What You Should Know About Marital Assets and Debts in Thailand 您應該知道的泰國婚姻財產及債務
When two people decide to get married in Thailand, it is important to understand regulations of marital assets and debts under Thai laws, especially when couple decide to get divorce and did not have a prenuptial agreement prior to marriage. Normally property and debts gain during marriage is marital assets and debts, and it does not matter which spouse holds title of the property or debts. Following is definition of marital assets and debts under Thai laws:
Sin Somros means:
Sin Somros (婚姻財產)是:
Ø Property acquired during marriage;
Ø Property acquired by either spouse during marriage through a will or gift made in writing if it is declared by such will or document or gift to be Sin Somros;
Ø Fruits of Sin Suan Tua;
Sin Suan Tua(非婚姻財產)產生的孳息;
Please refer to our earlier article “Property Division When Having Divorce in Thailand” at https://0rz.tw/F745H for more explanation.
In case there is doubt whether an asset should be considered as marital property, the law provides that it shall be presumed to be marital property. If either spouse disposes marital assets for his or her own benefit or intends to cause damage to the other spouse, the spouse at fault by law should compensate the other spouse by using the at fault spouse’s non-marital assets.
On the other hand, marital debts mean:
Ø Debts incurred for management of household affairs and to provide necessities for the family such as education for the children and medical expenses;
Ø Debts incurred in connection to marital assets;
Ø Debts incurred by business carried by a party;
Ø Debts that a husband or wife incurs for one's own benefit, but the other party has ratified joint responsibility.
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