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Explorer8939

Conveying Condo Ownership Interest without A Title Deed

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Explorer8939

So I bought a condo and now have myself on title. The problem is that I have a partner who is supposed to have a 50 percent interest. They were not in Thailand, so they couldn't sign any documents, so they are not on title.

What they want is some sort of Thai document that gives them claim to the condo if I kick off. My guess is that one of these two documents would be enforceable in the event of my demise:

A Thai last will specifying them as the beneficiary, or

A note on the property with them as Trustee. The note would be payable in the event of my death.

What we don't want to do is put them on title, since that will cost a lot in transfer taxes.

Your thoughts?

 

Edited by Explorer8939

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ricktoronto

Use a will prepared by a Thai lawyer. If this property is the only asset then make the partner the executor and they can transfer the interest to themselves.

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bobSL1

Explorer, I have heard it can cost a lot using a Thai lawyer to get a court order on farang condo's left in a will. Due diligence required.

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