nominee structure apartment purchase

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kausmo
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Re: nominee structure apartment purchase

Post by kausmo » Mon Aug 13, 2018 12:56 pm

One real estate agent mentioned the Canatrust option. I'm getting info on it soon. It seems to be a nominee structure but held by Canadia bank, not the actual property owner (s). Perhaps more secure? Although I can see how they just want to create another financial mechanism to take your dough...lol There is a fee and a property management option too I guess.
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Re: nominee structure apartment purchase

Post by kausmo » Mon Aug 13, 2018 1:00 pm

This is not a ground floor into nor is it in a strata titled property.
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PSD-Kiwi
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Re: nominee structure apartment purchase

Post by PSD-Kiwi » Mon Aug 13, 2018 1:10 pm

kausmo wrote:
Mon Aug 13, 2018 1:00 pm
This is not a ground floor into nor is it in a strata titled property.
Be aware then that you cannot obtain a Hard-title for it, as Hard-titles are only issued for land, not structures. In the past dodgy hard-titles were issued for apartments, or soft-titles were issued in Foreigners names, but there has been a massive crack down in the past couple years on these practises. Whoever owns the ground floor, owns the land, and is the only person entitled to hard-title. Apartments above ground-level are issued soft-title only (and only in Cambodian Citizens name).

I do recall reading something a while back regarding the Canadia Bank and property purchases for foreigners. I'm sure you will, but just make sure you conduct thorough due-dilligence and do seek professional advice...and good luck.
Last edited by PSD-Kiwi on Mon Aug 13, 2018 1:19 pm, edited 2 times in total.
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Re: nominee structure apartment purchase

Post by PSD-Kiwi » Mon Aug 13, 2018 1:12 pm

offroadscholar wrote:
Mon Aug 13, 2018 12:36 pm
The new condo buildings can have Strata Titles that foreigners can have in their own name
Yep, eligible condos = Strata-title, the OP has confirmed it is not a condo he is enquiring about.
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Duncan
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Re: nominee structure apartment purchase

Post by Duncan » Mon Aug 13, 2018 2:12 pm

PSD-Kiwi wrote:
Mon Aug 13, 2018 1:10 pm
kausmo wrote:
Mon Aug 13, 2018 1:00 pm
This is not a ground floor into nor is it in a strata titled property.
Be aware then that you cannot obtain a Hard-title for it, as Hard-titles are only issued for land, not structures. In the past dodgy hard-titles were issued for apartments, or soft-titles were issued in Foreigners names, but there has been a massive crack down in the past couple years on these practises. Whoever owns the ground floor, owns the land, and is the only person entitled to hard-title. Apartments above ground-level are issued soft-title only (and only in Cambodian Citizens name).

I do recall reading something a while back regarding the Canadia Bank and property purchases for foreigners. I'm sure you will, but just make sure you conduct thorough due-dilligence and do seek professional advice...and good luck.


as Hard-titles are only issued for land, not structures.


I think you should clarify that.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Re: nominee structure apartment purchase

Post by PSD-Kiwi » Mon Aug 13, 2018 2:20 pm

@ Duncan...what do you want clarified...I thought that was pretty clear.
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Re: nominee structure apartment purchase

Post by Duncan » Mon Aug 13, 2018 2:29 pm

PSD-Kiwi wrote:
Mon Aug 13, 2018 2:20 pm
@ Duncan...what do you want clarified...I thought that was pretty clear.
Well I know for a fact that hard titles are or have been issued for apartments above ground level, E1 , E2 or more, as I have seen / bought / and owned them.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Re: nominee structure apartment purchase

Post by Jack.R. » Mon Aug 13, 2018 3:24 pm

Just as side note,
New condominium constructions often allows foreign ownership of ground floor retail units.
This is because the first underground floor is usually registered as the ground floor which you can see barely peaking out of the floor with some narrow Windows on several new buildings on diamond island.
This makes the ground floor retail units legally first floor units thus elegible for strata titles.
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Re: nominee structure apartment purchase

Post by Jack.R. » Mon Aug 13, 2018 3:37 pm

Duncan wrote:
Mon Aug 13, 2018 2:29 pm
PSD-Kiwi wrote:
Mon Aug 13, 2018 2:20 pm
@ Duncan...what do you want clarified...I thought that was pretty clear.
Well I know for a fact that hard titles are or have been issued for apartments above ground level, E1 , E2 or more, as I have seen / bought / and owned them.
New apartments get strata titles, old ones soft titles at commune level (just a common paper with fingerprints and a few stamps) or sangkat level (which now looks somewhat similar to an hard title as it is made on hard official looking paper ) .
Hard titles are issued for land, some people might have had hard titles issued for apartment units in the past but I think it's very uncommon and nowadays impossible.
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Re: nominee structure apartment purchase

Post by PSD-Kiwi » Mon Aug 13, 2018 4:58 pm

Duncan wrote:
Mon Aug 13, 2018 2:29 pm
PSD-Kiwi wrote:
Mon Aug 13, 2018 2:20 pm
@ Duncan...what do you want clarified...I thought that was pretty clear.
Well I know for a fact that hard titles are or have been issued for apartments above ground level, E1 , E2 or more, as I have seen / bought / and owned them.
Yes, as I mentioned, in the past they used to...I have also bought apartments with Hard-Title...however the MLMUPC has been cracking down on this practice, as I also mentioned. By law, hard-titles only apply to the land...not the structure.
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