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Originally Posted by ATMwalking
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.
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Chris, doesnt matter what the company is (tho a large listed company is far more likely to honour a future obligation) but the fact remains there is NOTHING to stop that company selling the land plot to a 3rd party. Once that plot is no longer owned by the person on the lease papers they +30+30 holds no power over the next owner and now current land owner.
I look at it like this.. What was land worth 30 years ago here ?? I heard beachfront being 10k a rai.. Only a decade or two back I know lots of beachfront was sold off at 50 - 100k per rai in the early 90's stage. Same stuff now would be 10mil. In 30 years time ??
So now you have a thai.. They have a lease which is saying that
thier land which they (or thier parents even) gave a 30 year lease away, for what looks like pennies in 30 year future money. And they are supposed to help you renew, just because you ask them to, or for a pre agreed sum (that again looks like pennies). They simply wont IMO. They will look at it as land worth 50 million, and thiers, it will be legally thiers and they wont even see it as not morally thiers. Listen to the Thai national anthem, played multiple times daily on TV, in schools, etc etc
Thailand is the unity of Thai blood and body.
land of Thailand belongs to the Thais.
While I am not saying that land and houses Raimon etc will default.. You have to believe with 100% faith that all of these legal entities will be around and the climate of farang acceptance will still be there and that legally unenforceable contracts will be honoured simply as that was thier intention.. Just too large a risk IMO it certainly isnt water tight as many pretend.
And the idea of simply leasing +30+30 of a land owning Thai family.. Forget that as having a hope in hell IMO.