Lending money to family or friends

[DeputyDavid]

I KNOW, just don?t do it. But I did. Five years ago with a contract and a PROMISE that when the Chanote is obtained from the bank I will hold it until the loan is paid back.

Well, what could go wrong there?  I?ll tell you, lies and deceit. Heck of a long story but the end of the story is why I post this.

We had a contract, ended up in court because the lying c@nt sold the land and didn?t pay the loan, got a judgement which wasn?t paid and thought well that?s that.

Then we discovered another piece of land that was never mentioned that has Chanote which belongs to the person that signed the contract. This land has a house which was built and lived in by another family member. (Similar to what a lot of expats do so this is why I post this) With a little work we were able to get a copy of this Chanote and turned it over to the execution office to recover the land to repay the debt. Letters were sent to all concerned explaining the Chanote needed to be turned over to the execution office by a certain date or the Chanote will be voided and the court will request a new Chanote from the land office, and on that date the land will be subject to sale by auction. There are certain other legal ramifications for the person hiding the original Chanote but the police are already investigating this.

So...NOW that the date in question has passed and the land office has been notified by the court, it is possible that I may have heard that they are trying to get a loan from someone on this house and land which really no longer belongs to them because the court notified the land office that it will be auctioned.

Bottom line is this, if you want to lend money on a Chanote there is a proper way to do it and that involves the land office. I hate to think someone would lend the money on this worthless paper.

I?m just briefly describing my experience and in no way offering any type of legal advice. Just be careful.

[Prakhonchai Nick]

When there is a substantial loan. guaranteed with a chanote, as Deputy Dave says, go to the land office and have the loan recorded on the chanote -just as banks do when granting a mortgage. Then keep the chanote ypurself until the loan is repaid or called in.

It is a sad state of affairs when one cannot trust family members or people you thought were real friends. . Loans to family members, especially when a farang is involved, are invariably looked upon as gifts.