Buying Land in the Province
- StroppyChops
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Re: Buying Land in the Province
Had pork ribs in the place on the corner across from Murray's tonight - the chopped up variety, not the Flintstones variety - and they were excellent. No more than $5 for the plate.
Bodge: This ain't Kansas, and the neighbours ate Toto!
- Hugh Briss
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Re: Buying Land in the Province
Would you be so kind as to elaborate a bit on this?GMJS-CEO wrote:You can own the land through nominee agreements whereby the 51% owner signs all control over their ownership to you.
Can this be done after a soft title deed is completed and for sake of argument, I am the 49% owner and my Khmer partner is the 51% owner. Is it then just a matter of taking it to a lawyer and drafting this 'nominee agreement to sign control over to me?
Thanks
“JFK was far from perfect, but he was a true wit and a sex machine, and he knew how to wear a pair of shades." Bill Maher
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Re: Buying Land in the Province
Yes.Hugh Briss wrote:Would you be so kind as to elaborate a bit on this?GMJS-CEO wrote:You can own the land through nominee agreements whereby the 51% owner signs all control over their ownership to you.
Can this be done after a soft title deed is completed and for sake of argument, I am the 49% owner and my Khmer partner is the 51% owner. Is it then just a matter of taking it to a lawyer and drafting this 'nominee agreement to sign control over to me?
Thanks
On the original subject, spoke with the family over the weekend and our land our houses are on, about 1/2 ha, cost $300. That means $0.06 per square meter. Soft title.
When it comes to land in the provinces, let a khmer do the negotiating... lol.
- Hugh Briss
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Re: Buying Land in the Province
Thanks OD, so I guess we'll hash out the nominee agreement ownership swap after the original title stuff gets settled.
“JFK was far from perfect, but he was a true wit and a sex machine, and he knew how to wear a pair of shades." Bill Maher
- Hugh Briss
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Re: Buying Land in the Province
Check your PM broham.frank lee bent wrote:I recently spoke to the guys at Sciarroni associates.
You can use a nominee to buy land with a prearranged lease back to you.
Other people advised:
A mortgage can also be issued over the title for further security.
Not very expensive.
“JFK was far from perfect, but he was a true wit and a sex machine, and he knew how to wear a pair of shades." Bill Maher
Re: Buying Land in the Province
best option is ask a lawyer, because you must always et up a contract in khmer, so the only way is to go to a lawyer and tell him what you want. Tan you know for sure it is the right information. A LOT OFF TRAPS.
Re: Buying Land in the Province
This is not my experience. You can form a limited company with a Cambodian citizen, and as a foreigner you can own 49 % of this company (the company must have a minimum of 51 % Cambodian shareholding). This will give you a 49 % ownership to a property bought in the name of the company.OrangeDragon wrote:Yes.Hugh Briss wrote:Would you be so kind as to elaborate a bit on this?GMJS-CEO wrote:You can own the land through nominee agreements whereby the 51% owner signs all control over their ownership to you.
Can this be done after a soft title deed is completed and for sake of argument, I am the 49% owner and my Khmer partner is the 51% owner. Is it then just a matter of taking it to a lawyer and drafting this 'nominee agreement to sign control over to me?
Thanks
The other option is to buy the property in the name of a Cambodian citizen. If this person is your wife and you trust her, good for you. If not, you can enter a long-term rental agreement with the person in question. Or you can transfer the rights of ownership back to you by a personal agreement with the Cambodian citizen. The Cambodian citizen will still have 100 % ownership to the property as far as the Cambodian government is concerned. In both cases you should retain possession of the title deed. Selling the property is impossible without it (at least with hard title).
https://cambodiapropertyfinder.wordpress ... -cambodia/
- frank lee bent
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Re: Buying Land in the Province
yes, and you can further lock it in with a mortgage over the property as well as the lease.
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Re: Buying Land in the Province
Does anybody have any idea regarding current land prices. I gather they have gone up everywhere.
Re: Buying Land in the Province
Prices have gone up.bittermelon wrote: ↑Tue Jan 01, 2019 5:57 am Does anybody have any idea regarding current land prices. I gather they have gone up everywhere.
Some real estate in Cambodia is more expensive than real estate in Australia.
The bubble will burst one day. I dont know when.
Prices vary from place to place. You need to look at each place on its merits. Compare a number of different places.
Many foreigners who have bought real estate in Cambodia have paid more than they should have. If you get a Cambodian to negotiate for you, they normally get a secret commission, so the price may be higher.
I heard of one place where the seller got $7000, the buyer paid $17000, and $10000 was commission. There are laws against this in Australia.
Land in Cambodia is sometimes sold by the lineal meters of frontage. Not by the square meter. But you can convert.
## I thought I knew all the answers, but they changed all the questions. ##
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