ITKMAN, no-one is picking on you, you posted the other day asking a specific question about leasing and we asnwered you ......Open note to all. Burger has not added and post to the question. Do you have any info or are you here to pick on a newbie to the issues
Then you respond with .......ITKMAN wrote: How is it that everybody is saying to not buy a house with a 30 year lease renewable for 2 more 30's. If I have a lawyer in BKK look over the papers how can I lose out...Please be specific!
Burger wrote: I think the grey area is that the 2 no. 30 year options to extend may not be enforcable under law, IF certain circumstances arise. As I understand it if the lessor sells the land to someone else, or dies and the land goes to their heirs, then the new freehold owner is only legally bound to the original 30 year lease and not the 2 no. options. This is because the 2 no. options were a private contractual agreement between the original two parties and as such are not recognised under the land law. As you've said already, you need to check it out with a 'proper' Bangkok law firm and they should advise you off any such pitfalls.
Taking it too the extreme, if the original lessor does not want to honour his 30 year extension, can he not simply sell the land to his brother, his brother is not bound by the extension so you vacate, next day brother buys it back again
Ask your lawyer if you can put a clause in the original 30 year lease that says any future freehold owners, must also sign new extention option contracts with you. Not sure if this is legally possible, as then it is not strictly a 30 year lease!?
Good luck, Burger
Johnnyk wrote: Agree with Burger. I had a good BKK lawyer advise me samesame. It is a private contract and not registered at the Land Office. When the land appreciates, and it will if its within 5-6km of town, there will be plenty of reason to get you off the land 30 yrs down the road.
I'm not sure who is 'picking on' who here ??You gotta admit there is losts of posts but very little really helpful stuff....
there is clear signs os member fights, carsck pot moronic stuff and a few well meaning but useless post by people who don't know dittle
Also the other good advice people are giving on here is to come to Hua Hin and have a good look round. There are plenty of secure, gated developments (new and old) within your price range, some close to town, some just outside town. Some have excellent facilities, pools, clubhouse, gym, restaurants, bars and some not so good facilities.
There are plenty of good real estate agents and some not so good, you will soon get a feel for who are the good one's when you start talking to them and seeing what response/service you get.
Anyway good luck,
Burger
