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Originally Posted by LivinLOS
100% correct.
Thai law is only able to hold the initial 30 years, the +30+30 options are merely 'a future intention' and one with huge holes in the law if the owner could demonstrate any material change which after 30 years is guaranteed. Thats even assuming the same person still owns the land which the lease is drawn up on.
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Not 100%.
I think the problem here is a natural person is being treated the same as a juristic person. I believe a company has different obligations and restrictions (such as ownership transfer or bankruptcy) than an individual.
In addition, you can't put all companies in the same basket.
Clearly a large company like Land & House and Ramond Land are in the business for the long term. Sure even a crack wh0re could get listed on the Thai stock exchange, but at least it gives you some additional visibility into the company. A BOI approved company like Laguna, or perhaps an established wealthy local family (like Villa 5) can't be compared with a fly-by night thai or farang taking there first run at a property project looking to make a fast buck.
Condos are a fairly new thing for phuket so they aren't necessarily better than a lease if you get in with the wrong company. And I'd never get involved with an individual.
Quote:
Originally Posted by LivinLOS
A usufruct is possibly better but all of these options presume that the home is purely a dwelling not a tradeable asset. The whole idea of 'investing' in real estate over providing yourself a place to live long term is simply not catered to in the options.
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I think usufruct is a stretch and I wouldn't want to test this one in the courts.
FYI, dense but semi-interesting rant here
The Thailand legal website - NEED TO KNOW - buying real estate, land, house sale and purchase procedure