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EASY BUT RISKY PROPERTY PURCHASES
Other foreign buyers decide to purchase property in the
name of their Thai husband, wife, boyfriend or girlfriend. Experience tells me
that this is certainly the most risky way to buy property in Thailand. I have
lost count of the number of times I have seen foreigners lose the full extent of
their investment in such circumstances.
The reality is that lots of relationships in places all
around the World end every single day, and relationships in Pattaya, for a wide
variety of reasons, tend to be especially brittle.
While blinded by love,
no-one ever thinks their relationship will end, but facts show that more often
than not they do. If a Thai who is married to a foreigner buys property, the
foreign spouse is obliged to sign an affidavit at the Land Office stating that
he or she has no claim on the money used to buy the property. Thus,
irrespective of who actually provided the money, once a property is in the name
of a Thai national, their foreign spouse will have no claim upon it if and when
their relationship breaks down. Some foreigners seek to protect themselves by
taking a lease of the home from their Thai spouse who is the legal owner of the
property. However, in spite of the existence of this option, my own experience
leads me to believe that for most foreign buyers the best way to purchase a
house is undoubtedly via the company route.
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