Land ownership? Is it possible ?

I keep reading here some board members buying and owning land but to the best of my knowledge, NO foreigners can own land legally.
Some expats own land by putting it in his girlfriend's or wife's name. This can be foolish and dangerous since we all know somebody who got shafted this way. And some do it by creating a company for the soul purpose of owning land and property. However this is also illegal under Thai law. Thai government is not enforcing it now but in the future they can come down hard on expats who did so. Currently they have been looking the other way so that foreigners can bring hard currency to Thailand to enrich themselves in real estate sector.
So let me ask all you smart landlords. How can you own land legally without possible problems later on?

Put the land in girlfriend's (or any Thai persons) name and on the day of purchase/transfer lease off her for 30 years. Both transfer and lease are done at the land office just up from Tung Sri Muang.
It is quite legitimate and your name will appear on the Chanote. This process is possibly the most favourable pre-nuptual agreement for you and spouse. Nevermind about her apparent "loss of face" around the village.
Forget the "Company" method, the slobs in Samui screwed that up for everyone

The method suggested by patriot tends to be popular, but consider the situation, if things subsequently go wrong your relationship, particularly if you are buying in her village!! Would you really want to continue living there, or indeed realistically be able to??

The legal way, not to incur any loss with land purchases in a Thai name. Actually, it

arjay wrote:The method suggested by patriot tends to be popular, but consider the situation, if things subsequently go wrong your relationship, particularly if you are buying in her village!! Would you really want to continue living there, or indeed realistically be able to??

Top comment; at least an amphur and a half away from the inlaws for a peaceful life!! But surely in Udon, once land is bought and a home set up then life is fine and dandy with divorces/seperations being a rarity .. !!

Bangkok Bank Logo Now offering mortgage facilities for foreigners purchasing property in Thailand.


HOME LOANS FOR NON-RESIDENTS

BUY PROPERTY IN THAILAND WITH BANGKOK BANK

Foreigners who wish to purchase a property in Thailand, whether as a second home, for retirement or for business investment, can now get assistance from Bangkok Bank, the first Thai bank to provide home loans to people who are not residents of Thailand. Whether you want to be in the heart of the city or out in the provinces, we can help you become a homeowner.

LOAN FLEXIBILITY

We offer you home loan options tailored to meet your needs. You can borrow up to 70% of the property appraisal value or the purchase price whichever is lower. The loan can be denominated in SGD, USD or any other currency acceptable to the Bank and can be paid over a maximum loan period of 10 years. We provide personalized services that will help you to select the best loan solutions.

COMPETITIVE RATE OPTIONS

We offer quick and easy financing at competitive rates. If your loan is in USD, the interest rate will be in the US prime lending rate plus 0.5% per annum. If the loan is in Singapore dollars, the interest rate will be Bangkok Bank's prime lending rate per annum. For loans in other currencies, you shall be advised on the interest rate. The choice is yours at Bangkok Bank's Home Loans.

With Bangkok Bank's home loans, you can create your dream home in Thailand. For more information, please contact Bangkok Bank's Singapore Branch or email your enquiries to hl.sg@bbl.co.th.

TIPS

Did you know?

If they meet special criteria, foreigners can own landed property of up to 1,600 square meters. Foreigners can also own condominium units (up to 49% of units in a single project can be owned by foreigners). As a Thai bank, we are familiar with local regulations and are thus in the best position to facilitate the financing of property purchases.

Financing Terms Download [84 kb]
Mortgage Loan Financing Application Download [854 kb]


Portable document format files (.pdf)
To view and print a PDF file, you need to have the Acrobat Reader software installed.


Adobe Acrobat is available free from Adobe.



Bangkok Bank - the largest bank in Thailand with branches everywhere.

Paul Taylor wrote:Did you know?

If they meet special criteria, foreigners can own landed property of up to 1,600 square meters..

Any idea what the "special criteria" are as 1 rai is a decent enough size for a house/home.

Still waiting for an answer from the Bank

real thru the fine print 'landed property', i'm guessing that does not include the land.

I have in complete house in Sung dow it belongs to my thai wife and the family
I would love to get a 10 year loan to complete it any suggestions since I can not use it the way it is

[img]http://www.isarapix.com/my.php?isara=pix17/pre/1198935[img]

it seems it not working again for me so screw it

The special criteria is 40,000,000 THB in a Thai bank.

udon if I had 400.000 I would finish the house without kissing some banks azz LOL
between the truck and what I have built so far cleaned me out LOL