Farang buying a house with a Thai lady

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PBbeacher
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Re: Farang buying a house with a Thai lady

Post by PBbeacher » Tue Nov 28, 2017 11:42 am

johnjar wrote:
Tue Nov 28, 2017 9:33 am
HHTel wrote:
Tue Nov 28, 2017 8:54 am
Tell me. Why is a usufruct useless?
HHTel...I agree! Usufruct beats all the other options hands down, it gives you lifetime security, your name is on title as a usufructee, and will go to your family when you expire.
But your 'lifetime' may then be at the mercy of those who stand to benefit from your expiry!

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johnjar
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Re: Farang buying a house with a Thai lady

Post by johnjar » Tue Nov 28, 2017 11:47 am

PBbeacher wrote:
Tue Nov 28, 2017 11:42 am
johnjar wrote:
Tue Nov 28, 2017 9:33 am
HHTel wrote:
Tue Nov 28, 2017 8:54 am
Tell me. Why is a usufruct useless?
HHTel...I agree! Usufruct beats all the other options hands down, it gives you lifetime security, your name is on title as a usufructee, and will go to your family when you expire.
But your 'lifetime' may then be at the mercy of those who stand to benefit from your expiry!
Thats a very morbid view, your a real Job's comforter, you must be a bundle of fun :(
Last edited by johnjar on Tue Nov 28, 2017 12:01 pm, edited 1 time in total.

HHTel
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Re: Farang buying a house with a Thai lady

Post by HHTel » Tue Nov 28, 2017 11:58 am

The Land Office will honour a usufruct but they have to agree a usufruct in the first place. It is down to their discretion. Some offices are not happy with a usufruct between man and wife.
HHTel...I agree! Usufruct beats all the other options hands down, it gives you lifetime security, your name is on title as a usufructee, and will go to your family when you expire.
I'm afraid that's incorrect. The usufruct terminates on the death of the usufructee (assuming the usufruct was until death). The only way the property continues with tenants other than the owner is if the usufructee grants a 30 year lease to a third party and the usufructee dies before the lease is complete. In that case, the lease remains valid until the end of the 30 year period.

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Re: Farang buying a house with a Thai lady

Post by PBbeacher » Tue Nov 28, 2017 12:22 pm

johnjar wrote:
Tue Nov 28, 2017 11:47 am
PBbeacher wrote:
Tue Nov 28, 2017 11:42 am
johnjar wrote:
Tue Nov 28, 2017 9:33 am


HHTel...I agree! Usufruct beats all the other options hands down, it gives you lifetime security, your name is on title as a usufructee, and will go to your family when you expire.
But your 'lifetime' may then be at the mercy of those who stand to benefit from your expiry!
Thats a very morbid view, your a real Job's comforter, you must be a bundle of fun :(
Yeah, I realised after I wrote it how dark it sounded, but you'd be surprised what I've witnessed here, stuff you couldn't make up.

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johnjar
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Re: Farang buying a house with a Thai lady

Post by johnjar » Tue Nov 28, 2017 1:16 pm

PBbeacher wrote:
Tue Nov 28, 2017 12:22 pm
johnjar wrote:
Tue Nov 28, 2017 11:47 am
PBbeacher wrote:
Tue Nov 28, 2017 11:42 am


But your 'lifetime' may then be at the mercy of those who stand to benefit from your expiry!
Thats a very morbid view, your a real Job's comforter, you must be a bundle of fun :(
Yeah, I realised after I wrote it how dark it sounded, but you'd be surprised what I've witnessed here, stuff you couldn't make up.
Yes bad stuff happens but few and far btwn, and same happens in other countries, and I have been here with my Mrs. a long time and feel as secure here as anywhere.

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johnjar
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Re: Farang buying a house with a Thai lady

Post by johnjar » Tue Nov 28, 2017 1:29 pm

buksida wrote:
Tue Nov 28, 2017 11:11 am
It happens, land office bosses change, as do 'rules', nothing is set in stone here and 'law' is only down to the judge upholding it.

The old adage "only spend what you can afford to lose" is especially applicable to property in Thailand.
Nothing is set in stone anywhere and same applies to judges anywhere, also I bet there is more blokes lost out on property in uk than in here, thats for sure.

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StevePIraq
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Re: Farang buying a house with a Thai lady

Post by StevePIraq » Tue Nov 28, 2017 1:44 pm

johnjar wrote:
Tue Nov 28, 2017 9:33 am
HHTel wrote:
Tue Nov 28, 2017 8:54 am
Tell me. Why is a usufruct useless?
HHTel...I agree! Usufruct beats all the other options hands down, it gives you lifetime security, your name is on title as a usufructee, and will go to your family when you expire.


I don't get that, my lawyer told me a Usufruct is none transferable. And from what I have read it is none transferable.

"A usufruct interest expires upon the death of the holder of the usufruct and therefore cannot be inherited."

https://www.siam-legal.com/realestate/Usufructs.php
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pitsch
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Re: Farang buying a house with a Thai lady

Post by pitsch » Tue Nov 28, 2017 3:56 pm

johnjar wrote:
Tue Nov 28, 2017 9:33 am

HHTel...I agree! Usufruct beats all the other options hands down, it gives you lifetime security, your name is on title as a usufructee, and will go to your family when you expire.
the lawyer told me that when you die the land and house can only go to the Thai family, not to farang heirs.

crossed with other post from Stevepiraq

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StevePIraq
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Re: Farang buying a house with a Thai lady

Post by StevePIraq » Tue Nov 28, 2017 4:01 pm

It really is a total rip off, you pay for everything and then lose it all one way or another.
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buksida
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Re: Farang buying a house with a Thai lady

Post by buksida » Tue Nov 28, 2017 4:19 pm

pitsch wrote:
Tue Nov 28, 2017 3:56 pm
the lawyer told me that when you die the land and house can only go to the Thai family, not to farang heirs.
This is also how I understand it. Even if you have kids together it is backwards in Thailand and property will go to her parents/family automatically in the event of death unless she has a will stating that it goes in trust to the children (under 18).
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johnjar
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Re: Farang buying a house with a Thai lady

Post by johnjar » Tue Nov 28, 2017 4:25 pm

pitsch wrote:
Tue Nov 28, 2017 3:56 pm
johnjar wrote:
Tue Nov 28, 2017 9:33 am

HHTel...I agree! Usufruct beats all the other options hands down, it gives you lifetime security, your name is on title as a usufructee, and will go to your family when you expire.
the lawyer told me that when you die the land and house can only go to the Thai family, not to farang heirs.

crossed with other post from Stevepiraq
pitsch..Thats exactly correct! The lawyer told me the same.When the userfructee dies the land / house goes back to my Mrs , this was explained in detail in both Thai and English prior to us both signing :)

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Re: Farang buying a house with a Thai lady

Post by HHTel » Tue Nov 28, 2017 4:35 pm

All the above is correct. You can't inherit a usufruct neither can you will it. However whilst you are still a usufructee (and alive) you can lease the land/house to a 3rd party. The maximum is 30 years. If the usufructee dies during that lease period, the usufruct is dead (excuse the pun) but the lease is still valid until the end of the lease agreement regardless of whether the usufructee is alive or dead!

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johnjar
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Re: Farang buying a house with a Thai lady

Post by johnjar » Tue Nov 28, 2017 4:39 pm

HHTel ..Your spot on again :)

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Re: Farang buying a house with a Thai lady

Post by HHTel » Tue Nov 28, 2017 4:43 pm

Stoppit JJ. You're becoming a fan. I can't handle it!

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Re: Farang buying a house with a Thai lady

Post by johnjar » Tue Nov 28, 2017 5:14 pm

StevePIraq wrote:
Tue Nov 28, 2017 1:44 pm
johnjar wrote:
Tue Nov 28, 2017 9:33 am
HHTel wrote:
Tue Nov 28, 2017 8:54 am
Tell me. Why is a usufruct useless?
HHTel...I agree! Usufruct beats all the other options hands down, it gives you lifetime security, your name is on title as a usufructee, and will go to your family when you expire.


I don't get that, my lawyer told me a Usufruct is none transferable. And from what I have read it is none transferable.
StevePIraq..I never mentioned none transferable? My attitude has never been that of a Carpediem type of person, especially with regards to the future well being of my Mrs. when I,me gone :)

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