How To Own Real Estate Property In Rp

[hyaku]

I have never heard of an irrevocable power of attorney for anyone who is mentally competent.

I don't know how it would work in the Philippines but elsewhere powers of attorney expire on the death of the person granting the power of attorney, it certainly expires on death of the person granting the POA in the US.

Not just arguing for arguments sake, I hope both that you are correct and that it is never tested.

Lol, well she was mentally competant enough to take a cash settlement and sign away. I know its not everybodies cup of tea but the relationship turned out to be questionable and untrustworthy. If its tested I get my money back!

As Dave mentioned it I should say this was all done prenup. Would not fancy anyone's chances if it was community property.

I already researched the deceased aspect as well. Wills here are complicated, require a court appearance and publishing ones intention. A deed of donation mortice causa is just as effective.

I have already done what I'm legally allowed to do and now transferring all to another national.

There is one more guy in town who has done a similar thing. Difference is he locked up his ex and boyfriend for adultery. She signed so she would not do five behind bars.

Edited July 18, 2014 by hyaku

[Steve & Myrlita]

There is one more guy in town who has done a similar thing. Difference is he locked up his ex and boyfriend for adultery. She signed so she would not do five behind bars.

I thought it was 7. :th_unfair:

[hyaku]

Used to be. I'm told it has been reduced. Maybe they can't cope with so many?

[happypig2000]

i built and sold houses in cebu, always in the wifes name, very easy to do. got to make a good contact in city hall which is not too hard, just hang out in the building dept and meet the workers, got real friendly with a guy called Lito in cebu, he was great, had to keep pushing him, but we got everything done, designed and built a small place  for P700,000  and flipped it for P1,700,000. It was relatively easy, long as you follow all the local laws etc....have a good att you like and trust

[Alby]

One thing I'd say is, if you put money in a country that runs without laws (or haphazard laws) then be prepared to lost it!

If owning a land by a foreigner is legal then why would the Filipino government discuss making it legal as they are doing now?

Plus, what if things change?

Best approach is, don't !

Sent from my iPhone using Tapatalk

[scott h]

There was a web sight or blog about 3 years ago about a expat that really built a nice place and basically got hounded from the country and was in exiled somewhere else in Southeast Asia. Trying to plead his case via the internet, it was a real sob story. Naturally he did nothing wrong and it was all about corrupt officials etc. Have not heard a thing about it since I have moved here.

[Thomas]

Sorry, Thomas, but your Filipino wife can own land. If she passes away before you, you can inherit the land BUT, as a foreigner and not being able to own land, you are caught in a catch 22 and thus you will be forced to sell the land. Most people avoid this by having a Filipino dependent (like a child) inherit the land and then leased back to you for 25 or 50 years for something like a couple pesos.

Yes. Back when I wrote that post, I didn't know if the "Anti-Dummy law" for business had a similar for land, but sinve I while I know the wife can have land.

 

But there are solutions for that catch 22. The foreigner have some time to sell that inheritated land. We can sell to someone who agree to the condition we can lease it long time, so we can have access and controll of the land anyway.

 

Personally my approach was I wanted some control over what I had bought. Also reading about so many "failed" relationships even before I moved here I didn't want to end up on the street after some wild false accusations.

First of all I got a lease on what I had bought. This 'must' be registered at the Register of Deeds otherwise it's not worth the paper its written on. Your partner could otherwise sell or mortgage the house you live in.

My second step was as I can't legally own I can still be attorney-in-fact. My attorney drew up an absolute irrevocable power of attorney allowing me to dispose of or do whatever I saw fit with what I had purchased. Needless to say one delegate another Filipino/Filipina to sell for you.

I'm not saying it would work for everyone. Thing is ownership in this case is not in question.

Well. I don't know which solution that lawyer used,

BUT I know concerning business it's common lawyers use a DUMMY solution, which is AGAINST the meaning of the law and I have big doubts it would manage to be checked proper in a court case...  

 

BUT in some topic I wrote rather detailed a solution, which I haven't checked with any lawyer, but I did read the laws rather proper before I made the solution idea. So I'm rather sure my idea is corect concerning TITLED land,

but some doubts concerning not titled land because land need to be titled to be allowed PROPER to collateral in a loan.

(My solution idea is a COMBINATION of

long time lease,

loan to the land owner with the land as collateral

and an option to buy the land for a fixed price to anyone the FOREIGNER decide.

Without the option, the land owner can stop the loan deal, pay it and get all profit himself by selling the land when the value goes up, although it was the foreigner who financed all. 

But without the option the foreigner can stay there anyway, because lease deals follow the LAND even if it's sold - if the owners don't scare you to leave...   So better make a deal where the land owner get some EVERY YEAR.)

 

 

I hope both that you are correct and that it is never tested.

 

Hyaku's experience has already been tested.  He is separated from his legal, filipina wife and I know that (so far) his claim to his house has been upheld.  As he mentions, this may not work for everyone and he is not claiming ownership of the land.  Also, as another thread discusses, the more money a filipina is able to throw into a court case the more chance this may not work.

The real important is geting the HOUSE.

Geting the land is NOT so important as long as the house owner has a long time lease of the land.

 

(Actualy one alternative I think of is GIVING my future wife land as a "marriage gift"  *    but having house and land lease in my name (or in the name of a SWEDISH company I have control of).

 

* So she get something too, when I want her to sign some documents protecting me from scams from her/her family. I don't expect she will try, because if I would, I wouldn't marry her   :)  but why take unnecesary risks?   I will TELL her I want it because many foreigners are scamed and I don't want to be suspicious DURING our marriage,  And I can blame part of her family   :)   because she find two of them rather bad herself.  Such documents can be GOOD for my WIFE too, because they can be used to reduce the pressure at my wife if the bad ones of the family members try to influence her against me...   :mocking:     (The majority of the family is good, but they are some scared of the two bad ones.)

[Thomas]

I already researched the deceased aspect as well. Wills here are complicated, require a court appearance and publishing ones intention. A deed of donation mortice causa is just as effective.

As a gift to the wife/family when you die?

If so - just make sure the wife and her family KNOW you are worth more for them alive than dead   - or at least NOT tell them they will get much when you die   :mocking:      

[jpbago]

A deed of donation mortice causa is just as effective.

 

The deed of donation has a tax something like an estate tax ranging from 4% to 20%. Another way to transfer property after a death is by an extrajudicial settlement.

 

http://www.manilatimes.net/heirs-should-opt-for-extrajudicial-settlement-of-estate-to-dispense-with-formal-court-proceeding/80751/

[robert k]

Stop trying to scare him. I think he should buy more property and double down, what could go wrong? :thumbsup: