Have you secured your property purchase in Thailand ?
Updated: Oct 29, 2022
How have you secured your property purchase in Thailand?
If you purchased property in your wife or partners name what have you done to secure it in the event of a divorce or if she dies before you?
Did you attend the land office when the house or land was purchased?
If you did there is a big chance you signed that this property was purchased with your wife or partners private money.
This makes the house or land not part of the matrimonial property and makes it her private property.
Do you know the consequences of this in relation to inheritance laws?
Do you have a specific will from your wife or partner carefully worded and executed to protect you ?
Do you hold a usufruct or superficies or lease agreement that has been registered to restrict the sale of the property or to prevent loans being taken against it?
The usufruct/ superficies agreement will also give you rights of habitation for 30 years or a lifetime.
Have you set up a Thai company to buy your land or house?
The law states it is illegal to set up a Thai company for the sole purpose of a foreigner owning property.
Company law restricts foreigners to a maximum of 49 per cent shares in a Thai company so this route does not make logical sense anyway ,as the foreigner will only own 49 per cent of the property.
Who are the 51 per cent share Thai holders of your Thai company are they nominees?
It is also illegal in Thailand to use nominees and have you considered what would happen in the death of the 51 per cent shareholder/s, it could become very complicated especially with Thai inheritance laws, what if their heir makes a claim on your company/property?
Unless the company is a real company i.e. trading with staff and paying taxes with money in and out this method of acquiring property in Thailand is illegal and not advised.
Lawyers for Expats Thailand specialize in providing legal solutions we follow the law so you have the full protection of the law.
There is a safe and legal way to protect your home and investment.
For your peace of mind and to ensure you are covered contact us for a free consultation.
Call us anytime on 0956583038 English
Or email us at firstname.lastname@example.org