I was under the impression that foreigners could not own property in the Philippines...aside from condominiums. At least that is what I was told in Cebu when I looked at real estate in January 2010. So maybe those planning on building a house don't plan to own it...or maybe they have a Filipina spouse and it will be in her name.

 

This, I believe, is still the case. By the way, even if married to a pinay and your own name appears on the title, you still have no right to own the place as a foreigner cannot own land in the Philippines hence you might own the building but not the ground where it stands on........furthermore, the house cannot be part of an inheritance if the beneficiary is also a foreigner, so no kids with different nationalities. If your pinay lady was to pass away before you, you would have to fight off any claim from relatives, and if successfull and still alive, you would be forced by law to sell the place as you cannot own land....so think twice. Rhoody might be right in insisting to rent.
When it comes to condominiums, you could rightly own one as long that the majority of the other apartments in the same block are own by pinoys (there is a percentage but i cannot remember it).......so good luck. If still considering getting a property in Dumaguete, I'm considering selling my own home, so if anyone is interested, send me a private message....

 

IMHO, if you want to build a house here, and you are married and love your wife, put it all in her name and don't worry about it. Lots of stories about guys getting screwed but you can protect yourself against s__t happening with an attorney and a notarized document stating if any of the following of your concerns happen you will immediately sell the house and your wife will only get x % and you will get the majority x %. If you want your house only in your name, you will, as I understand it, only own 40% regardless of the corporation alternative. At the end of the day, if you marry her, give her what she deserves, if you don't marry or choose the wrong one, then lots of luck.. This is not a country where foreigners can come here and build their kingdom and exclude a wife or girlfriend, same for Thailand.

 

I agree with patO, the Filipino Government has legislated to protect its own people from unscrupulous foreigners, and rightly so. On the other hand there is nothing in place to safeguard foreigners from getting screwed; also put yourself in the position of a retired foreigner whom after spending many years in the Phils and losing his loving wife is left to face the stark reality of having to sell his home and possibly leave the country penniless........
This should be addressed by the Government too.

 

House

I plan on building a small house there in the future, and of course I'll probably put it in the Commanders name, but if for some reason something was to happen to Her, wouldn't My two Daughters be entitled to it? They were both born there.. Cheers

 

Probably best, most PROFESSIONAL real estate people in the entire country happen to have their headquarters right here in Dumaguete. Check out Beautiful Properties Philippines | Real Estate For Sale / Rent - Houses, Lots, Beachfronts, Islands, Condos, Residential Homes, Farm Lands | Manila, Cebu, Davao, Makati, Bohol
I've known the owners personally for many years. They are honest and competent. They don't always have the best listings, however, because many Filipinos refuse to list their property with anyone.

 

There are many ways for foreigners to protect their investment in real estate.
Most popular now is to make a deal with the bank (any bank)
Just mortgage the property(title in the bank),pay a small intrest and have it written in the contract that you (the bank) can sell this property at any time (upon your request) and that you are the only benificiary of the money from said sale.
As foreiner you can not own a house (in most cases) but you are allowed to make businessdeals and own money.
Any bank can inform you about this.
Just contact a few banks to get the best option.

 

So.......if I understand you correctly, my property could be titled in the Bank of Knowdafish? :D

 

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