Equal Marriage Act How is it conducive to having a home for LGBTQIAN+ couples?
Draft Marriage Equality Act How to enable LGBTQIAN+ couples to own a home. What are the benefits that will be obtained from this Act? Report from สมัคร ufabet
The Marriage Equality Bill is a bill that allows people of the same sex to legally marry. with the right to marry as well as male and female spouses with content that answers more than drafts Marriage Act Both in principle and in practice, however, after the Cabinet and the House of Representatives approved the draft. Equal Marriage Act in Agenda 1 in June 2022. At present, Agenda 2-3 are still awaiting consideration.
In addition to the principles of the Marriage Equality Bill, it will support gender equality in a more concrete way. If the law is enforced in the future will cause changes in Thai society in a variety of contexts including in the real estate market as well DDproperty invites you to keep an eye on the interestingness of the draft. Equal Marriage Act How will the law, once passed, help LGBTQIAN+ couples own shared housing?
1. Opportunity to borrow to buy real estate together
Although some banks now allow LGBTQIAN+ couples to co-loan to buy a home just like heterosexual couples. Or there is already a campaign dedicated to LGBT couples. Open the way for couples of all sexes to register their marriage and have legal status as a spouse. which will be able to apply for a joint loan to buy housing in the name of the spouse and have the right to own the residence together as male-female spouses
2. have the right to jointly manage property or property
The Marriage Equality Act will give LGBTQIAN+ couples the right to legally administer common marital assets, i.e. assets acquired during the marriage, such as salary, bonuses, or assets acquired by either spouse during the marriage. A will or a written testament stating that it is marital property Including property that is the fruit of personal property In case the consumer has bought a house/condominium since he was single, the residence will be considered personal property. If the marriage is registered later and want to add the spouse’s name as joint owner Expenses will be incurred as follows:
- Giving expenses 0.5% of the appraised value
- Withholding tax according to the rules of the Revenue Department The donor is like a seller, so he must pay personal income tax only for the part that is given to the spouse.
- Stamp duty 0.5% of the purchase price but must not be lower than the land appraisal price. Which must possess more than 5 years or have a name in the house registration for more than 1 year. If this criterion is not met will be subject to specific business tax at the rate of 3.3% of the purchase price instead
3. In the case of buying a house or condo
After registration of the marriage, it is consider marital property. If you want to add the name of a spouse who has already registered as the owner of another title. Will pay a fee of about 75 baht or if you want to add your spouse’s name in case you want to change from a single loan to a joint loan The bank will take the income and debt burden of the co-borrowing spouse into consideration again.
4. Right of Inheritance from Spouse
Inheritance Tax Act B.E. 2558 is a tax levied on inheritors with a total net worth of more than 100 million baht. There are 5 types of inheritance taxable assets:
- real estate
- securities under the Securities and Exchange Act
- Deposits or any other money of the same nature in Thailand
- Vehicle with proof of registration
- Increased financial assets by decree
If the inheritor is the duly register spouse of the owner of the inheritance. Spouses will exempt from inheritance tax. Which the Marriage Equality Act will allow LGBTQIAN+ couples to also have this right. Or if one of them is deceas and has not made a will. The surviving LGBTQIAN+ spouse will treat as a statutory heir entitled to the decease spouse’s legal inheritance. Without having to pay inheritance tax as well
BBDO Asia’s “Brand Purpose in Asia” report reveals an interesting view that the majority of Thai consumers are clearly accepting of LGBTQIAN+ issues compared to other countries in the region. Policies that recognize a more diverse workforce. However, society is still waiting for clarity on the issue of legally recognizing gender equality.
Although the marriage equality bill has to wait for consideration on other agendas. But it can consider a social change. That will once again create a significant ripple in Thai society. LGBTQIAN+ couples. Who want to own a home can now learn about the conditions of co-financing to buy housing in various campaigns. Of many banks that have come out to support as well