30 years ? Can sell the property while renting for 30 yrs ?

[Johan]

Hello,

My wife is worried as if happen something to her as the home is in her name i will have difficulties to stay here and resale my home in the future.

Well, can i "rent" for 30 yrs and have a 30 yrs security AND SELL the home and cancel the 30 yrs renting when my wife and me want to move to another home ?

Right now everything is in her name, well, i paid for everything but this is Thailand. If she have an accident i don't want to loss my home and even if i can't sale the home at that moment i will stay here for 30 yrs or rent it to someone to make some cash.

But we are people who like to move, we like to change our home every 12-24 months. I don't like to stay at the same place for very long. So, question : Rent for 30 yrs from my wife possible if we want to sell the property 6 months later ? It's just for my own security.

Thanks.

[lindosfan1]

Sell now and move to troll land

[Arcadian]

Blimey! something you don`t know.

[pharvey]

Sell now and move to troll land

[JimmyGreaves]

Johan

I would just live in it as long as you want then when your ready to move buy another house and put it in her name, if you want to move again just do the same. Don't worry about the money as long as you have the wife that's the most important thing, try for a few kids and you will then have a purpose in life with a few responsibilities . Remember money cannot buy you happiness! Go for it, you only die once!

[Super Joe]

Johan,

Yes, you should register a 30 year lease, or lifetime Usufruct (although possibly a bit optimistic given your ability to upset Thais ), at the land office, then if anything happens to your wife, whoever acquires the property has to honour your right to live there. It's Thai law and not some private agreement that can be wriggled out of.

When you both want to sell, you just cancel the lease.

And if you haven't already got them, you should have wills drawn up, or at least she have one that leaves the property to you. Without one you do not inherit the property if she passes away under the law, even if legal spouse, farang or Thai. Without a will spouses have to share it with the deceased persons kids, parents, brothers/sisters, aunts/uncles, pool table shop managers etc. And you can imagine how easy trying to share with the in-laws will be for a farang

SJ

[pharvey]

This has been gone through previously I'm sure, but can't seem to find it. SJ - with both my wife and I being foreigners, how could I (or can I) obtain a ''Lifetime Usufruct''. Currently have a 30 year lease, with the usual promise of an additional 30 plus 30 years.....

[Super Joe]

This has been gone through previously I'm sure, but can't seem to find it. SJ - with both my wife and I being foreigners, how could I (or can I) obtain a ''Lifetime Usufruct''. Currently have a 30 year lease, with the usual promise of an additional 30 plus 30 years.....

You can Pete, but you would need the landowner to agree to it, assuming that there's nothing in your lease agreement allowing it, and if yours is who I assume it is, she would no doubt charge a nice fee if deciding to do it. You would want it alongside the lease as they both have certain rights that the other doesn't, so a bit stronger.

SJ

[Johan]

Thanks for the responses Super Joe.

[Rider]

Hello,

My wife is worried as if happen something to her as the home is in her name i will have difficulties to stay here and resale my home in the future.

Well, can i "rent" for 30 yrs and have a 30 yrs security AND SELL the home and cancel the 30 yrs renting when my wife and me want to move to another home ?

Right now everything is in her name, well, i paid for everything but this is Thailand. If she have an accident i don't want to loss my home and even if i can't sale the home at that moment i will stay here for 30 yrs or rent it to someone to make some cash.

But we are people who like to move, we like to change our home every 12-24 months. I don't like to stay at the same place for very long. So, question : Rent for 30 yrs from my wife possible if we want to sell the property 6 months later ? It's just for my own security.

Thanks.

Leasing always seems like a scam to me, you either buy the land and if you can't buy it, get a lifetime lease (that lasts for your life!). If you can't do that, RENT!
Leasing is more beneficial for the younger folk amoung us, (if it's a lifetime lease deal).

[Johan]

I have a wife and a baby, renting price increase every year, with the actual economy after 8-10 years you could buy the full property, after this delay even if someone want to take your property you still be the winner of the story. I bought it a year ago, saved arround 300 000 bahts in rent.

The only problem is if my wife have a problem, what would happen to my property, i believe people will try to take it from me. So i want a security in case this happens, at least i will have it for 30 years, it's better than nothing.

[poosmate]

Leasing always seems like a scam to me, you either buy the land and if you can't buy it, get a lifetime lease (that lasts for your life!). If you can't do that, RENT!

Leasing generally is just a vehicle to enable a foreigner rights to land. In most cases in a new build there is no 'rent' paid as it is included in the house/land price so no scam there.
Most developers would be happier if their clients were able to buy the freehold or obtain a lifetime lease ( 30 year max presently ) as future tax and other problems would be avoided.
As for renting long term as Johan points out is throwing money away as the rent will pay for a house/land in maximum 10 years.
Some that bought houses in the last 5 years in Hua Hin have made a considerable profit and this trend continues in my opinion as Hua Hin is still a growing market for most developers of quality.

[Pagey]

SJ Wrote : Without a will spouses have to share it with the deceased persons kids, parents, brothers/sisters, aunts/uncles, pool table shop managers etc.



It wasn't wasted SJ..............................

[cookmanchef]

Like it!

[Super Joe]

Leasing always seems like a scam to me, you either buy the land and if you can't buy it, get a lifetime lease (that lasts for your life!). If you can't do that, RENT!

You'd be scamming yourself if you rent mate!!

Say a 5m Baht place, you rent it for 25k/month and stick the 5m in the bank. The seller was offering you a 56% discount on the rent from day 1, ie: 5m over 30 years = 14k/month, but more importantly inflation proofing the deal by freezing your rent at 14k.

Leaving lifetime rights to one side and just looking at 30 years and you're both told to leave, the buyer isn't walking away from their 5m investment, but walking away with 23m Baht in saved rental fees to start over. The renter kept hold of his initial 5m capital, but that got used up after 12-14 years due to inflation, and then had to spend an additional 18m in rents, and walks away all scammed-up to my thinking???

After 30 years of 5-6% inflation on the property prices, less than the last 30, and the monthly rental goes from 25k to 135k a month, so you have to keep that income rolling in month after month, without hiccup like exchange rate crashes, medical disasters, divorces etc. If your business goes tits up 10, 15, 20 years into it and you had bought, there would be sizeable equity to borrow against or sell on the lease (albeit a very diminished one), but still enough to carry on. If you're renting there's no equity.

Look at 40 years and it gets really daft, the 18m in rents goes up to 40m... unless I've got me figures ar$e-about-face, or left something out of the equation

SJ