Marital Debts in Thailand can become complicated. Thai family law holds no discrimination between Thai and foreigner. Most often, couples enter into a prenuptial agreement before entering marriage for the legal arrangement of properties in case of divorce. There are options such as divorce litigation or a divorce agreement. Consider what assets are at stake first with your divorce in Thailand.
Marital Debts in Thailand
For debts, as a general rule, these obligations which are acquired personally will initially be claimed from ones personal property. If it is insufficient, there are rights among creditors to claim from communal properties or joint properties of the spouses. And if both acquired have acquired these debts, their joint properties will be used for debt collection. Always speak to a Thai divorce lawyer for sound advice first.
Marital property in Thailand is called as Sin Somros. The Thai Civil and commercial Code Section 1474 provides that Sin Somros entails:
- – Income and property attained during marriage;
- – Property attained during marriage through a will or as a gift, drafted and declared as such;
- – Product of Sin Suan Tua
Sin Suan Tua is referred to as non-marital properties. All assets owned and acquired before marriage. This also includes Khongman, under Thai law, this is the property given by a man to his fiancée as evidence for marriage to take place.
There is an exception when the couple has gone through a prenuptial agreement, which will be a priority over the law which makes it easier to determine marital properties and how to handle these. In marriage each party not only gives the right to share each gains but as well as losses. Both having equal and joint responsibility for the debts and payables they have acquired during the marriage.
Marital Debts in Thailand includes:
Debts acquired in relation with how the household affairs been managed providing the needs of the family; maintenance for the family; hospitalizations or medical expenses and education of the children.
- – Debts experienced in relation with marital assets.
- – Debts carried out in business by the spouse.
- – Debts from either ones interest or benefit only, but with the other party’s consent.
If by any chance the couple decides to separate or if the marriage ends in divorce, there will be obligations set to each other on marital assets and marital debts. No one can just walk away freely, unless otherwise agreed upon through a prenuptial agreement prior entering marriage. Take proper legal advice from a Thai divorce lawyer during a divorce when it comes to Marital Debts in Thailand.