expat Posted August 6, 2009 Report Share Posted August 6, 2009 I've finally found a property I want to buy. The guy selling is moving out of Thailand and the property is in his wife's name. They have a loan on the property so essentially the bank owns 80% of the property. So, I need to know the technical details of how to do the transfer. I'm just going to pay cash for the property. Somehow the bank has to end up with their cash, the seller with their cash for the equity, and the chanote has to end up in my wife's name. How the heck does this happen without something getting screwed up in the transition? If anyone has experience with a situation like this, I would appreciate your input. Thanks, expat Link to comment Share on other sites More sharing options...
radioman Posted August 6, 2009 Report Share Posted August 6, 2009 The bank should be able to do all of this for you and the transaction will essentially take place in the relevant land registry office. You will make two payments one to the bank for the outstanding amount and one to the seller for the difference. Chanote docs will be assigned first to the seller and then immediately to your wife. Best is if you don't even show up but assuming you do just sit in the corner reading the paper with ipod plugged in and let the day happen. Well that's was my experience but TIT so I guess there will be a zillion others with a different twist, still I think that's essentially it. Link to comment Share on other sites More sharing options...
expat Posted August 6, 2009 Author Report Share Posted August 6, 2009 Thanks! Nice to know things will happen in the land office--makes me feel more warm and fuzzy. Cheers, expat Link to comment Share on other sites More sharing options...
SiLeakHunt Posted August 6, 2009 Report Share Posted August 6, 2009 Buy a condo, so it's in your name and when you find out she's fucking a motorbike guy, it's still in your name. Cheers Link to comment Share on other sites More sharing options...
Ckrisg Posted August 6, 2009 Report Share Posted August 6, 2009 Buy a condo, so it's in your name and when you find out she's fucking a motorbike guy, it's still in your name. Cheers Never heard that one before on this forum!!!! Link to comment Share on other sites More sharing options...
WorldFun Posted August 6, 2009 Report Share Posted August 6, 2009 you mean wife's may fuck one or more of the mototaxi dudes? Umm hope she charges them or at least get a free 'ride' home as those workers earn good dough & are far from lazy anyway how about we give those posters with faith in their wives & thus shared investments/accounts some slack & let the losers with cheating wives get it on in more relevant threads yeah? Link to comment Share on other sites More sharing options...
khunsanuk Posted August 7, 2009 Report Share Posted August 7, 2009 Hi, "anyway how about we give those posters with faith in their wives & thus shared investments/accounts some slack & let the losers with cheating wives get it on in more relevant threads yeah?" Exactly! Sanuk! Link to comment Share on other sites More sharing options...
ThaiHome Posted August 7, 2009 Report Share Posted August 7, 2009 Did this a couple of years ago when we bought our first townhouse. Wife went with owner to the bank and paid off the loan, the bank then released the titled into his name. Next day we went to land office, paid him in the parking lot and then went inside and transferred title into wife’s name, I signed letter of confirmation the property was not matrimonial property. We split the transfer fee (declared value about 75% of actual sale amount) with the seller. Was about 2+ hours at land office. TH Link to comment Share on other sites More sharing options...
ozpharlap Posted August 7, 2009 Report Share Posted August 7, 2009 They say that you can do a property transfer in Thailand without the need of a lawyer however, for such an important transaction I can never see the sense in not having one (provided always, that the lawyer is appropriately qualified and insured). Maybe the Thailand land title system is geared to avoid the requirements of a lawyer. When I use to practice in the Northern Territory, settlements took place at the titles office and you provided the buyer client with a fresh title. Maybe it is the same system there. Link to comment Share on other sites More sharing options...
expat Posted August 7, 2009 Author Report Share Posted August 7, 2009 Did this a couple of years ago when we bought our first townhouse. Wife went with owner to the bank and paid off the loan, the bank then released the titled into his name. Next day we went to land office, paid him in the parking lot and then went inside and transferred title into wife’s name, I signed letter of confirmation the property was not matrimonial property. We split the transfer fee (declared value about 75% of actual sale amount) with the seller. Was about 2+ hours at land office. TH Wow, that sounds scary. Did you know the seller already and so have confidence he wouldn't pull a runner with your money? The way I see it, if the bank doesn't have a system for this, we'll do it all at the land office, handing a check from my wife over *in* the land office. To the guy with the cute comments about the moto taxi guys--what makes you so sure we are using my money to buy this property? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.