Reader Submission: Condominium Buying and Will

Dear Dutch and Belgian friends,

First of all I would like to thank all the people who gave valuable advice to my questions. They were specific questions so I really needed a good and reliable lawyer to record everything neatly on paper. Because there were two persons who Mr. Surasak Klinsmith recommended from Siam Eastern Law I contacted him.

If you want to read my question and the answers (again): www.thailandblog.nl/kopen-condo-pattayajomtien/

Because I have been coming to Jomtien during the winter months for 10 years, I knew exactly where I wanted to live. Renting first has its advantages. My idea to buy a Condo now is because I have been very happily married to my wife Saengduean for six years now, which means very romantic moonlight. We have decided to live in the Netherlands for 6 months and the colder months in Thailand. I bought my condominium directly from the owner.

Making such an important purchase in Thailand for the first time is exciting. After we agreed on the price, we agreed that the transfer costs would be on a 50/50 basis. The seller's name is Frank, a very nice jovial man from America, who wanted to take an ordinary administration office downstairs in the apartment building. When I said I preferred a law firm, Frank said it was absolutely unnecessary. Well, of course he didn't run any risk, but I have to pay 2.500.000 Bath for a while, don't take any risk for such an amount. Remember the English expression: Penny wise Pound foolish.

I also did not know what the options are in Thailand regarding taxing real estate. In the Netherlands, the notary even checks once again just before the transfer whether there is still a mortgage on it. It is also possible that a creditor will make a claim on it. I told Frank that I still needed a lawyer in connection with my will and that I would pay the costs myself. So he stayed cozy with - I must say active - lady from his office and the collaboration with Mr. Surasak who did an excellent job of looking after my interests went fine.

I didn't even have to go to the land office and the power company I had signed authorizations for and the bank check in the name of Frank to Mr. Surasak given. As well as extra money for the transfer and the deposit for electricity. I have always learned to be frugal with my signatures. To sprinkle it so generously here in Thailand makes me feel uneasy. Then it is very important for me to have a safe and respected address, recommended by several loyal Thailand bloggers.

Because I always take cash with me and exchange my 500 notes at TT Currency Exchange, I had to look into how best to transfer the necessary money at a good rate. The maximum amount that the ING bank transfers to Thailand per day is 50.000 euros. Because I have an account here with the Kasikorn bank, I used Google to check the telex transfer rate every day. I was lucky the rate of the baht was rising. I was hoping for a while that he would go through 40,000. But when the exchange rate went back slightly, I had my ready transfers executed immediately. With mention, 'purchase condominium'.

I know the well-known exchange rate fluctuations by now. The first smaller amount was already in my account the next day. The largest amount was held at the headquarters in Bangkok. I received a nice message about this by e-mail. I immediately went to my Kasikorn branch office to prove what such a large amount of money was needed. After showing the preliminary purchase contract, passport and copy of Frank's passport and signing the well-known abundant signatures and waiting patiently, it was on my account. Then I also received the important Foreign Exchange Transaction form (FET form). This is absolutely necessary as I purchased the Condo on FOREIGN name. Meanwhile, the charming cheerful bank employee tried to split a life insurance policy in my stomach.

Frank told me later that he had no problem transferring the money from the check to his bank account in America in one go. The next day he received a message that it had arrived in dollars.

Because I am married on a prenuptial agreement, I bought the Condo in my name. Donations above 2000 euros per year are taxed in the Netherlands. After my death, the Dutch government is very generous again and I can even give my wife 600.000 euros tax-free. I wish I had it!

Now that I'm talking about death nicely, I'll move on to my TESTAMENT. It gives me a calm and satisfied feeling to take care of my loved ones. I also want to be clear about that. The will is drawn up in English and Thai. Every beautiful English sentence is directly below it in Thai. It only concerns my assets and bank balances in Thailand. Saeng inherits that. It is important to mention that Saeng has two nationalities, so also two passports. Because the Condo has more value in Foreing Name and easier to sell if necessary, Mr. Surasak opted for her Dutch nationality.

My will in the Netherlands remains unchanged because my Thai will states that I will not withdraw my previous will in the Netherlands. I just add my Thai will. It states: I do not revoke any and all former wills, testamentary dispositions and codicils in the Netherlands that pre-date this last will and testament.

The cost for a will has a fixed price of 10.000 Baht. This includes impressive stamps and signatures. Discuss the costs in advance for the transfer of real estate or other matters. mr. Surasak works together with two colleagues in the same spacious office when necessary. So he can advise on all kinds of problems.

Thailandblog is an excellent and indispensable resource full of valuable articles about this fascinating country.

Because I am so pleased with Mr. Surasak and his skilled, active employees, I would like to mention his office address.
It is located at the Royal Hill Condotel, Tappaya Rd. 486/2 in Jomtien. Tel. 038-252154
Email: [email protected]
One of the hotel security guards of the parking garage shows the way. His spacious office is located above the parking garage. The walking distance from Viewtalay 5 is only 10 minutes.

Yours faithfully,

Jan