Usufruct

[canthai]

Hi, I would like some advice. I own a home in Hua Hin. The house is in my wife's name (Thai). We have owned the house for more than six years now. We have three children who are over 18 and each have a Thai passport and a Canadian passport. They all have Thai ID cards as well. In the event my wife dies before me I would like to remain in the house. We currently have wills prepared here in Canada. My wife's will is written in the way that upon her death the house in Thailand will transfer to our three children. Our children understand that I would continue to occupy the house in Thailand for my retirement years. Should I be looking at getting an usufruct in place. I understand that there is a tax to be paid when filing an usufruct at the Land Office equal to the tax assessed on a the amount of rent that would be reasonably collected for the term of a similar lease agreement. There is no threat that my children would sell the house from underneath me.


Cheers
Craig

[Bristolian]

Please take a look at the recent thread

viewtopic.php?f=20&t=22391

understand that there is a tax to be paid when filing an usufruct at the Land Office equal to the tax assessed on a the amount of rent that would be reasonably collected for the term of a similar lease agreement

I am no expert in these matters but recently I went through the proceedure of having a usefruct drawn up and I certainly did not pay any tax based on any calculation of reasonable rent.

There are many experts in the forum who answered similar questions in the above thread and I am sure will be able to answer you question more fully.

[sandemb]

viewtopic.php?f=20&t=22391&hilit=usufruct Lots of recent info here!

[jingjoe]

I asked the same question of lawyer and the answer i got was if wife has willed the house to the children and they agree to leave you in the house,then there is no problem if your wife dies first.One of the children becomes legal owner and they can let you stay, or not, up to them.
Just make sure santa doesn't forget where they live for the next few years.

edit. i noticed you have a will in canada, i would suggest getting one in thailand and in thai also, so the local officials can't complicate thngs.

[buksida]

When I did it the fee was 75 baht and there was no tax to pay, this was a standard govt one and not a fancy one drawn up by a lawyer - each different land office will obviously have their own set of rules (and prices) though.

[canthai]

Thanks for the replies. I heard some time back that they would not register an usufruct at the Hua Hin land office. Is that the case?

Thanks

[Bristolian]

Thanks for the replies. I heard some time back that they would not register an usufruct at the Hua Hin land office. Is that the case?

Thanks

We had a usufruct regestered at the Hua Hin land office 18 months ago. Not sure if they have changed this in the meantime

[StevePIraq]

We also have a Usufruct however all of the house documents are in Thai, any idea which one it is, what it looks like or even an example

[buksida]

It should be written on the back of the chanote.

[petercr]

We cancelled a Usafruct during our property sale two weeks ago and the new owner resgistered a Usafruct in his name at the same time............Hua Hin land office.

No tax to pay but there was a request for Bht5k to register the new Usafruct

[Bristolian]

We also have a Usufruct however all of the house documents are in Thai, any idea which one it is, what it looks like or even an example

The Usafruct document has the Royal Thai Emblem at the top ( I know that this does not help much) it will also show your ages at the time of the Usafruct and will have your signature at the foot of the document, below your wife's signature. None of the other land regestry documents will have your signature

[Super Joe]

We also have a Usufruct however all of the house documents are in Thai, any idea which one it is, what it looks like or even an example

The Usafruct document has the Royal Thai Emblem at the top ( I know that this does not help much) it will also show your ages at the time of the Usafruct and will have your signature at the foot of the document, below your wife's signature.

Part document only...

SJ

[StevePIraq]

SuperJoe
Thanks so much for that post know I know exactly what I am looking for