| Ownership Information: Foreigners are generally not allowed to own land in Thailand, subject to certain exceptions. But in the past a company registered in Thailand could, and this is the way that it was commonly done. In our case we formed a company that bought the land. Then we have a lease agreement with our own company (we are joint directors) that gives us full rights to do as we wish with the land and the house that we built on it. The land has Chanote title, the best title, and our lease agreement is registered on the land deed at the Phuket Land Titles Office. The English version of the lease agreement is the legal version and we had the terms prepared by a law firm in Bangkok, which gives us full right to sell. New regulations place restrictions on the formation of companies to buy land that are not retroactive to our company. In our case the easiest way to sell the house is simply to sell the company together with the lease agreement. This involves changing the names of the company directors together with the names of the lessees registered on the back of the deed. This simple procedure presents no legal problem. It essentially gives freehold ownership. The owner can be the sole director of the company. Operating Costs: There are no property taxes on private homes, no heating costs, no arbitrary maintenance fees, and water is free from a water well, so operating costs are minimal. We have an excellent maid and handyman. We pay an annual rental fee to our company bank account from which we pay accounting fees for an annual report to the revenue department and a modest company income tax assessment. Purchase Price: We will consider reasonable offers on 24 million baht (depending on the value of the Baht.) for the house, land, and furniture, including the company. Applicable transfer fees are very small and shared. NOTE: Price has been reduced to 17.5 million baht. Serious offers will be considered. To Request More Information: You may contact us as follows: Bob at Tel/Fax: +(66)(0)76-388236 Mobile: +(66)(0)89-727-5407 email: cosmocampbell@yahoo.com |
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