Buying land

[Snowy79]

You're actually at an advantage by being not married. You can't lease from a married partner anyway under Philippines Laws. As far as the Government are concerned you are leasing the land which thousands of individuals and businesses do. As you've highlighted though the law could change either way and you could gain or lose out. It really is a minefield over here a foreigner. Even lawyers tend to not know all the rules.

I've been researching for years and every time I think I've got a fail safe method I find a Presidential degree hidden away that blows it out of the water. Admittedly some of them are well hidden away in legislature but with an ever increasing use of computer systems it could crop up and bite you in a few years.

[Dave Hounddriver]

43 minutes ago, bigpearl said:

as pointed out earlier in this thread they can be taken to court and be held accountable.

Yes, and if found in the wrong they can be disbarred for a whole year.  Meantime you are out the cost of a house 

[Reboot]

10 hours ago, jpbago said:

Is that you in the post picture?

Not much hair of that's what you mean. 

[Snowy79]

Yet another close escape thanks to my due diligence. Thanks to the issues of buying a lot, setting up a corporation etc I looked to securing an established condo. I spend the night in it and spoke to a few locals and also the CEO of the corporation. My first alarm bell rang when he told me he was selling one of his condos also and it was a great rental property. He even showed my how many times a year it was rented. 

He also  went on about other developments nearby that never had the rights to the land as his did and that the other shareholders were the ex governor and other senior lawyers from Manila. He told me he loved living where he was and had tried Manila but it drove him crazy. I asked what would happen if his corporation was bought out and he told me there's next to no chance of that unless he was offered silly money.

I'd been offered the condo by different agents so tried a double bluff on one. I met him to see another property and slipped in that I had a lucky escape with the condo that I was interested in as there was disputes. He then opened up and told me about some dodgy issues over the land etc.

I then want back to the CEO and told him one of my friends on the island had warned me off about disputes and he denied it but I could tell by his eyes he was found out. I then asked why he's selling such a good rental property if it's making him lots of money and he started back peddling. 

I then contacted another agent who I'm happy to do deals with and explained that the seller was not just messing me around but also agents as they don't get paid until the property sells. I told him that all properties I view I'll be checking with the LRA, HLURB, DENR and also the jungle drums. He then opened up more and warned me under no circumstances to touch any of the condos in the site.

I'm now back to stage one but I've still got my money in the bank luckily. 

[Snowy79]

As an add on to the above I've since found the whole complex common areas and corporation advertised for sale on a couple of web sites. I pretended to be a buyer and was informed the owner was selling up as he wanted to move to Manila, so much for him hating Manila. He's an Ex Pat as well so as I'm sure most are aware there's enemies among us. The bottom line is I get the feeling the family he's in dispute with are going to make him an offer he can't refuse. Probably at the end of a barrel and he was happy to pass the trouble on.

[Jack Peterson]

1 hour ago, Snowy79 said:

Probably at the end of a barrel and he was happy to pass the trouble on.

Such is Life sometimes

[bigpearl]

Well we did it, here comes the bus, lol.

Purchased a beachfront property in Bacnotan after 3 years of searching, sign contract and lease today, sticking a tenant in the house for a couple of years until we make the move. We are both very comfortable with the arrangements and yes time reveals all.

Welcome to the Philippines.

Cheers, Steve. 

[Dave Hounddriver]

10 minutes ago, bigpearl said:

 time reveals all.

What it generally reveals is that history repeats so look to see what has happened when others have done the same thing and let us know if that happens to you in 3 years :-)  And . .   good luck.

[bigpearl]

3 minutes ago, Dave Hounddriver said:

What it generally reveals is that history repeats so look to see what has happened when others have done the same thing and let us know if that happens to you in 3 years :-)  And . .   good luck.

It's not a problem really, my investment is small comparatively. If living in Ph and the Fit hits the shan I walk away in a much better position than in Oz. After 6 years together I am comfortable with our relationship and the trust we share. 

As for history with regards to who looses out? Absolutely no different in any civilised country, as said in another post I lost over 1.5M Aussie dollars to the lady I expected to spend the rest of my life with after 22 years, 20 of those years she didn't work, raised our children, spent money etc. so in effect she was fed and housed, nice house and cars brought, what she wanted, and after separation/divorce was paid AU 75K per year for her services, believe it, she still cries poor!

If it happens again here it won't be insurmountable. Easy peasy etc financially, only the hole in the heart to deal with. Thanks for your good wishes.

Cheers, Steve.

[scott h]

Here is my take on an expat buying land while not being married lady is a citizen and putting the property in her name.

It is like playing craps. You pick your number, put your money on it and hope it hits before 7 shows up. But always remember the odds are always with the house.

And here in the Philippines, we expats are not the house.