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Thai Partner wanting to buy property in thailand

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overkillxx
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Thai Partner wanting to buy property in thailand

Postby overkillxx » Sat Jan 07, 2017 6:42 am

Hey Guys,

Literally just joined this forum trying to seek some answers that hopefully people can assist with here. :)

Me & my Thai partner live in Australia. For a longtime she has been wanting to buy a property in Thailand for her family to live in. Unfortunately the job she has in Australia, though it pays ok, is cash in hand. Ultimately she has no record of income to prove to a bank in Thailand so that she can get a loan on her own merit. She does however have about 950,000 baht (At least) for a deposit. She will spend about 2,600,000 baht for a property. To do this ultimately I need to Marry her in Thailand & sign into the contract for the property. I don't have any interest in the property as its entirely hers. I am just assisting her to buy it as she isn't able to secure the loan through the bank as she can't prove her income.

A: I recently sold my house in Australia. As such I am looking for another house. If I sign a contract for a house with her in Thailand , can a bank in Australia see this "debt" I have taken on in Thailand when I apply for a homeloan in Australia? I don't think they can unless I declare it. But I want to be sure. hence why I am asking. In reality & as mentioned above I won't be paying for anything in relation to this property. My Thai gf will be.

B: If for whatever reason she cannot pay the repayments, what legal obligations do I have? Can the Thai bank (Whichever bank that may be) get the money from me? Are there agreements in place between Australia & Thailand that may make this possible? I would think that if she defaults on the loan in her repayments the bank would just resell the property. As she will have a decent deposit, I would think that if there was any shortfall after the bank sold the property, it would not be very much.. But this leads me to question C:

C: Her deposit she will have initially on the mortgage is a reasonable amount. But as is the way (Especially with Thai families) her family/whoever may convince her to use that capital to buy "other" things (Car, expensive furnishings, etc). This would have the effect of making the debt on the property larger & if "B" happened & she defaulted on the repayments, then the shortfall would be much larger. Is there anyway I can make it so that any capital paid off on the property cannot be withdrawn on until such time as the property is paid off fully & I am relinquished from any contract with a bank that has my name on it?

D: If I Marry her for the sole purpose of buying this property with her & then divorce her shortly after, is the divorce in Thailand recognized in Australia? I've read some sites saying certain countries may not recognize a Thai Divorce. I am not married to her in Australia. I will simply Marry her in Thailand & then divorce shortly after for the sole purpose of buying a property in Thailand for her as mentioned at the start.

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laphanphon
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Re: Thai Partner wanting to buy property in thailand

Postby laphanphon » Sat Jan 07, 2017 9:02 am

Actually, the only question you should be asking is:

Do YOU want to buy her family a house to live it, because that is the reality of it all. Simple.

Personally, I would stay clear of that one, and continue on as things are, simply enjoy living together in OZ. The family got along fine before you, and will do so after, just do you want to pay, during the after.

Ask yourself, would you co-sign a mortgage for an Aussie partner's family in OZ, that a bank would not loan money to. They have rules for a reason.
"Travel is fatal to prejudice, bigotry, and narrow-mindedness"..Mark Twain

deepee
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Re: Thai Partner wanting to buy property in thailand

Postby deepee » Sat Jan 07, 2017 11:32 am

overkillxx,
The Australian ATO, Border Security and Centerlink have investigative officers who monitor overseas sites such as this .
I know this from a friend whose job it was to do just this.They run profiles on interesting posters and it's not too hard for them to eventually work out who you are. So careful what you admit too especially when divulging info on income and money, property etc.

I expect if your Australian bank gets wind that you have debts overseas they will have no choice but to factor this on on your future loan, but only if the know of it.

Foreigners cannot own land in Thailand so you cannot partner your lady in a purchase which means no Thai institutions will enter into a loan with you. She will have do do all the deals on her own.
You will find that the Thais can also seek proof that any monies used to purchase property have come directly from your lady's savings and not from you running funds through her accounts.

Beware the Thai authorities can confiscate property where marriages/divorces are made for the purpose of purchasing property.Thailand is very protective of Thai land getting into and under the control of outsiders.
The means may be likened to a seed ,the end to a tree;
And there is just the same inviolable connection between the means and the end
as there is between the seed and the tree.
............. Mohandas Karamchand GANDHI

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StevePIraq
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Re: Thai Partner wanting to buy property in thailand

Postby StevePIraq » Sat Jan 07, 2017 12:09 pm

My two pence worth, if she wants to buy a house for her family then let her do it with her money as you will never see any return on it and you will never have the house. Don't get involved in this as it is just the typical Thai way of getting a Farang to pay for all of their family. Next they will need a pick up, school fees and do on.
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali


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