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Is this common?

Land behind the family property sold to a Chinese developer for possibly a factory. Village wants to build or expand a road and may use eminent domain to take it. Missus wants to redo the hard title to make sure that land isn’t being ripped off than already is.

Problem is older sister has already put out s 5 year bank loan on the hard title. According to older sister, Bank says cannot pay off loan for at least 2 years, even if interest is included in the payment.

Is this normal Cambodian Bank practice? Or is there something else that isn’t being mentioned?

newkidontheblock wrote: ↑Tue Jan 01, 2019 9:11 pm Problem is older sister has already put out s 5 year bank loan on the hard title. According to older sister, Bank says cannot pay off loan for at least 2 years, even if interest is included in the payment.

Is this normal Cambodian Bank practice? Or is there something else that isn’t being mentioned?

Haha, "according to older sister", good one.
You're screwed. 10 to 1 older sister has either sold the land already or intends to shortly.

Doubtful.

Older sister has her house, the family house with air con bunker, her kids, her younger sisters kids, and youngest sister all living on that land.

welcome to Khmer banking and loan black hole..
try asking your Khmer lady about the terms or any meaningful data....get a silent period ...until you give up..
ask for a payment booklet...
ask about interest rate...
ask a simple...when is the fucking loan paid off?
when you ask a Khmer.. even a loved one...a loan question ...be prepared to be lied to....
beware of sinking your dough into the black hole..

logos wrote: ↑Tue Jan 01, 2019 10:08 pm

newkidontheblock wrote: ↑Tue Jan 01, 2019 9:11 pm Problem is older sister has already put out s 5 year bank loan on the hard title. According to older sister, Bank says cannot pay off loan for at least 2 years, even if interest is included in the payment.

Is this normal Cambodian Bank practice? Or is there something else that isn’t being mentioned?

Haha, "according to older sister", good one.
You're screwed. 10 to 1 older sister has either sold the land already or intends to shortly.

I am with Logos that something fishy is going on and that is the reason for the story. As for an appointment with the bank to sort it out and likely the SIL will find reasons to refuse further deepening suspicion.

It may be that she sub divided the land and sold off some but not all

Go to the Ministry of Land Management and tell then the Hard title was lost in a flood and you want to see the original on their register to see who is on it.

suspicious alright

logos wrote: ↑Tue Jan 01, 2019 10:08 pm

newkidontheblock wrote: ↑Tue Jan 01, 2019 9:11 pm Problem is older sister has already put out s 5 year bank loan on the hard title. According to older sister, Bank says cannot pay off loan for at least 2 years, even if interest is included in the payment.

Is this normal Cambodian Bank practice? Or is there something else that isn’t being mentioned?

Haha, "according to older sister", good one.
You're screwed. 10 to 1 older sister has either sold the land already or intends to shortly.

I agree, financial agreements within Khmer families are far from clear, and not even always shared among all the the family members involved, so I would certainly not expect them to share it with me.
I keep myself far from this sort of stuff. Khmer have done it their way for ages, and I just try to have it done my way in my house. That's difficult enough sometimes.

newkidontheblock wrote: ↑Tue Jan 01, 2019 9:11 pm Is this common?

Land behind the family property sold to a Chinese developer for possibly a factory. Village wants to build or expand a road and may use eminent domain to take it. Missus wants to redo the hard title to make sure that land isn’t being ripped off than already is.

Problem is older sister has already put out s 5 year bank loan on the hard title. According to older sister, Bank says cannot pay off loan for at least 2 years, even if interest is included in the payment.

Is this normal Cambodian Bank practice? Or is there something else that isn’t being mentioned?

The older sister presumably borrowed the money because she needed money. She was cash poor.

Now your wife is asking her to repay that loan early? How?

If you tell a family member "I need you repay what you borrowed on the house" and the person says "Oh I can't do that now the bank won't take the money" then the logical conclusion is that the borrower cannot or does not want to repay the loan now.

Also, who owns the land anyway? The wife, the older sister, the parents in law, etc. ? If the parents own it, how did the sister borrow on that?

Or are Cambodian properties just vaguely owned by a "family" such that one sister can be borrowing on it while another sister is trying to secure the hard title?

Sounds very fishy. Which bank/MFI? I'll dig into the banking code later, but it sounds like nonsense.