife if it's in the form of cash or a land?

Populist crap.

[ThaiHome]

As is all too common on this subject, people are responding emotionally and not actually reading what the article actually says.

 

Note that there is no change in the existing the law. All this guy was doing was saying what the law is currently. He is talking about people that have setup companies, with spouses or other Thais, as nominees that have purchased the land in their names using the farangâ??s money. They have been saying for several years now this is not legal they could (and might) check on the ability of the nominees to actually afford the investment. There is no doubt, that people like the Beckhamâ??s have a setup that keeps them protected, there are after all many Thai people willing to act as nominees that can show they can afford the investment themselves, it just the average farang doesnâ??t meet them very often. It is also worth noting that there has never been a case of property being confiscated, despite all the farang hysteria and hand wringing about it.

 

This is different then when your wife purchases property in her name and you, as the farang, have to sign a statement at the land office that you have no claim on the money used to make the purchase. IMHO if you have a problem signing this statement, you probably have no business making the purchase.

 

I also believe that even with this statement, in the case of the death or your wife or divorce, there are legal remedies that can help you recover your money. You cannot keep the land though.

 

TH

 

[Torneyboy]

They want our money ..but not us ..