what has my wife got me into ? she bought some land

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SideshowBob
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what has my wife got me into ? she bought some land

Post by SideshowBob » January 2, 2012, 2:39 pm

OK
I’m a very suspicious person if something seems too good to be true!!! You know the rest

So my wife has bought some land of her aunt apparently it’s a good plot sitting in an up and coming area

This is where I get very suspicious

The aunt has apparently been offered 350,000 for the plot from developers but has insisted that she sells the land to her niece for 200,000

The land is tied up in a bank loan of some description which is finishing soon and is currently lying un-developed

A long time ago an acquaintances Thai wife was ripped off by a relative selling land to her which is lingering in the back of my mind
So if this deal is real and now my wife owns this plot of land what’s the catch?
Is there hidden taxes waiting to be paid any sort of liability on my wife’s side what am I looking for to make sure that everything is ok
Thanks for any and all advice



rct
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what has my wife got me into ? she bought some land

Post by rct » January 2, 2012, 2:55 pm

I know many here who would want to keep land in the family at any cost.

Does the beg the question about title searches and knowing if any outstanding liens etc on a property, can that even be done in Thailand?

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BobHelm
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what has my wife got me into ? she bought some land

Post by BobHelm » January 2, 2012, 3:11 pm

Thais regularly move land about between members of the family so that, in itself, is not suspicious.
Although a couple of things are rather worrying, but can be sorted out if you are careful.

If the land is security on a loan from the bank then it cannot be transferred to anyone unless the bank are involved as well.
If you ignore the Bank then, at a future date, if the relation defaults on the loan...bang goes the land. I believe that if it is officially under a 'charge' then the details should be held with the land documents at the land office.

Second is who much is the land worth?? Well, I guess the answer to that is whatever someone is willing to pay for it. However if you get in touch with the local land office then they should be able to give an indication of the latest value of sales of land in that area. Bearing in mind that an awful lot can effect the value of land as well as just its' size.

The land office will need to be involved, anyway, in order to register the change of ownership. A taxation charge (not huge, I understand) based on the value of the deal, as estimated by the land office, not by what you say is changing hands, is charged.

I know that Thais would be quite happy to do all the movement without involving Solicitors & usually do. Whether you want to do that or take the added charge for that is, as they say, Up to You...

lepidoptra
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what has my wife got me into ? she bought some land

Post by lepidoptra » January 2, 2012, 3:14 pm

SideshowBob wrote:OK
I’m a very suspicious person if something seems too good to be true!!!
And so you should be :D

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what has my wife got me into ? she bought some land

Post by douglas » January 2, 2012, 3:16 pm

Hi,
Bob. Don't know where the land is, or how big. A trip to the land office before buying would have been a good thing. To check who owns it etc.. But to late now. The wife bought a piece of land, about 20K outside Udon, of her brother. This cost her, "me" 100,000B. I live just inside the ring road, the plot of land which my house stands on, is now valued at 500,000B, her land is over ten times as big as the one where we live. It was bought 3 years ago and is now worth 350,000B. She says it will come in handy for her children. or if we hit hard times. Which i agree.
I myself would rather buy, than rent, and fill the landlords bank account, but hi, that is just my way of thinking. Everyone to there own. I think your investment is worth more than money in the bank. IMHO.
Cheers Doug.

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what has my wife got me into ? she bought some land

Post by Jello » January 2, 2012, 4:17 pm

SideshowBob wrote:OK
I’m a very suspicious person if something seems too good to be true!!! You know the rest

So my wife has bought some land of her aunt apparently it’s a good plot sitting in an up and coming area

This is where I get very suspicious

The aunt has apparently been offered 350,000 for the plot from developers but has insisted that she sells the land to her niece for 200,000
Are you suspicious about the price? Hard to say without knowing more. How big and where is this "up and coming area"?
SideshowBob wrote:The land is tied up in a bank loan of some description which is finishing soon and is currently lying un-developed
Obviously can't be sold legally without the banks OK.
SideshowBob wrote:So if this deal is real and now my wife owns this plot of land what’s the catch?
Is there hidden taxes waiting to be paid any sort of liability on my wife’s side
Taxes will be paid at the land office when the chanote (land title) is transferred to your wife's name. If your legally
married, you will be required to sign a document at the land office during the transfer stating the land will belong
to your wife as the sole owner.
SideshowBob wrote:what am I looking for to make sure that everything is ok
Thanks for any and all advice
A chanote in your wife's name prior to any money changing hands.



I just looked at your post again, your wife already bought the land? How? On just a promise? I think your asking the question to late. Good luck. :roll:

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thegrogmonster
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what has my wife got me into ? she bought some land

Post by thegrogmonster » January 2, 2012, 4:56 pm

Be very careful. My wife's brother bought land of their uncle quite awhile ago but it was never transferred to his name. A few years later the uncle demanded the land back and he had to knock down the house they built on the land. This land was next door to their mum's land so he had to re-build another house on her land.

Everyone stills talks to the uncle accept me and I just away walk whenever I see him. The land is about 12km north of Udon Thani.

The original house block
DSC02232.JPG
The new house less the 100 metres from the first house
DSC02233.JPG

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parrot
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what has my wife got me into ? she bought some land

Post by parrot » January 2, 2012, 9:29 pm

If the Red Chanote or Nor Sor 4 Jor didn't have my wife's name on it after handing over the cash, I'd not agree to the deal. Anything else in Thailand is a gamble (IMO).

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KHONDAHM
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what has my wife got me into ? she bought some land

Post by KHONDAHM » January 3, 2012, 3:29 am

What kind of deed? If chanote, you could be ok - take a trip to the land office to be sure (and get a usufruct done while you are there! THB 75 if I recall correctly). Maybe less.

If it's sor bor gor (commonly exchanged amongst villagers and family), you're screwed. Just commenting on these two types for now as they are the most common.

Pay no attention to the difference in the "developer" price and the "family" price. Auntie probably got it for a fraction of that and is just making it sound enticing.
Enjoy this site much more by adding idiots to your ignore list (Friends & Foes tab).
http:\\www.udonmap.com/udonthaniforum/ucp.php? ... &mode=foes

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what has my wife got me into ? she bought some land

Post by lepidoptra » January 3, 2012, 12:41 pm

parrot wrote:If the Red Chanote or Nor Sor 4 Jor didn't have my wife's name on it after handing over the cash, I'd not agree to the deal.
Parrot
Don't quite understand [-o< If you've already handed over the cash and then see that your wife's name is not on it,surely it's too late not to agree to the deal. Am I missing something? :?

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parrot
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what has my wife got me into ? she bought some land

Post by parrot » January 3, 2012, 2:43 pm

I can't tell from the initial post whether the wife "has actually bought" the land yet.
"So my wife has bought some land"

"The aunt has apparently been offered 350,000 for the plot from developers but has insisted that she sells the land to her niece for 200,000"


"The land is tied up in a bank loan of some description which is finishing soon"

If the sale is a done deed (no pun intended much), then the originator's "Thanks for any and all advice" is unnecessary.

SideshowBob
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what has my wife got me into ? she bought some land

Post by SideshowBob » January 3, 2012, 3:16 pm

hello all

at the moment i not sure of anything from the wife as the information being told to me is not clear in my mind when i get there next week i will know if she has bought the land and whatv paperwork if any exists

what im hoping for and i have had some good information so far is a list of things i need to ask and what sort of answers so i can fully understand all the issues here

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what has my wife got me into ? she bought some land

Post by lepidoptra » January 3, 2012, 4:08 pm

SideshowBob wrote: at the moment i not sure of anything from the wife as the information being told to me is not clear in my mind when i get there next week i will know if she has bought the land and whatv paperwork if any exists

what im hoping for and i have had some good information so far is a list of things i need to ask and what sort of answers so i can fully understand all the issues here
Bob
I've read your original post and it isn't clear whether or not you have actually paid any money. I'm also not sure if the lady is legally your wife (it does make a difference). I assume you have known her for some time. I think most of us have experienced problems in Thailand as we can in our home country. I believe that one should never spend large sums of money unless you prepared to lose it. You state you have suspicions. Is this because of personal experience or stories you have read. I came to Thailand wearing Rose coloured specs as many have done in the past. The lenses soon became clearer although I do still make unwise decisions.
Obviously until you arrive back next week nothing will be resolved.
It's easy to ask the questions but much more difficult to understand the answers.
I wish you the best of luck and hope the whole thing is resolved to your satisfaction :| [-o<

SideshowBob
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what has my wife got me into ? she bought some land

Post by SideshowBob » January 3, 2012, 8:45 pm

i think im not being all that clear

yes she is my wife married tradditional cermony and has already been to england with me but we havent registered the wedding at the local goverment office

was just waitting on a visa for the uk and for her to finish her masters degree

shes pretty smart and sensible she has already researched the job she wants to do i.e do another years education in the uk so she can be a uk teacher

she has borrowed the money from her parents and apparently paid for the land thats about as clear as it gets

from there i wont know the truth till im face to face with the various parties involved

hence me wanting to know the right questions to ask the various people when i get there

ps anybody know if Hong Kong duty free is cheaper than Heathrow duty free ?

lepidoptra
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what has my wife got me into ? she bought some land

Post by lepidoptra » January 3, 2012, 9:00 pm

Thanks for the reply Bob. It does sound a bit more promising.
As far as duty free (which isn't of course) I've always found that the local discount stores in the UK will give you a better deal. Only problem is the baggage weight allowance.
Good luck once again :D

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what has my wife got me into ? she bought some land

Post by BobHelm » January 3, 2012, 10:30 pm

Never been to Hong Kong duty free. The island itself is generally cheaper than the UK, for most things anyway.
Heathrow duty free is a desperation buy point. I would buy on a plane before I brought there...
As lepidoptra says the high street offers better deals.

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what has my wife got me into ? she bought some land

Post by JR » January 4, 2012, 6:02 pm

SideshowBob wrote:i think im not being all that clear

yes she is my wife married tradditional cermony and has already been to england with me but we havent registered the wedding at the local goverment office

was just waitting on a visa for the uk and for her to finish her masters degree

shes pretty smart and sensible she has already researched the job she wants to do i.e do another years education in the uk so she can be a uk teacher

she has borrowed the money from her parents and apparently paid for the land thats about as clear as it gets

from there i wont know the truth till im face to face with the various parties involved

hence me wanting to know the right questions to ask the various people when i get there

ps anybody know if Hong Kong duty free is cheaper than Heathrow duty free ?
The target is "bought". How? Buy writing a simple I sell to you on a piece of paper? If your wife¨s name is not on the deed, the land is not hers. And it should be a Chanote or a Sor Gor 3, otherwise it is not a legal transfer anyway. Should have a red or green Garuda. But y ou said the deed is in a bank, then a transfer cannot take place without the bank¨s involvment, as has been said here. The bank has the deed as security for a loan. the loan has to be paid for you to get hold of the deed. So, d oes your wife have the deed? If not, she has thrown 200k out the window. She does not own the land any more than you or I do.

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what has my wife got me into ? she bought some land

Post by bumper » January 4, 2012, 6:44 pm

Ok I'm really missing something here.

Has the money exchanged hands?

If so

Who paid it?

If your wife paid for it with her money. That's family business.

If it was your money how was the money given to your wife, without your knowledge?

If your talking about some future event, just say no and move on.

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what has my wife got me into ? she bought some land

Post by SideshowBob » January 4, 2012, 8:06 pm

the wife has borrewd the money from her parents

and i will have to pay it back eventully on a timescale to be confirmed hence my concern on has she thrown the money away !!!!!

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what has my wife got me into ? she bought some land

Post by JR » January 4, 2012, 8:11 pm

That depends on if she has anything to show for her money? Meaning a deed with her name on it. Otherwise you are definetly screwed.

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