Security of land deeds

Legal issues related to buying land, houses, condos in the LOS. Anything about contracts. Finance related, such as getting a mortgage, buying property from the bank, etc.

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Security of land deeds

Postby SwissTony » Mon Jan 21, 2013 8:10 pm

I’m concerned about the security of land deeds of our newly-built house in Sisaket province. The deed is in my Thai wife’s name so am I right in assuming that no one else, not even another family member, can do anything with the deed should it fall into their possession, like pawning it for instance? Also to transfer the land out of her name she would have to be physically present when the transaction is made at the Land Office, is that correct? Any advice welcome.
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Re: Security of land deeds

Postby Roger Ramjet » Mon Jan 21, 2013 10:01 pm

SwissTony,
You have every right to be worried about the land deeds. Family members have a bad habit of hocking something they don't own, normally to a loan shark. My wife's brother did it (or tried to do it) with my wife's house in Sara Buri, but as we hold the land title deeds for it in our safe in Bangkok it did not get past 1st base. My wife was even rung by the would be loan shark who demanded we bring the deed with us to the police station at Sara Buri, but she ignored the implied threats. And I politely told him to stop or he'd have to talk to one of the uncles (retired army officer).
Be careful.
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Re: Security of land deeds

Postby Sometimewoodworker » Tue Jan 22, 2013 11:29 am

Does RR has said you do have to be concerned about security of the land deed. It can and is used for security for a loan by somebody who doesn't own it.

I would suggest that you get a SafetyDeposit box in a bank ours costs us 300 baht a year.
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Re: Security of land deeds

Postby thaicbr » Tue Jan 22, 2013 4:20 pm

STWW. That safety deposit box idea is a good one.. what is the Thai name for it (if any)?
Which bank do you have yours with?
Thanks Allan







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Re: Security of land deeds

Postby Sometimewoodworker » Tue Jan 22, 2013 8:11 pm

thaicbr wrote:STWW. That safety deposit box idea is a good one.. what is the Thai name for it (if any)?
Which bank do you have yours with?
Thanks Allan

0

Ours is with Kasakorn in Udon Thani we did have to go to several branches to find one that had a box available. We also had to open an account so that the annual fee could be deducted. I've just checked with SWMBO and the fee is ฿500 pa with a key deposit of about ฿2,000 (that might be per key) the name in Thai is. "ตู้นิรภัย"
Ours is the smallest size and would hold about a ream of A4 paper with space I front for bank books. Larger sizes are more expensive.
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