Buying A Property In The Wifes Name And Leasing It Back

[Curley]

Many thanks for the feedback, I've bought nothing yet although I have seen one house already built that I like. Does that preclude me getting the house in my name?

[billten]

If you are worried about building a house on land owned by the wife, then build it on land owned by the govt ;-) To do this you can buy timberland (usually its a tax dec purchase for the rights of man over the property). Its usually very cheap (p50 a meter) and then build as cheap a house as you can get away with. That way your investment is at its absolute minimum and if things get ugly you will not be in too deep.BTW, you can apply for stewardship of the land from DENR under an OLP lease, for my 3 hectares in Carcar i pay about P450 a year on my 25 year lease.

[Curley]

Many thanks for the info billten, that's not really what I had in mind, beach front or up a hill with lovely views is what I had in mind. I don't mind spending a few million, just want a nice place to live and to ensure that should the marriage go t*t* up I'll still be able to live in my nice house. I couldn't give a monkeys if an ex wife has the property after I go providing she doean't help me on my way.

[Genius]

This one will run for ever and ever and ever, won't it. I came close to buying a few times but decided on balance I d just rent from the proceeds of property I d keep abroad.

[Curley]

You are right of course Genius BUT who in this world always does the right things? If I could find a house that I wanted to rent then no question that I would rent it. I cannot find what I want so am tempted to buy and take the chance. I'm almost 65 and haven't got that many years left ..... If my girl turned out to be a wrong'un and jacked me in after a few years I'd have fewer years left and would not be broke, I could then rent a nice safe condo or house in sub division and lick my wounds.

[Genius]

Yeah I see your point. Oft time I have done things which I knew had a reasonable chance of me rueing. Horror stories abound but I think that's because good news about relationships that continue are not really as interesting. I ve never seen a tabloid headline along the lines of "Happy, wealthy couple still content together, with no gripes"

[i am bob]

I'm almost 65 and haven't got that many years left ....

Yeah, what would you say? 20? 25? 30 even?

[Curley]

I'm hoping for 20 but not holding my breath :hystery: My Mum died at 65 and 2 months and they say that men should take after their mothers in the longevity stakes! None of my family are long lived. After 85 I imagine my needs will not be that great and if I should be suffering from some horrible illness then euthanasia would be welcome.

[billten]

Many thanks for the info billten, that's not really what I had in mind, beach front or up a hill with lovely views is what I had in mind.

Something like this you mean... Edited February 20, 2012 by Jollygoodfellow
attached image correctly

[Dave Hounddriver]

Its like an addiction. I need a 'fix'. I've been buying and selling property my whole life. Its an 'unfulfilled' feeling not to own the place I live in. I know all the reasons I shouldn't but I need to try. For me its in the financing. How many people actually 'owned' their home when they live in a first world country. (Its rhetorical). Most people finance their homes and so the bank owns them. If they walk away then the bank takes them back. The banks here are too expensive and not too easy to deal with so I have been looking for a vendor who will finance the sale over many years at a low interest rate. They do exist, but not on the prime properties.