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if i buy a land for name of my girlfriend and then i do leasing

Last activity 08 June 2022 by coach53

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Sebastien Filliat

@Wellsfry It have another solution, it's to come whit a business visa, open a business whit the help of attorney, then your company will buy the land and house, so no problem at all, no risk to see, one day, your gf and his family put your stuff outside and ask you to leave, another thing, be careful whit the deed of usufruct, if you put the name of your gf on it, it's mean you cannot sell the property, until she agree to leave.

PhilRes
"Then as a foreigner... I can OWN a home (residence only... not business property)... with the title in my name."

Nope, you can't. 

Own improvements (house) but not land - need to lease land.  That is why SSRV holders can put their money into property ownership (i.e. Condos) OR longterm leases.

UNLESS effectively strata title where land ownership is apportioned among all owners (think "condos") so up to 40% can be foreign "owned."  That where some units being sold can be owned by foreigners, others can't.

If you end up with YOUR NAME on the Deed, if even deeded land - or changing name on a Tax declaration (huge amount of property "owned" this way), it flat illegal.  I never looked into the idea of whether you can even doo any kind of long term "lease" tax declaration property.

AND be very very careful that nobody left OUT of the transaction on the "seller" side as heirs can come back and void the whole thing - there IN NO TITLE INSURANCE operation here, whereby title insurance company handles the transaction and give you a policy if ownership ever challenged.  Experiences here in Philippines explain WHY "Title Insurance" Companies exist in developed world...

Anyway I think somebody here had it right...don't put in more than you willing to lose then so be it.
Lotus Eater

.

onefogarty
"Then as a foreigner... I can OWN a home (residence only... not business property)... with the title in my name."

Nope, you can't. 

Own improvements (house) but not land - need to lease land.  That is why SSRV holders can put their money into property ownership (i.e. Condos) OR longterm leases.

UNLESS effectively strata title where land ownership is apportioned among all owners (think "condos") so up to 40% can be foreign "owned."  That where some units being sold can be owned by foreigners, others can't.

If you end up with YOUR NAME on the Deed, if even deeded land - or changing name on a Tax declaration (huge amount of property "owned" this way), it flat illegal.  I never looked into the idea of whether you can even doo any kind of long term "lease" tax declaration property.

AND be very very careful that nobody left OUT of the transaction on the "seller" side as heirs can come back and void the whole thing - there IN NO TITLE INSURANCE operation here, whereby title insurance company handles the transaction and give you a policy if ownership ever challenged.  Experiences here in Philippines explain WHY "Title Insurance" Companies exist in developed world...

Anyway I think somebody here had it right...don't put in more than you willing to lose then so be it.
- @PhilRes



I guy I know here in the Philippines from Canada told me he spoke to a local Philippines lawyer and the lawyer told him even if the house is in his wife’s name each party gets 50/50 if the house is sold. I don’t know if this is true or not because frankly the guy often presents himself as a know-it-all.
coach53
I guy I know here in the Philippines from Canada told me he spoke to a local Philippines lawyer and the lawyer told him even if the house is in his wife’s name each party gets 50/50 if the house is sold. I don’t know if this is true or not because frankly the guy often presents himself as a know-it-all.
- @onefogarty

Well. Its 50-50 by marriage, but I dont know if thats direct or only if a marriage ends.
but the foreigner can do as a friend of mine  -  protect himself some extra concerning selling by at the buying make so he is at the titled ALSO as "co-owner" (not correct expression) to make sure the buyer understand the foreigner need to sign the selling also, so the foreigner can refuse to sign if he dont get half of the money. 
Actualy spouses need to sign anyway  (in almost all situations) but not all know that so better be at the title so buyer cant claim they didnt know and so Register of Deeds dont let the deal through without the foreigner's signing.
Lotus Eater
@onefogarty


Now you've had advice from two 'know-it-alls' :)
coach53
@onefogarty


Now you've had advice from two 'know-it-alls' smile.png
- @Lotus Eater

I cant help you dont know so litle 1f923.svg
You can be proud of you are the undisputed champion in lies and BS  :D  repeetingly writing such,  but you have never managed to corect me -  which isnt odd by I have been corrected only once concerning Phils and it wasnt by you... 
(I dont remember if there have been any more when I havent written "If I remember correct" or such. The error without such was concerning a VISA change were I didnt know the info I had was old.)
Not counting spelling errors  :)

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