Property purchase for son

Discussion in 'Thailand property' started by davemacca, Oct 25, 2011.

  1. davemacca

    davemacca New Member

    I wish to purchase a property in Burirum Thailand in my 2 year old sons name and have my girlfriend's mother's name as gaurdian , then my girlfriend as gaurdian , is this possible? and is it possible for the gaurdian to use the property as security for a bank loan and default on the loan so the bank takes ownership also i wish to place a will for my son if he dies have the property sold and i receive the sale?
    this seems the logical thing to do as a foriener as you never really own the land
    Any advice is welcome:stupid:
     
    Last edited: Oct 25, 2011
  2. Dave_Velasco

    Dave_Velasco New Member

    It depends on the surrounding law of the place or property you are planning to purchase.There are certain conditions of course, and I think what you can best do is to first ask the locals about it.
     
  3. CNX_Bruce

    CNX_Bruce New Member

    Yes a minor can own land in Thailand - there are pros and cons to this approach based on your specific personal circumstances - you need to research this carefully

    A minor under 15yo cannot make a Will in Thailand and you cannot make one for him/her

    Legally speaking, no, the guardian cannot sell or encumber the land with a loan. but I would suggest locking the title deed in a bank vault as an added precaution
     
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