to buy or not to buy

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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BKKBILL
Posts: 3127
Joined: Tue May 26, 2009 10:05 pm
Location: Mae Taeng, Chiang Mai

Re: to buy or not to buy

Post by BKKBILL »

In Thailand, a usufruct can be created for a limited time (5 years, 10 years, etc.) or the LIFE of the usufructuary. (sect. 1418 CCCT). If no time has been fixed, it is presumed that the usufruct is for the life of the usufructuary. In any case, the usufruct ends at the death of the usufructuary.
It's not who you know, it's whom you know.
Nemo
Posts: 12
Joined: Sun Aug 30, 2009 7:17 pm

Re: to buy or not to buy

Post by Nemo »

Usufruct it is then. Everything else just seems unnecessarily complicated.
I suspect that there might be some benefit in restricting oneself to 1 rai only - due to the theoretical possibility of getting permanent residency eventually (i there's much to be gained in having that), and then being permitted to properly own no more than 1 rai... or is it just pointless thinking about that? (it's no bother to me to just be on a tourist visa and visit on regular 2 or 3-month shore leave, I s'pose).

I don't know if I need a mortgage (...and I realise it's just owning a debt, the bank owns the asset); but I hear there is something in not having a fully paid up asset when you've got a local spouse to contend with... but if you can "own" unassailable property rights on the "shack" you plonk on the usufructed land, perhaps just pay-as-you-go self-build on a modest budget would be a relatively low-stress way forward.

Do they have such things as "planning permission" in Thailand out of interest? For instance, if you wanted to build a modular style building, and add bits on - like a building a Balinese moonbase or something! Would that be a recipe for expense, paperwork, and complications?

Let me know if I'm asking silly questions or talking rubbish! :mrgreen:

Cheers in advance.
jazzman
Posts: 2237
Joined: Wed Dec 06, 2006 9:11 pm
Location: Nong Bua Lamphu, Thailand

Re: to buy or not to buy

Post by jazzman »

Nemo wrote: Do they have such things as "planning permission" in Thailand out of interest? For instance, if you wanted to build a modular style building, and add bits on - like a building a Balinese moonbase or something! Would that be a recipe for expense, paperwork, and complications?
There are threads on this board that discuss planning permission in detail and the procedure and cost, but basically planning permission is only required in municipal and/or built up areas. In villages and the countryside generally no permission is required whatsoever. However, you must find out. Do this preferably from a neigbour, because if you ask at the local Or Bor Dor office they will of course recognise the opportunity to make some fast tea money and say it is required even if it is not. (ref: Amphur Phu Wiang, Khon Kaen province, Jan 2007)
Once you have permission to construct (if you need it) you can modify your drawings, or add bits on later as much as you like, there are no inspections. For example, new planning permission is often not required if you demolish an old house and build a new one in its place. (ref: Amphur Sri Chiang Mai, Nong Khai province, July 2009).
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