Minimum (khmer) age of Cambodian property ownership
Minimum (khmer) age of Cambodian property ownership
Anyone know what this is from direct experience?
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I don’t know but I’d imagine it’s when they get their ID card. 16 or is it 18?
Certainly not a child.
Certainly not a child.
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I guess the question is why a guy with a Cambodian wife and children would want to put the property in the child's name. Probably so if the wife dies first her family doesn't grab the land.
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Interesting question, I've thought about this before. I'm not suggesting it's the same situation but ideally I'd like to buy land in my son's name while there's no way I'd ever trust his mother to do it in her name.
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If it's in the child's name couldn't the child's mother just sign the land (or gazebo) over to herself anyway?Lucky Lucan wrote:Interesting question, I've thought about this before. I'm not suggesting it's the same situation but ideally I'd like to buy land in my son's name while there's no way I'd ever trust his mother to do it in her name.
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There is another concern here. Let's say you're a fat, unhealthy, hard drinking older expat who expects to die at age 57.
If property is in your younger wife's name, what if she remarries, and maybe she marries a guy who has children from a prior relationship. Then she dies before he does.
He gets the land, he leaves it to his kids when he dies, and your kids get fuck all.
If property is in your younger wife's name, what if she remarries, and maybe she marries a guy who has children from a prior relationship. Then she dies before he does.
He gets the land, he leaves it to his kids when he dies, and your kids get fuck all.
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18 is the minimum age for property ownership in Cambodia.
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
National IDs are issued at 16. Property ownership 18.YaTingPom wrote:I don’t know but I’d imagine it’s when they get their ID card. 16 or is it 18?
Certainly not a child.
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
This is worth noting if you're married to a Cambodian and have children under 18, just in case your wife/husband dies before You...
“If a foreigner inherits a property, and that property doesn’t have a strata title – or is not being held through a company with a Cambodian majority shareholder – he or she cannot assume ownership of the estate. In this situation, the law dictates that the estate becomes a legal entity, which the foreigner must sell within three months. The profits are then distributed among the heirs (including foreigners) and the entity is dissolved.
If the estate cannot be sold within three months, it must be handed over to the next inheritor in line holding Cambodian citizenship.”
https://www.b2b-cambodia.com/articles/g ... -cambodia/
I'm not sure whether it's possible to set up a trust in Cambodia? If it is possible, put the property into the trust and make the kids the trustees?
“If a foreigner inherits a property, and that property doesn’t have a strata title – or is not being held through a company with a Cambodian majority shareholder – he or she cannot assume ownership of the estate. In this situation, the law dictates that the estate becomes a legal entity, which the foreigner must sell within three months. The profits are then distributed among the heirs (including foreigners) and the entity is dissolved.
If the estate cannot be sold within three months, it must be handed over to the next inheritor in line holding Cambodian citizenship.”
https://www.b2b-cambodia.com/articles/g ... -cambodia/
I'm not sure whether it's possible to set up a trust in Cambodia? If it is possible, put the property into the trust and make the kids the trustees?
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
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I get its Cambodia and law vs reality are often 2 very different things. But doesn't Cambodia follow a lot of other countries when it comes to basic estate laws, or no? Since foreign husband presumably cannot own land, when Khmer Wife dies, wouldn't her assets default to her children in a case of no will?gavinmac wrote:I guess the question is why a guy with a Cambodian wife and children would want to put the property in the child's name. Probably so if the wife dies first her family doesn't grab the land.
Anyone who doesn't like Capitalism is a pathetic loser. God bless the USA and no place else.
Yes.DetroitMuscle wrote:I get its Cambodia and law vs reality are often 2 very different things. But doesn't Cambodia follow a lot of other countries when it comes to basic estate laws, or no? Since foreign husband presumably cannot own land, when Khmer Wife dies, wouldn't her assets default to her children in a case of no will?gavinmac wrote:I guess the question is why a guy with a Cambodian wife and children would want to put the property in the child's name. Probably so if the wife dies first her family doesn't grab the land.
But if the children are underage, they can not own the property, some someone else will watch it for them. That's where the trouble might start.
Ok u can stop right there.PSD_Kiwi wrote:This is worth noting if you're married to a Cambodian and have children under 18, just in case your wife/husband dies before You...
“If a foreigner inherits a property........."
A khmer is never going to leave a property to a foreigner so this article is useless !!!!!!!!!!!
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Well, If legally married in Cambodia, then the foreigner inherits all of their wifes/husbands assets when they die...but as mentioned, property needs to be sold or passed on to the next inheritor in line within 3 mths if the property falls under the "cannot be owned by a foreigner" category, unfortunately if the next inheritor in line is under 18, then you're fucked basically.
I am interested in finding out whether it's possible to set up a trust and put property into the trust...anyone know???
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
I know one UK guy here who had significant assets in his KHR wife's name when she died. No kids.
From memory he came to an arrangement with the family who he had supported for many many years amicably whereby they got some and i think he did too and he remarried eventually.
From memory he came to an arrangement with the family who he had supported for many many years amicably whereby they got some and i think he did too and he remarried eventually.
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