Possible to do an option to buy or sell in a usufruct contract?

When I do a usufruct with a Thai national, not married, can I include the right to sell the property and be the receiver of the proceeds?
Asked 9 years ago
MM

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Buy or sell real estate option in a usufruct contract

There are civil law countries where usufruct could include the right to sell the property and even consume the proceeeds after the sale, but not in Thailand. In Thailand usufruct has limitations (read sections 1417 to 1428). Usufruct is governed by the chapter property in the Civil and Commercial Code (not contracts) and as a property right it has specific rights and obligations. Buy and sell are not part of it.

An option to sell or buy would have to be made with the owner in a separate contract and not in the contract creating the usufruct.

Some time ago we included the following provision in a usufruct contract:

As a special condition parties can agree by mutual consent that the property may be offered for sale. In this case this right of usufruct shall be terminated by the parties prior or simultaneously with the transfer of the property to a third party. The proceeds from the sale of the property shall be used to repay the outstanding loan amount on the loan dated ………… 20__ between the owner and the usufructuary. The remaining amount exceeding the outstanding loan amount shall be divided between the parties equally.
ในฐานะที่เป็นข้อตกลงพิเศษ คู่สัญญาตกลงว่า ภายใต้ความยินยอมร่วมกันเจ้าของอาจจะเสนอขายทรัพย์สินได้ ในกรณีนี้ให้สิทธิเก็บกินนี้เป็นอันสิ้นสุดลงก่อนหรือในเวลาเดียวกับการโอนกรรมสิทธิ์ในทรัพย์สินให้แก่บุคคลที่สาม สำหรับเงินที่ได้จากการขายทรัพย์สินนั้นให้นำไปชำระหนี้กู้ยืมที่ค้างชำระตามสัญญากู้ยืมระหว่างเจ้าของและผู้ทรงสิทธิเก็บกัน ฉบับลงวันที่ ............................ และหากเงินที่ได้จากการขายทรัพย์สินนั้นท่วมจำนวนหนี้เงินกู้ยืมค้างชำระให้นำส่วนที่เกินดังกล่าวแบ่งกันระหว่างเจ้าของและผู้ทรงสิทธิเก็บกินฝ่ายละเท่าๆกันต่อไป

The land office refused to register the usufruct because of this specific clause above. This downloadable usufruct contract contains allowed provisions under Thai property laws.

Answered 9 years ago
Consultant

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