"Nominee Groups" Do Not Proceed Correctly Per Thai Law?
ฝัง
- เผยแพร่เมื่อ 9 มิ.ย. 2024
- #Thailand #ThailandBusiness #ThailandCompany
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Is there any legal way to buy a house and it’s plot of land and then live in it till death even if you have to will it to a Thai?
30 year lease with a 30 year renewal. Many people do this.
@@retireinhuahinThe renewal is never guaranteed. A contract for a renewal is actually illegal because 30 years is the maximum lease length allowed under the law. It's more like a gentlemen's agreement that is not enforceable in court.
Usufruct
@@vjames888 you are correct, the extension is not guaranteed by law and is more of a promise. Foreigners who lease land with the intent to build should consider a structure they can move, or a cost to build they are willing to give up if the extension is not granted. Very risky to bet on an extension when owners can pass away, or want a much higher lease rate to extend. The extension is basically a brand new lease because section 569 of the Thai civil code does not recognize lease extensions in this case.