Good info, what if your wife dies before you!

alanthebuilder said:
Inheritance laws, wills and succession in Thailand

This is how you would stand..
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Yeah, well this part basically says it all:

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"Any foreigner who is married to a Thai national is under Thai law a statutory heir of their Thai spouse can apply for ownership according to section 93 of the Thailand Land Code Act. However, the over fifty year old Section 93 of the Land Code must seen in combination with Section 86; 'aliens may acquire land by virtue of the provisions of a treaty giving the right to own immovable properties and subject to the provisions of this Code'. The last treaty was terminated in 1970 and there is currently no treaty with any country to allow a foreigner to acquire land and no minister will allow a foreigner to inherit land in Thailand. Under present law any foreigner who acquires land by inheritance will have to dispose the land within a reasonable period (meaning up to 1 year) to a Thai national. If the foreigner fails to dispose of the land the Director-General of the Land Department is authorized to dispose of the land and retain a fee of 5% of the sale price before any deductions or taxes. "
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Now, try selling your house and land built in the wife's village to anyone besides a family member when she passes on. You'll have little to no chance of finding a buyer. You can put the property under the name of your Thai (look krueng) child, if you have one with your Thai wife, and if they are a Thai citizen. Some farang I know of have incorporated and have the house under the company name with a 30 year lease on the land. That's another way around it I think.

The land laws here are totally ridiculous and discriminatory against foreigners with Thai spouses. Personally I'd rather buy income property in the states with my money, and rent a place here. Cheap enough to do really, and you can always 'git while the gittin's good' if you know what I mean.

JMHO.

Mike/Cent
 
I knew a guy in Koh Samui and his wife died,the family can down and they had to sign some paperwork so he could sell the house.He said he would give them 100,000 as a good will gesture,when they saw the house they said they would only sign for 1 mill.So he took them to court,the Judge sided with him and they had to sign the paperwork for free,he gave them sweet FA,som nom na for being greedy.:Beer1:
He then sold the house and built a new one on the beach and has a beautifully new wife from Sri Saket.Some stories do have a happy ending :Chokdee5:
 
Good to hear,Alan

I think the answer is find another good woman within a year of the last models demise :Chokdee5:

and to do a few legal bits before it happens! :GrinNod1:
 
Not to be a negative Ned, but... He's lucky he didn't suddenly die or disappear. Good to see he had an honest judge that sided with him rather than the Thai family. Wonder how much he gave the judge? (Joking.) :)
 
But, you do have the right to sell the property you inherit from the wife if she dies, although I have heard differing time limits. The article ATB shows says up to a year. I have heard it is around 90 days. I wonder if this varies from region to region?
 
Cent said:
Not to be a negative Ned, but... He's lucky he didn't suddenly die or disappear. Good to see he had an honest judge that sided with him rather than the Thai family. Wonder how much he gave the judge? (Joking.) :)
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I don't want to get off topic but it amuse me when comments like this are made.Yes I do remember a few stories of people getting killed for money but doesn't that happen the world over,not just in Thailand.I still have faith in legal Juridical system here though, from what I have seen !!!
Good joke though Mike.:D
 
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All joking aside don't we all make our lives here knowing it will be passed on to the Thai family anyway.:?
An old friend of mine always said " never invest more than you can't walk away from and you can't go wrong " Wise words IMHO.:GrinNod1:
 
alan crisp said:
All joking aside don't we all make our lives here knowing it will be passed on to the Thai family anyway.:?
An old friend of mine always said " never invest more than you can't walk away from and you can't go wrong " Wise words IMHO.:GrinNod1:
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is he still alive and living under a bridge somewhere ?? :ShitHappens1:
 
Dave The Dude said:
is he still alive and living under a bridge somewhere ?? :ShitHappens1:
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No he is living still happily married ,living in the small bungalow he built for him and his wife,sometimes shit doesn't happen. But if it does, he has money to start again somewhere, he won't be bitter and twisted .:D
 
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alan crisp said:
All joking aside don't we all make our lives here knowing it will be passed on to the Thai family anyway.:?
An old friend of mine always said " never invest more than you can't walk away from and you can't go wrong " Wise words IMHO.:GrinNod1:
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Alan,

Yes, I agree, never invest more than you can afford to walk away from here in Thailand. Which does limit us at times in what we can do here, and how much we can 'afford to lose' is a big part of that. What I have here, build here, save here, businesses I start here, goes to my Thai family on my demise, to my wife and daughter. But I do have kids in the US as well (3) and now (5) grandkids too. They also are my family and are part of my 'estate planning'.

I have made my life here, for better or worse, mainly better, and everything in between. But, saying that, hey, things change, life takes unforseen paths, and I have no intention of letting the racist government of Thailand screw me by totally placing my assets at their whim and disposal. Part of the 'only invest what you can afford to walk away from' logic I guess. It pays to protect one's assets as much as is possible.

I've seen too many guys coming here do silly and stupid things financially, trusting in their partner (sometimes rightly, sometimes foolishly) and their 'hosts' here. Many go back home in financial ruin because they thought with the little head and not the big head. :Cry3::ShitHappens1: :CumOnFace::IdHitIt2::Beer1::eek:


JMHO.

Mike/Cent
 
alan crisp said:
I don't want to get off topic but it amuse me when comments like this are made.Yes I do remember a few stories of people getting killed for money but doesn't that happen the world over,not just in Thailand.I still have faith in legal Juridical system here though, from what I have seen !!!
Good joke though Mike.:D
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Alan,

"Yes I do remember a few stories of people getting killed for money but doesn't that happen the world over,not just in Thailand."

Sure, but truthfully I have heard of it happening here way more often than I have heard of these sort of stories in the states! Hey, I read Stickman on occasion. :Hate_Computer::;:Cry3:

"I still have faith in legal Juridical system here though, from what I have seen !!!"

Count me as: 'oh ye of little faith'. Still a third (okay, maybe emerging second) world country with a screwed up legal system it seems to me. Loads of corruption still.

"Good joke though Mike."

Glad it gave you a chuckle. :GrinNod1:

Mike/Cent
 
Shit doesn't happen just here,ask Baz:D
He's still smiling though,never met him but he seems like someone I could have a beer with.:D:eek::GrinNod1:
 
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alan crisp said:
Shit doesn't happen just here,ask Baz:D
He's still smiling though,never met him but he seems like someone I could have a beer with.:D:eek::GrinNod1:
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Agreed. I am surprised cos he goes to Staffords regularly,Alan. He is even a bit of a celebrity now that he has his pin-up picture showing at my Barbers shop. :Agree:
 
When I get back from Pattaya I will pop in for a beer :D
 
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your in Pattaya and spending long periods of time on the interweb?

Sound a bit strange to me, Alan!:Jump_Drool:

Say :Hi1:to your buddy for me :CumOnFace:
 
Dave The Dude said:
your in Pattaya and spending long periods of time on the interweb?

Sound a bit strange to me, Alan!:Jump_Drool:

Say :Hi1:to your buddy for me :CumOnFace:
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Sorry Dave, I'm in Patts next week for 4 or 5 days, the forum will be missing me I'm sure!!:D
 
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