How would you safeguard your property in the event of a split with your other half.

[Snowy79]

3 hours ago, Dave Hounddriver said:

You may want to consult a lawyer. In the one case I know of, (speaking only of the Philippines), where someone tried that and the marriage went sour, the child was a minor when the parents split and the judge said the mother is the legal guardian of the minor child and could do whatever she decided was is in the best interest of the child, up to and including selling the house to provide cash for the "child's needs".  Once again, foreigner 

You're correct in that the Mother still holds the power until the child is of legal age and mental ability.

[i am bob]

I'm not sure as I'm not considering it...  But doesn't the SSRVP (or whatever it's called) give you the right to own?  

I know if you lease the land long term, you can stipulate a buy-out option at the end for your children of Filipino blood...  The house you build on the lease land itself will be in your name only if you so desire and the gf can't touch it...  

[Dave Hounddriver]

4 hours ago, i am bob said:

doesn't the SSRVP (or whatever it's called) give you the right to own?

Not unless you can give us a source to show it.  One of the qualifications of certain retirement visa is to own property, but they mean a condo.

[Gary D]

4 hours ago, i am bob said:

I'm not sure as I'm not considering it...  But doesn't the SSRVP (or whatever it's called) give you the right to own?  

I know if you lease the land long term, you can stipulate a buy-out option at the end for your children of Filipino blood...  The house you build on the lease land itself will be in your name only if you so desire and the gf can't touch it...  

No the only visa is called citizenship. Yes you can own the building under certain curcumstances and if you split up you can take it with you when you leave.

[sonjack2847]

On 2/7/2019 at 8:59 AM, Dave Hounddriver said:

You may want to consult a lawyer. In the one case I know of, (speaking only of the Philippines), where someone tried that and the marriage went sour, the child was a minor when the parents split and the judge said the mother is the legal guardian of the minor child and could do whatever she decided was is in the best interest of the child, up to and including selling the house to provide cash for the "child's needs".  Once again, foreigner out on the street.
 

Disclaimer, this is only one case and we always here the ones where the foreigner got screwed over.  Your way probably worked many times with no problems.

Maybe I need to explore other avenues as well, thanks Dave.

[JJReyes]

The ability to go around Philippine law is limited to the time period when the relationship is cordial. If the separation is bitterly contested, good luck in trying to get some of your investment back. The rules will favor the one who is a Philippine citizen. Besides, all the spouse has to do is keep the dispute locked up in court where the decision making is very, very slow. You lose because of the time factor. Legal ownership including inheritance rights transfers to other citizens (family members). I have heard some success in "lifetime tenancy" that allows you rights to residency in a home while you are still alive. Make sure a lawyer writes the contractual agreement and the spouse signs it in the presence of her lawyer. Investment properties are another matter.

[sonjack2847]

3 hours ago, JJReyes said:

The ability to go around Philippine law is limited to the time period when the relationship is cordial. If the separation is bitterly contested, good luck in trying to get some of your investment back. The rules will favor the one who is a Philippine citizen. Besides, all the spouse has to do is keep the dispute locked up in court where the decision making is very, very slow. You lose because of the time factor. Legal ownership including inheritance rights transfers to other citizens (family members). I have heard some success in "lifetime tenancy" that allows you rights to residency in a home while you are still alive. Make sure a lawyer writes the contractual agreement and the spouse signs it in the presence of her lawyer. Investment properties are another matter.

I know I won`t get any investment back I just don`t want to be homeless when I am older. Maybe I should buy a condo.

[JJReyes]

2 hours ago, sonjack2847 said:

I know I won`t get any investment back I just don`t want to be homeless when I am older. Maybe I should buy a condo.

Good investment strategy.  The 40% foreign ownership rule works in your favor because you hold title to a condo property.  Anyone know if the Philippines offers "reverse mortgage?" if you run out of money and the condo is the one remaining major asset?

[manofthecoldland]

2 hours ago, sonjack2847 said:

I know I won`t get any investment back I just don`t want to be homeless when I am older. Maybe I should buy a condo.

The concept and values of house and property 'ownership' are deeply embedded now in many Western countries. It wasn't such a widespread norm in places of very high land value and land shortage. Even so, people prefer to own over renting because it gives you a sense of security and lets you have greater control of the home you live in. It works well in countries that have a strong rule of law, protected individual property rights and the ability to buy and sell at will and fairly easily in the event you wish to convert your home investment back into usable wealth. 

   As you know, the PI operates on a different set of principles that doesn't provide the same level of security and marketability that Westerners are used to in their home countries.  For that reason, many ex-pats would rather rent here than put their life earnings at risk.  The economics of renting vs. ownership situation is very, very different here.  For many men of limited wealth, now living on limited pensions with little chance or desire to return to the work force it does not seem wise to risk your future financial well-being on ownership unless you can sustain a huge loss in the event that your relationship changes at some point. Many ex-pats are living with the Sword of Damocles dangling over their heads supported more by faith and hope in the continued love and loyalty of their spouse and her vested kin than in other countries.  Nothing wrong with that, but your options that come with ownership are quite different here in the event of the need to reclaim your investment.  I built and 'own', but rented for 7 years quite happily. I have greater comfort, but the costs are still higher than when I rented, and I doubt I will ever see my investment money ever again. I rented some very nice places for very little and was quite content with that, but my Filipina prefers ownership. No great surprise considering her viewpoint and advantages of such. I just live with the fact that I could lose it all like many fellows I know here did. Fortunately, I could take the hit since I have sole control of my pensions and my wife has no other source of income. So in our situation, we have a Mutually Assured Destruction scenario in the event of going to war with each other.  We do have a solid life, relationship and future together, but if that is not the case for anyone, you can get incredible value for the renting lifestyle here in the PI as opposed to most Western economies.    

[i am bob]

Do the mortgage.  Put it in your wife's name.  Even on a 13a your income is considered as your wife's income for her to qualify for the mortgage.  She kicks you out?  You aren't responsible for further payments - she is.   And her income level just dropped. I know s guy who did this and he's very happy now...  Hehe!