Land or Property taken by government

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newtovillagelife
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Land or Property taken by government

Post by newtovillagelife » August 2, 2013, 1:25 pm

I have heard that if my Thai wife buys property or land with funds that I provide, it can be taken by the Thai government, because she has to use her money to make these purchases. Is this true?



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semperfiguy
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Land or Property taken by government

Post by semperfiguy » August 2, 2013, 3:12 pm

Sounds highly unlikely! When I bought our home I had to sign an affidavit at the Land Office saying that the money that I used to buy the house was my wife's money. That's the first time I've ever been asked by a government official to perjure myself in a legal document. TIT...so go figure!
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papaguido
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Land or Property taken by government

Post by papaguido » August 2, 2013, 3:22 pm

True or some what true, not sure exactly. If anyone ask, you didn't giver her any money (how is the government to know where she obtained the money from). Or consider any money given to your wife a gift from you.

When we received a loan for our house I had to sign an affidavit affirming that any funds given to my wife towards the purchase of the house were considered a gift (or something to that effect).

newtovillagelife
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Land or Property taken by government

Post by newtovillagelife » August 2, 2013, 4:08 pm

Seem scary to me, if at any point the Thai government gets upset at foreigners they can confiscate the property your wife buys with your money. Even if you sign an affidavit they know you are lying.

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Bandung_Dero
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Land or Property taken by government

Post by Bandung_Dero » August 2, 2013, 4:22 pm

As I've said a number of times, when transferring the 2 Chanoots on land we have bought in TWs married name (my surname) I have had to sign confirmation that any monies I supplied for the purchase was a gift to my wife and I held NO rights over the properties.

This worked in my favor a few years ago (and in a moment of extreme weakness on my part) when a close relative wanted to borrow one of the Chanoots so as to take out a loan from the Land Bank to fund overseas work applications. The bank would not lend on the Chanoot as it was held on a Farang surname, I had to go to the Amphor office and get a letter of approval from them for the transaction to proceed.

If nothing else that alone gave me the impression that land bought in my name (surname) had some protection built in there for me.
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Bandung_Dero
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Land or Property taken by government

Post by Bandung_Dero » August 2, 2013, 4:32 pm

newtovillagelife wrote:Seem scary to me, if at any point the Thai government gets upset at foreigners they can confiscate the property your wife buys with your money. Even if you sign an affidavit they know you are lying.
That could happen at any time in any country you care to nominate. Governments of any/all persuasions have the powers to confiscate land for any reason. If one was that paranoid he/she would be a perpetual renter. =;
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papaguido
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Land or Property taken by government

Post by papaguido » August 2, 2013, 5:05 pm

Details of Letter of Confirmation or Affidavit...

Image

http://www.thailawonline.com/en/propert ... ation.html

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Sakhonnick
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Land or Property taken by government

Post by Sakhonnick » August 2, 2013, 8:35 pm

It's just crazy how much we are not waned here, or have no rights to anything,

My house with my wife is in her name with my surname but on a 70% mortgage, the money I earn is done here in Thailand so wonder how that works out as my employer pays full taxes here for me.

But if your married surly one partners income should be classed as both as your an item? Or is only cause we are farangs?

I guess the golden rule is only invest a small part of your savings or future earnings in Thailand

jai yen yen
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Land or Property taken by government

Post by jai yen yen » August 2, 2013, 10:33 pm

Thailand is a land of rules that are not enforced, legally if your wife buys a house or land she can not use your money. The government does not want farang ending up with claims and or ownership of property in Thailand. The huge farang housing market is a total scam with the houses being owned by farang with illegal companies yet nothing has been done about that yet. Too much money to lose if they did I think but that does not mean they never will. As someone said we are not really wanted in the kingdom, they would much rather we come as tourists and spend our cash and leave.

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papaguido
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Land or Property taken by government

Post by papaguido » August 3, 2013, 8:01 am

newtovillagelife wrote:I have heard that if my Thai wife buys property or land with funds that I provide, it can be taken by the Thai government, because she has to use her money to make these purchases. Is this true?
Upon further reading...the government doesn't confiscate the land, but they can stipulate that ownership of the land be transferred to "someone else" if there is evidence that the land purchase is deemed a common matrimonial asset (no Letter of Confirmation/affidavit).

Examples givens:

Image

and more here:

http://www.thailawonline.com/images/doc ... 5B1%5D.pdf

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Land or Property taken by government

Post by douglas » August 3, 2013, 9:38 am

Hi,
Sak. when the wife wanted to borrow money from the bank to buid a shop i was asked to go garantor for the money borrowed. My income fell just short of what the bank required. I showed the bank, the bank book with funds in to cover this. They said i only owned half of what was in the book, it was in our joint names, and the wife owned the other half TIT. So i had to put 2000B in to cover the 1KB i was short.

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