Quote:
Originally Posted by pocketrocket
If I didn't remember it wrongly, foreigners cannot own any property "outright". He must co-share with at least a Thai citizen (Foreigner not more than 50%).
Having said that, the lawyer can make a clause in the agreement that the Thai national cannot sell the property off without the foreigner agreeing even if he got more than 50% of the share.
The details, I'm not too familiar. The info was gathered when I made some inquires a few years back. Hope this will help  |
For landed, there is no way the foreigner's name can be in the title deed.
Having said this, some ppl thought that they can use the loophole of the property system, but let me explain it in more simple terms.
Example the Khon Thai buys the land, the foreigner pays for it and also signed an option that he is the tenant and signs an option for a period of 30 years to 'lease' the land from the Khon Thai. Blah blah.... in the process, of course the Khon Thai not allowed to sell the land without the permission of the tenant(which in this case is the foreigner). In addition there could be an additional clause for the foreigner to have an 'option to renew'. In legal terms speaking, the foreigner is just a tenant and not the owner.
In legal disputes, seriously, the tenant has no power at all. All lawyers just want earn money so they think of ways to go around loopholes for foreigners to so-called own land in Thailand. But what they did not say is the rights and in the event of a legal dispute, how protected is the foreigner and what are his rights?
**And if the Khon Thai wants to sell land, need the permission of the foreigner, so though the foreigner pays money and if he wants to sell and yet the Khon Thai don't want to sell, it means this land cannot be disposed of to get the money back.
What is the use of buying property when it cannot be sold? Bottomless pithole.
SC