How to Protect Your Property Ownership Rights in Thailand
ฝัง
- เผยแพร่เมื่อ 3 มิ.ย. 2024
- Khun Sirichot has advised clients on how to safely and legally buy, maintain, protect, and pass on property in Thailand for over 14 years.
👉 See all my services for expats jettgunther.com
00:00 Intro
00:51 Legitimate ways to own property in Thailand
04:11 Legitimate way to own land with a Thai company
07:06 Can I own land using the Thai-US Treaty of Amity?
09:22 Legal advice on property ownership with Thai spouse
11:43 Prenuptial agreement best practices
17:07 Unpacking the classic "Thai wife took my house" problem
19:17 Alternatives to buying house in Thai spouse's name?
20:48 Buying a condo - with prenup vs no prenup
22:13 How property is distributed in a divorce
28:23 What happens when there is no Thai will?
30:48 What intentions can you include in a Thai will?
33:16 Limitations of Thai wills
33:50 Is an overseas will usable for assets in Thailand?
35:04 Another important reason to have a Thai will
37:35 How does inheritance tax work in Thailand?
39:10 Can/will the Thai government seize property from foreigners?
40:56 Are Thai courts biased against foreigners?
43:12 Are Thai courts corrupt?
I love this lawyer - he is honest and knowledgeable!!! Will keep him in my contact list.
The way that lawyer looks @ Jet is like love @ first sight
1-Don’t marry
2-Rent don’t own
Getting married in Thailand is OK. If a divorce happens, all assets you had before the marriage are still yours. No western feminist laws giving the woman everything. BUT if you have a Thai kid, then all bets are off. DONT have a kid. Get a vasectomy. And marriage Visa extension of stay for 12 mths is much easier (after the first one) and much cheaper as no need for 800K in bank all year (400K for a few months).
Rent is true - many reasons especially that property lost if married and get divorce - but including Thai neighbour starting a pig/chicken farm or karaoke bar, needing to sell to move or return home, etc etc etc. Sure Usufract can be useful, but that can be over-ruled by a local Thai Court - especially if the wife dies.
The most significant part of any deal is “who is the buyer and who is providing the funds” , any oversees buyer should transfer the funds to the Thai bank after a by all parties involved signed loan agreement so that in any case after selling the property or assets the lender gets his money back and is able to transfer the funds outside Thailand .
The best suggestion is the 5% of your net worth and or just buy a little house for Thai gf (out of your extra cash) so either way if she stays or goes -it will not hurt you financially!
@@BarnabyBarry Mate - some people are lucky. I make it at least 3-4 million Baht for a decent house to live in with GF. If you have that as 5% then I make it your net worth is AUD $3,500,000. Some people have it good - well done 😅
@@AussieBob999what about AL Imony if she claims from Pension?
1st advice "not get married"! This is a lawyer that needs serious consideration!
I’ve heard that as long as she wasn’t part of the condo buy initially, she can not take your condo if you were to get divorce.
This interview makes me and my husband laugh so hard. We really appreciate your honesty and humour.
This guys going to be my lawyer in about 7 years 👍
We'll be here 😄
Are you planning a divorce?
😨😨😨 Do not watch scary videos before bed kids. 😂 But seriously... don't. 😉❤
On the plus side, listen to the advice. Jett's guests tend to have a lot of wisdom and experience.
Thank you Jeff for these pertinent insights !
Awesome. You guys have great dynamics.
Thanks for listening
Great video Jett !
Thank you this is very useful information!
Inheritance tax in the UK is 40% on an estate with value over £325,000 = 13 million baht.
No inheritance tax up to 100 Million baht (£2.5 million) seems to make Thailand a good place to reside to avoid inheritance tax for a UK citizen.
Yes one of the many reasons
Love you work Jett and Khun 👍
Love your questions Jett! :)
Great job once again.
Thank you! Cheers!
Very interesting info, thank you both.
Our pleasure!
The marriage/divorce seems fair in Thailand with the assets/debts before marriage.
In the UK you marry some pauper female with no assets (credit card and student loans) and she divorces you and gets half of everything you have.
Prenuptial agreements are vital nowadays but not legally binding in the UK.
Yes. Makes sense here in Thailand.
Thanks for the very informative video once again, Jett. I think this goes to most potential foreign buyers' concern regarding property ownership in Thailand, i.e., not necessarily an ownership issue, but the protection of one's rights towards the property. I have some questions (which need not be answered here, but perhaps you can consider covering in a future video):
1) Under what circumstances can a condo project be more than 51% non-Thai ownership?
2) In connection with contractual arrangements (not necessarily with your Thai wife/gf or in relation to a pre-nup) to pay for the property and enjoy it under a lease/usufruct structure, is it preferable to have such contractual arrangements bound by the laws of your country of origin or Thai law?
3) Related to 2), will Thai courts recognise and enforce a foreign judgment if the court in your country of origin decide in your (i.e., the foreigner's) favour?
1. If they lease the units rather than sell freehold.
2. If the property is in Thailand, better to get it done here.
3. Sometimes, but not always. Better to get contracts done here.
Are "De-Facto" marrages a thing in Thailand Jett?
No
What is 49% own? Im confusing
Can you just title your bank account in joint ownership? Then you can skip wills.
❤🙏
If you leased land for 30 years...what happens after the 30 years?
Can ask for a renewal but it is not guaranteed
@@JettGunther what happens if they refuse to renew?
The best legal advice " don't get married "