mikejwoodnz Posted July 2, 2012 Posted July 2, 2012 Sounds real good - any prospect of being your neighbor Sure Mike, lotsa land available up near where i am, views of the ocean, breeze most of the time, 28-30 temp due to the elevation. Pretty nice... OK I'm in Manila ATM and coming to Cebu this Thursday for a couple of months - so yes I would like to take a look :cheersty: Link to comment Share on other sites More sharing options...
mikejwoodnz Posted July 2, 2012 Posted July 2, 2012 When you buy land from the holder of a tax declaration are you the owner forever or only for 25 years? And, if its for 25 years then what happens at that time? I see where you are coming from - I'm 66 years and my father is 95 years and still going strong - 66+25=91 :th_unfair: Link to comment Share on other sites More sharing options...
Americano Posted July 2, 2012 Posted July 2, 2012 When you buy land from the holder of a tax declaration are you the owner forever or only for 25 years? And, if its for 25 years then what happens at that time? I see where you are coming from - I'm 66 years and my father is 95 years and still going strong - 66+25=91 :th_unfair: Its possible I could live that long but I'm mostly thinking about my wife. In 25 years she will only be 48. I don't want her kicked out of her home if she doesn't have enough money to purchase the land again. Hopefully we can get the answer to this question before someone finds out the hard way. Link to comment Share on other sites More sharing options...
billten Posted July 2, 2012 Posted July 2, 2012 The answer to your question relates exclusively to the purchase of 'the rights of man' for land zoned as timberland. When you purchase the tax declaration from the previous 'owner' you are purchasing the rights of man for the lot. You may occupy, improve and develop the lot according to the rules laid down by DENR. This arrangement is a classically Philippines type of compromise, basically you are the exclusive 'squatter' on land that is technically owned by the goverment and have all the rights as such, so long as you occupy and improve the lot you are almost impossible to remove on a whim, the only group able to remove you is DENR and then only after long and ugly legal proceedings. The 25 year lease you mention is a further option to you that you can take. It removes the very small possibility that you can be displaced by giving you a lease on the lot from DENR, to get this lease you must apply for the OLP program at DENR and demnstrate what you will be using the lot for over the 25 year period. Most people do not bother with the OLP, i did because of a legal issue i was having, it cost me about 15t all in all and i pay p400 a year for my 3 hectare lot. If i had to do it again i probably wouldn't. I live in a community of about 1,000 souls all who occupy timberland. The land has been in most of their families for generations, getting them off the land would be almost impossible. Trying to remove one person out of the community (while not displacing others) is legally all but impossible also. IMO purchaing the 'rights of man' on timberland is a strategy that has a lot of upside and if the price is right and you are determined to occupy and improve the lot, is as safe an option for land ownership as any other in the Philippines. 1 Link to comment Share on other sites More sharing options...
Adventurer Posted July 2, 2012 Posted July 2, 2012 You know I used to read these threads and always ask about buying a house & land under a wife's name. I even researched prenuptial agreements for my assets back in Australia. I'm glad I never married any of those past girlfriends as I would have probably be living as a beggar now :) I now believe if there is the slightest doubt then walk away, there is a woman there that is the right one. I know with my current fiancee that I have nothing to worry about and even if something changed well I would just give up and never look at a relationship anymore if life is that bad, I'm putting all my eggs in the basket, throwing all my cards on the table to either be a winner or a loser as I know if a sweet innocent angel like this turned bad then life would have little meaning anymore... ;) 1 Link to comment Share on other sites More sharing options...
Steve & Myrlita Posted July 2, 2012 Posted July 2, 2012 You know I used to read these threads and always ask about buying a house & land under a wife's name. I even researched prenuptial agreements for my assets back in Australia. I'm glad I never married any of those past girlfriends as I would have probably be living as a beggar now :) I now believe if there is the slightest doubt then walk away, there is a woman there that is the right one. I know with my current fiancee that I have nothing to worry about and even if something changed well I would just give up and never look at a relationship anymore if life is that bad, I'm putting all my eggs in the basket, throwing all my cards on the table to either be a winner or a loser as I know if a sweet innocent angel like this turned bad then life would have little meaning anymore... ;) I pray all will go well for you as you seek. 1 Link to comment Share on other sites More sharing options...
mkcl8888 Posted September 21, 2012 Posted September 21, 2012 If you are leasing the land you bought, your rights are limited as that of a lessee only and not as a real owner. The legal owner (the one whose is on the title) can still sell or mortgage the property and the bank can foreclosed that property too. Rule of thumb here: Never give out the title and secure a Special Power of Attorney to Sell from the legal owner, aside from your lease contract and deed of assignment. This is what happened to my friend. He put the land title in the name of his "trusted" neighbor. The neighbor tricked him and got the title in their hands, mortgaged it to a financing company and never paid their loans. The land is now foreclosed and my poor friend can't get it back unless he pays the loan and redeem it. 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted September 21, 2012 Posted September 21, 2012 I now believe if there is the slightest doubt then walk away, I can accept that philosophy. I just add that having a child with your significant other changes the rules and still, even then, do not spend more than you can afford to walk away from. Notice I said spend. In some countries I would use the word invest when talking about buying property. Here it is an expense that you are unlikely to ever recoup. 4 Link to comment Share on other sites More sharing options...
brock Posted September 21, 2012 Posted September 21, 2012 I'm putting all my eggs in the basket, throwing all my cards on the table to either be a winner or a loser as I know if a sweet innocent angel like this turned bad then life would have little meaning anymore... ;) Never ever ever put all your eggs in one basket, I too had a sweet innocent girl, Things can and do change, I just wish I had listened to my own advice and it would have saved a lot of heartache, If you have found someone you love, Then go for it,,,,,, But always remember things can change 3 Link to comment Share on other sites More sharing options...
i am bob Posted September 21, 2012 Posted September 21, 2012 I'm glad I never married any of those past girlfriends as I would have probably be living as a beggar now What? Don't want to join the club? Some of us had to go from rags to riches and back to rags again before finding the right woman for us! :mocking: 2 Link to comment Share on other sites More sharing options...
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