The Smart Way to Buy in Thailand: Joint Ownership and Estate Planning

The Real Cost Benefit

With the Aussie dollar under pressure, buying property in Thailand outright can feel out of reach. But through a joint venture purchase (50–50 ownership), the dream suddenly becomes affordable:

• 💰 Entry Cost Halved – A ฿12M condo (~AUD $500k) becomes just AUD $250k each.
• ⚖️ Shared Running Costs – Maintenance, fees, and utilities are divided equally.
• 🌴 Lifestyle Multiplied – Two families, or a group of golf mates, enjoy a holiday home without carrying the full burden.
• 🏡 Income Potential – Rent unused weeks to trusted family and friends, often covering annual costs.

It’s a smart way to secure a slice of Thailand, even in a tough currency climate.
But while the numbers make sense today, it’s equally important to plan for tomorrow. And that’s where estate planning comes in.

Why Estate Planning Matters

A joint ownership works beautifully when everyone is aligned. The challenge comes when one partner passes away. By law in Thailand:

• 📜 The deceased’s share passes to their heir(s).
• 🏛️ The heir must complete probate and register their ownership at the Land Office.
• 💸 Transfer fees apply, and if the condo’s foreign ownership quota is already full, the heir may be forced to sell.

For the surviving co-owner, this could mean suddenly sharing ownership with a family member they don’t know — or who has different plans for the property.

The Role of a Thai Will

One of the simplest and most effective tools is a local Thai will:

• ✅ While an Australian will is valid, it must be translated and formally recognised, which delays probate.
• ✅ A Thai will, prepared by a local lawyer, speeds up the process and ensures clarity.
• ✅ This reduces stress on families and keeps the property transition smooth.

The Solution: Co-Ownership Agreements

To protect both owners, it’s essential to have a Co-Ownership Agreement in place. Key features include:

• 🤝 Right of First Refusal – The surviving partner can buy the other’s share from heirs at market value.
• 📏 Buy-Out Mechanisms – Agreed valuation methods and payment structures.
• 🛑 Forced Sale Options – A clear path for selling the property if co-owners can’t agree.

Together with a Thai will, this creates a complete estate plan for long-term security.

A Smarter Long-Term Strategy

By combining:
1. Joint Ownership – making Thai property affordable today,
2. A Thai Will – simplifying inheritance tomorrow, and
3. Co-Ownership Agreements – ensuring fair exit options,

...you create a structure that delivers both lifestyle and peace of mind.

Key Takeaway

Joint venture ownership makes buying in Thailand possible for more Australians. But it’s only truly smart when paired with long-term estate planning. With the right legal structures in place, you can enjoy your holiday home today and protect it for the future.

Closing Call to Action

If you’re thinking about joint ownership in Thailand — whether with family, friends, or golf mates — let’s structure it right from day one.

👉 Get in touch to explore how we can combine smart ownership with long-term estate planning.