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Buying Property
Posted: Wed May 06, 2015 7:23 pm
by Duncan
I asked a lawyer this question a long time ago, and never got a answer, so here goes.
Are there any rules, regulation, laws in Cambodia on '' Family Trusts '' ?
How old/young can a person be to have their name listed on the title as the property owner. ?
Can a person[s] under the age of, say 16, be the 51% shareholder[s] in a Cambodian company. ?
Re: Buying Property
Posted: Wed May 06, 2015 9:10 pm
by Lonestar
An American friend of mine bought a property and put the title in his young Khmer son's name. However, when he sold it.....he had to go to court and prove to the court that he was acting in the boy's interest. He got it done, but it is another layer of cost and hassle........and could be a potential pitfall.
Re: Buying Property
Posted: Fri May 08, 2015 1:05 am
by PSD-Kiwi
Interesting question Duncan. As per Lonestars post, I'd imagine there would be a clusterfuck when it came to trying to sell the property if the person's name on the title were still underage.
Re: Buying Property
Posted: Fri May 08, 2015 6:48 am
by Duncan
PSD-Kiwi wrote:Interesting question Duncan. As per Lonestars post, I'd imagine there would be a clusterfuck when it came to trying to sell the property if the person's name on the title were still underage.
The idea was to buy a property and have it '' locked up '' so it could never be sold. In Cambodia it's to easy for family to run out of money or run up gambling debts, then just sell a property.