Vacancy Rate
Re: Vacancy Rate
Hmm . Think thats what happened recently when we did the tax stuff and registration in our house in the sticks. The local authorities added me to whatever doc. House under her name but the authorities added me to it i imagine.PSD-Kiwi wrote: ↑Sun May 19, 2024 3:00 pm
@Jcml19 if you and your wife are legally married in Cambodia, then the title will have your name included on it, if not legally married then will be 100% in your wife's name.
If you buy a condo with a Strata Title, then will be in both your names if legally married, if not legally married then you can have it 100% in your name.
My only question is that since i cant technically own land or a house, what was the point of adding me.. whatever though ... as long as the doc n registration complete.
Need someone to sell me a empty plot around bbk1-3 or ttp under 10k - 5x15m... Comon housing collapse, throw me a bone haha
Re: Vacancy Rate
If legally married then any assets or properties purchased since marriage belong to both parties, properties can not be sold without the authorisation of both parties, that is why both names are included on the property titles. In the event the Cambodian spouse passes away, foreigner has 3 months to transfer the title to another Cambodian Citizen, or sell the property.
-
phuketrichard
- Expatriate
- Posts: 18323
- Joined: Wed May 14, 2014 5:17 pm
- Reputation: 6536
- Location: Atlantis
Re: Vacancy Rate
just curious:PSD-Kiwi wrote: ↑Sun May 19, 2024 5:09 pm If legally married then any assets or properties purchased since marriage belong to both parties, properties can not be sold without the authorisation of both parties, that is why both names are included on the property titles. In the event the Cambodian spouse passes away, foreigner has 3 months to transfer the title to another Cambodian Citizen, or sell the property.
recently a good friends wife passed away and all the lands / houses she held were passed to him.
in Thailand you have 1 year to sell, BUT he was told by the lawyer, they can NOT make you sell the land/house at a lower price than you are asking>
is it the same in Cambodia?
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Re: Vacancy Rate
Thats an awesome fyi. Didnt know prior but it makes more sense now.PSD-Kiwi wrote: ↑Sun May 19, 2024 5:09 pm If legally married then any assets or properties purchased since marriage belong to both parties, properties can not be sold without the authorisation of both parties, that is why both names are included on the property titles. In the event the Cambodian spouse passes away, foreigner has 3 months to transfer the title to another Cambodian Citizen, or sell the property.
Thanks!
Re: Vacancy Rate
Honestly no idea, never known or even heard of any foreigners who's legal Cambodian spouse has passed away and been in the position where they had to sell. I was speaking to a lawyer about the 3 month rule, he said that it isn't really enforced, but it is best to be on the safe side just incase. 3 months is a ridiculously short time frame to try and sell a property here, especially in the current real estate climate. There is the new(ish) trust law, which if a couple has kids would be a good option.phuketrichard wrote: ↑Sun May 19, 2024 5:22 pm
recently a good friends wife passed away and all the lands / houses she held were passed to him.
in Thailand you have 1 year to sell, BUT he was told by the lawyer, they can NOT make you sell the land/house at a lower price than you are asking>
is it the same in Cambodia?
Re: Vacancy Rate
She doesn't take online bookings anymore, she has regular tenants who know the state of the street at the moment (and don't care anyway), and a long term tenant, but for online newbies it might be all a bit too much 'culture'. And then they'll start crying on the reviews. It's just not worth it I suppose.ExPenhMan wrote: ↑Sun May 19, 2024 4:06 pmYikes! Thanks for that. Been playing around with the idea of visiting Phnom Penh and would have booked my favourite hotel spot, Lone Star. Might explain why I could not find a listing for LS on the booking sites due to the carnage. Agree, 23 was such a lovely street, quiet and about as central as you can get. I suppose the wholesale development of a "pub street" area and a previously mentioned new bridge nearby means the riverside area is f**ked for years.Doc67 wrote: ↑Sat May 18, 2024 3:05 pm The biggest problem (of many) in buying a property in a shophouse is trying to predict what the street and the surrounding buildings and businesses will look like in the future. The quiet little street with little traffic can quickly change and you will be stuck with it.
To give an example for those members actually living or familiar with Phnom Penh, I had an apartment on street 23, the street where Lonestar Bar is located. 6 years ago it was a sleepy little street with perhaps 3 or 4 cars on it, a few long-established businesses, it never flooded (got lucky there), it had a large car/bike parking operation at one end opposite the Cyclo hotel, and lots of cool little business' starting up (and mostly failing), but it was all good. It is between 154 and 172 at Norodom, and nobody ever when into the street without good reason, it was never used as a rat-run; a de facto cul-de-sac .
Since the lovely Royal Group decided to build a 50 story building at the south west corner of the street, the whole street has gone downhill very fast.
. . .
Caveat Emptor!
-
- Similar Topics
- Replies
- Views
- Last post
