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Married an buying property.

Discussion in '☋ Expat Section ☋' started by RonEtue, Jan 17, 2011.

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  1. shadow

    shadow DI Forum Luminary

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    From the 1987 constitution;

    "Section 7. Save in cases of hereditary succession, no private lands shall be transferred or conveyed except to individuals, corporations, or associations qualified to acquire or hold lands of the public domain."

    This means you can inherit land from your wife. If there are children involved they will also inherit a share of the land.

    Larry
     
  2. JoeMabini

    JoeMabini DI Member

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    Unfortunately, we do not know when death will come. Statistically, the odds are she will be around longer than you based on nature, but things happen so what will happen to your property?

    The law of succession in the Philippines is crazy and factors such things as legitimacy into the mix when dealing with dealing out the estate.

    Here is a scary read...

    Inheratance law in the Philippines
     
  3. JoeMabini

    JoeMabini DI Member

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    I am still confused about the foreigner not being allowed to own land in The Philippines

    Source:Inheratance law in the Philippines
     
  4. shadow

    shadow DI Forum Luminary

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    A foreigner can inherit land from his/her Filipino spouse. However, there will likely be some flaws along the way. If there are any children involved they are eligible for a share. Under some circumstances other family members (parents, and siblings of the Filipino spouse) may also. It is not a slam dunk that you WILL inherit, but under the law you are eligible. Philippine inheritance laws are very complex, and court rulings often hinge on who is paying the judge. Supreme court rulings are generally more predictable.

    A simple rule to save you heartache, don't invest anything here that you cannot afford to lose!

    Larry
     
  5. DivingDane

    DivingDane DI Junior Member

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    The best way to do it is by forming a corporation. This is complicated, takes time, and is very costly. If you however go along with it, you'll be able to exercise ownership-like priviledges of the land your corporation owns.

    Second best, and for most people quite enough, is to get a long term lease for 25 years (maximum allowable, unless it falls under investment laws) after which it is renewable for another 25 years. There is no such thing as automatic renewal after the expiry of those 25 years, ....

    but really... Are you even going to be alive long enough to worry about it? Will your house still stand in 50 years? This model is super cheap - you write the contract, have your lawyer check it out for a few thousand peso, and have it notarised. Done deal.

    Lastly, if you've been in country for ten years or longer (five, if you've done something of importance for the PH. or know some really important people...) you can apply for citizenship. Then you can buy and sell properties as much as you want.

    Good luck,
    DD
     
  6. JoeMabini

    JoeMabini DI Member

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    An attorney charges 30,000php for setting up a corporation according to BAR guidelines, but the actual cost is much less than that. I have done it 3 times already and can have a corporation ready to go in 5 days if someone needs it bad enough. No fixers, just knowing the process.
     
  7. shadow

    shadow DI Forum Luminary

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    For the most part I agree. I would point out that for the corporation angle, be very careful not to fall astray of the anti dummy law. If you do, you risk losing all assets of the corp as well as deportation;

    The Anti-Dummy Law of the Philippines

    Essentially make sure that this corporation has a LEGITIMATE purpose other than owning land, such as strong and verifiable business interests.

    In order to apply for citizenship you must have lived here for 10 years, be fluent in a native language, and be able to prove you "mingle" with Filipinos. If married to a Filipino the residence requirement is 5 years. The application process will take about 3 years, and expect to grease quite a few wheels along the way.

    Larry
     
  8. Brucewayne

    Brucewayne DI Member

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    Why not apply for dual citizenship?
    I hear the new law went into effect in 2010 and for about $1K USD one supposedly can have dual citizenship here now.
    I have spoken to an attorney about it and he says it had some bugs to be worked out, that was 6 months ago, so maybe I'll check back with him soon.
     
  9. shadow

    shadow DI Forum Luminary

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    Anyone can apply for Philippine citizenship, IF, they have lived in the Philippines for 10 continuous years, are fluent in a native language, and can prove they "mingle" with Filipinos. If married to a Filipino, the residence requirement is 5 years. The application process takes 3 years. So best case scenario one can get Philippine citizenship, and subsequent dual citizenship, after living here 8 years. This is not new, and there are no "bugs".

    The Bureau of Immigration, Philippines Official Website - Philippine Citizenship

    Larry
     
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