I am not a condo person. I like my own privacy ....walls....peace and quiet .....and neighbors far away. ..I do love Thailand..but this stupid law is keeping me from moving there , ,and for many reasons. that are not addressed in this video. .To me ..every time I watch one of these videos...both the buyer and the lawyer seem to go way out of their way to avoid the elephant in the room of this 30 year lease. .and that is "what exactly happens if you decide to SELL house before the 30 year lease on the land , is up ?" Since that is by far the most likely scenerio , you need to know exactly what the process is , ,and now the market price of your house and land might be greatly reduced as you get closer and closer to the lease date . ALl things being equal....same house...same location, apples to apples....why would some buyer buy the house and land from a foreigner that has a 15 year old house..and only 15 years remaining on lease and pay same as he would for a new house on a full 30 year ? THAT is the danger here with these leases. They put you in a value trap. ...your own house. ...and the house now becomes like a boat ...or any other time limited depreciating asset. What am I missing here ? No one will hold a house for 30 years. People sell long before they get to 30 years. But even if they hold only a few years, they have taken a hit on their lease time.....and that means a dollar hit most liklely. This puts a big advantage to other countries that do not play this land lease game. He vaguely mentions latter , in video that you can do renewal of lease....maybe....another 30 years....But what does that mean ? To me it means only if you get to the end of the original 30 year lease ? And the entire point here is to be free to SELL house and land whenever you want ..and not be forced to keep it for 30 years ...or forced to do anything that a real owner of the land would not have to do.
You do not understand Thailand. They do NOT want foreigners to own land. You want to own land. Your under the impression that your desires rain supreme here....they do not. Its a dumb law to you because your not getting what you want. Not dumb to Thais because they are getting what they want. Dont attempt to build or buy a house on land they do not want you to own. Problem solved. The problem comes in for you when you want to own free and clear which they do not wish you to own. This is your problem. Not Thailands.
did you not listen? He said make a contract that allows you to get a further 30 year period after the initial lease expires. So even if you sell the new buyer should still have this option if the paperwork is done correctly.
@@mdizzle7034 Yes,,,I heard that "IF " ,..but I also heard it doesnt work...when I go to sell to some other ex patriot...and even if it does...you have to convince HIM to now buy it..... Why would he take such a risk ? I will not. Too many other places to go where this is not such a complex game and so scary. .
So, I just want to be clear: After making a purchase, I will have a 30-year lease with the option of an additional 30 years through an oath statement. My main concern is that if the lease is not renewed, I would no longer own the house situated on the leased land. You asked what happens after 30 but he didn't answer he just said you get another 30 but what happens after 60? (if I'm hopefully still alive)😂
@@THAILANDEASY_ yes, your are right. If a lease is renewed after 30, i would consider that being lucky. There's no legally binding oath in the Thai law... as far as I know.
This is the best video about homeownership. This question is for the RUclips video owner of this channel. Is leasing the same as renting but with a long term agreement or do you have to pay rent also with paying for the lease?
Yes you will be a minority shareholder with 49% of the shares but you will have 3 or 4 Thai partners in the company which owns the land. These 3 shareholders will have 17% each. And they will have no voting rights. You are the director of the Ltd. Nothing can be done regards to the company without your signature and agreement. Where is the issue? Regards to the lease you would be very ill advised to include a clause of renewal after 30 years as the Courts have decided many times that it constitutes a bypass of the standard law that foreigners cannot own lands in their name as 60 years is considered by the Courts as the same as owning the land. Never include this clause and have a separate agreement for renewal at market price minus X Y Z.
Hi Edward, excellent video. Jimmy with his experience gives so much valuable advice, and comes across as a person of integrity, I would definitely feel better having him looking out for my interests. Great informative interview with Jimmy, thank you. 🙏 Kind regards from Ireland 🍀🍀.
Question is, after paying for the lease fee every month for 30 years and if you want to sell your house at the of lease expire for the land then, its not a good investment just on the house as the land is not yours. Very risky in my opinion.
not really. in a traditional mortgage you gain equity every year of paying. But with the lease scheme every year you lease reduces the value of the home because of the expiration date.
What if you form a company to buy the land, then have the company lease the land to you on a 30+30 year contract? Then you build a house which you own. That way even if your Thai 51% shareholder defrauds you on the company, you still own the house and have a long lease on the land.
Even if your married to a Thai women with kids you won’t get citizenship. Unless you have a crap Load of money they won’t bother with you. You need a lot of money to be considered or have done a lot for Thailand in regards to tourism, or promotion etc.
I think in my case with Thai girlfriend best solution is. Land on name gf, leasecontract with option renewable AND power of attorney from gf to me that I can sell, rent out, encumber, keep the profit land when selling, et cetera like owner of land, AND the ownership of house according the right of surface.
@@THAILANDEASY_trust or no trust doesn't matter because if she lease the land to you for 30 years + sign an agreement for the extension of another 30 years everything is legal...
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I am not a condo person. I like my own privacy ....walls....peace and quiet .....and neighbors far away. ..I do love Thailand..but this stupid law is keeping me from moving there , ,and for many reasons. that are not addressed in this video.
.To me ..every time I watch one of these videos...both the buyer and the lawyer seem to go way out of their way to avoid the elephant in the room of this 30 year lease. .and that is "what exactly happens if you decide to SELL house before the 30 year lease on the land , is up ?" Since that is by far the most likely scenerio , you need to know exactly what the process is , ,and now the market price of your house and land might be greatly reduced as you get closer and closer to the lease date . ALl things being equal....same house...same location, apples to apples....why would some buyer buy the house and land from a foreigner that has a 15 year old house..and only 15 years remaining on lease and pay same as he would for a new house on a full 30 year ? THAT is the danger here with these leases. They put you in a value trap. ...your own house. ...and the house now becomes like a boat ...or any other time limited depreciating asset. What am I missing here ? No one will hold a house for 30 years. People sell long before they get to 30 years. But even if they hold only a few years, they have taken a hit on their lease time.....and that means a dollar hit most liklely. This puts a big advantage to other countries that do not play this land lease game. He vaguely mentions latter , in video that you can do renewal of lease....maybe....another 30 years....But what does that mean ? To me it means only if you get to the end of the original 30 year lease ? And the entire point here is to be free to SELL house and land whenever you want ..and not be forced to keep it for 30 years ...or forced to do anything that a real owner of the land would not have to do.
Hit the nail on the head. 😊
You do not understand Thailand. They do NOT want foreigners to own land. You want to own land. Your under the impression that your desires rain supreme here....they do not. Its a dumb law to you because your not getting what you want. Not dumb to Thais because they are getting what they want. Dont attempt to build or buy a house on land they do not want you to own. Problem solved. The problem comes in for you when you want to own free and clear which they do not wish you to own. This is your problem. Not Thailands.
did you not listen? He said make a contract that allows you to get a further 30 year period after the initial lease expires. So even if you sell the new buyer should still have this option if the paperwork is done correctly.
@@mdizzle7034 Yes,,,I heard that "IF " ,..but I also heard it doesnt work...when I go to sell to some other ex patriot...and even if it does...you have to convince HIM to now buy it..... Why would he take such a risk ? I will not. Too many other places to go where this is not such a complex game and so scary. .
So, I just want to be clear: After making a purchase, I will have a 30-year lease with the option of an additional 30 years through an oath statement. My main concern is that if the lease is not renewed, I would no longer own the house situated on the leased land. You asked what happens after 30 but he didn't answer he just said you get another 30 but what happens after 60? (if I'm hopefully still alive)😂
Be very careful with "oath", who knows what happens after 30 years. The best to consider it as 30 years only
@@THAILANDEASY_ yes, your are right. If a lease is renewed after 30, i would consider that being lucky. There's no legally binding oath in the Thai law... as far as I know.
Biggest Condo Project in Samui 2023! My Video with Wing Samui
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This is the best video about homeownership. This question is for the RUclips video owner of this channel. Is leasing the same as renting but with a long term agreement or do you have to pay rent also with paying for the lease?
Hello. Thank you for support. Yes, the lease is the same as rent
please, make some video comparing Houses they sell in Thailand
thank you for your feedback, I will
I like this law firm, will use them in the future.
I enjoyed the interview, all valid points and great questions. Thanks
Glad you enjoyed it!
Yes you will be a minority shareholder with 49% of the shares but you will have 3 or 4 Thai partners in the company which owns the land. These 3 shareholders will have 17% each. And they will have no voting rights. You are the director of the Ltd. Nothing can be done regards to the company without your signature and agreement. Where is the issue? Regards to the lease you would be very ill advised to include a clause of renewal after 30 years as the Courts have decided many times that it constitutes a bypass of the standard law that foreigners cannot own lands in their name as 60 years is considered by the Courts as the same as owning the land. Never include this clause and have a separate agreement for renewal at market price minus X Y Z.
Thank you for this information
My pleasure
I heard it's illegal for foreigner to buy condo via a company from 51% quota
Thank you for the information. As always, everything is top notch.
My pleasure!
What about if owner of land die ?? And owner don’t have anyone to took over ?? Then land go to foreigners??
interesting, I'll ask the lawyer. but do you really think it's possible someone doesn't have relatives to take over the land?
Hahaha 😂😂😂
Lol 😂😂 funny but tricky situation
most likely it will be owned be the government again
Hi Edward, excellent video. Jimmy with his experience gives so much valuable advice, and comes across as a person of integrity, I would definitely feel better having him looking out for my interests.
Great informative interview with Jimmy, thank you. 🙏 Kind regards from Ireland 🍀🍀.
Glad you enjoyed it! Thank you for your support!
I don’t get why anyone would buy a house and not own the land . It sounds like a big problem in the future.
do you suggest buying land with a Thai company?
Very good! Thanx
Glad you liked it!
I really liked this video
Glad you liked it. Thank you
Question is, after paying for the lease fee every month for 30 years and if you want to sell your house at the of lease expire for the land then, its not a good investment just on the house as the land is not yours. Very risky in my opinion.
Opposite. That's a not risky option as Lease is 100% legal option. You wanted to say it's not the best investment I believe.
thank you - very useful
Glad it was helpful!
Very nice interview
Glad you
Liked it
Just lease the whole house same thing,Peole buy in the us but really leasing from the bank for 30 years
not really. in a traditional mortgage you gain equity every year of paying. But with the lease scheme every year you lease reduces the value of the home because of the expiration date.
big risk with opening a company and buying land though
Indeed
What if you form a company to buy the land, then have the company lease the land to you on a 30+30 year contract? Then you build a house which you own. That way even if your Thai 51% shareholder defrauds you on the company, you still own the house and have a long lease on the land.
Not clear what happens if you buy land with your wife and you divorce (with no prenuptial agreement) ?
50 - 50 . Prenuptial agreement video i s on the way
Not that different from other countries with similar ownership restrictions.
Believing Thai girl is like.. Believing that you can hold sun in your hand.. No matter whatever the angel you hold. Finally you are the loser.
@Thai girl Ploy and Farang Jay I never make a investment, but you may need a lawyer soon.
@Ploy and Jay all the best 👍💯. Welcome to hell 🤣
What about becoming or applying for Thai Citizenship and than buy the house?
You can't just apply for Thai Citizenship. Unless you have to a Thai spouse.
@@THAILANDEASY_Married one get 30+30+30 free guys kap.🤡
When can apply for Thai citizen if married to Thai lady
@@THAILANDEASY_ even not through the neutralization processes ? if you continuously live for 5 years there?
Even if your married to a Thai women with kids you won’t get citizenship. Unless you have a crap
Load of money they won’t bother with you. You need a lot of money to be considered or have done a lot for Thailand in regards to tourism, or promotion etc.
It's very silly to buy landed house in thailand and don't get cheated guys in the kingdom kap.🙏
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Is 30+30+30 ????
Good question. I'll ask when I visit the Lawyer next time
Is there a monthly fee “lease fee” for leasing land?
you discuss everything with a landlord. usually you make agreement for 30 years and pay in advance every 3 years for example.
🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻
🙏🏻🙏🏻🙏🏻
Trust me don’t lease and waist your money ,too many problems.
find a thai person, pay them a fee purchase the house thru them and sign a 99 year lease.
Would you trust someone like that purchasing the house on their name?
I think in my case with Thai girlfriend best solution is. Land on name gf, leasecontract with option renewable AND power of attorney from gf to me that I can sell, rent out, encumber, keep the profit land when selling, et cetera like owner of land, AND the ownership of house according the right of surface.
sounds like the best option so far when you have a gf who you can trust
@@THAILANDEASY_trust or no trust doesn't matter because if she lease the land to you for 30 years + sign an agreement for the extension of another 30 years everything is legal...
Totally agree with that..
It’s easy, marry a Thai women have kids and then put everything into the kids name done a settled
sounds like a plan
@@THAILANDEASY_just cost a bit 😂 haha having kids is it an asset or liability? 555