TotallyOz Posted June 24, 2007 Posted June 24, 2007 I have been taking care of some family business recently and setting up some trusts for my sister’s children. It is very easy to do in the USA and I am very comfortable with the situation. I have one boyfriend in Thailand that I also want to be sure he is taken care of for a long period of time. I want to buy a house for him and his family but I want to insure it will not be sold off at the first chance money is needed. Is there a way that I can purchase a house there and it be in the name of my BF but without his ability to sell the house for a certain number of years? Quote
Gaybutton Posted June 24, 2007 Posted June 24, 2007 It would require an attorney to give you an answer you can truly rely on, but my inclination would be to guess that it can't be done. If the house is in his name, then it's in his name and in his control. The only way I can think of to do it would be to buy the house in his name and take out a pre-paid rental contract in your own name for the maximum number of years allowable, thirty I think. You could have some sort of stipulation in the contract that renders the contract null and void if anything happens to you. You would definitely need a Thai attorney for that because the contract would have no validity unless it's registered in the land office. The boy couldn't cheat you by refusing to sign the rental contract because all of it is done at the same moment before any money exchanges hands. The house would remain in your control for the duration of the rental contract and he would not be able to sell it or mortgage it, at least not legally. Just make sure the original "chanoot," the deed, is kept somewhere under your control where he can't get his hands on it until you say so or if you die. The reason for that suggestion is because the boy could collateralize an illegal loan from one of the local loan sharks with it. If the loan shark registers it with the land office, then the house belongs to the loan shark if the boy hasn't paid off the loan by the time your rental contract expires. Quote
TotallyOz Posted June 24, 2007 Author Posted June 24, 2007 The only way I can think of to do it would be to buy the house in his name and take out a pre-paid rental contract in your own name for the maximum number of years allowable, thirty I think. That is good advice. Thanks. If the house is also in his name that will help with a visa to USA or EU correct? Would it matter that a pre-paid rental contract is there? Is there a way the embassies check this? Quote
