⌛ Should I Rent or Own a house in the Philippines?

My solution is to purchase land in my wife's name, build a house but leave the majority of my investments in the U.S. Best of both worlds in my mind.

Foreign investment isn't necessarily what ruins places, it's unregulated and unmonitored development without consideration for damage to the environment that ruins places. Wise development can actually preserve areas if done correctly. Unfortunately, most of Asia is seeing development run amok in the name of economic prosperity for the citizens.
I think it would be great if the government would allow foreign ownership of primary residences with limitations on the land area. I really can't see the harm in that.

 

NEVER BUY UNTITLED LAND---I hope this info. can help-
The biggest drawback to title approval in not public
objection. It is objection from DENR and other government
agencies. A copy of your application is sent to all governments groups
concerned and any one of them is likely to file an OPPOSITION to
you getting title. Besides, you should not be the one to make the
application. Your sellers should apply for title. If there is no
objection filed within the time for filing, then maybe you can
consider buying the lot from the applicant and inserting your name
in the applications as the new owner. Then, if a title is
approved,
it will be issued to you (your wife).

It will take about a year to get the survey approved and then
another 2 years to work through court if your lucky and there are
no hangups with the previous owners.

The big problem I see is that the DECLARATION OF HERISHIP AND
PARTITION was never registered with the Tax Assessor or the
Register of Deeds since the lot was never partitioned by either of these
groups. The deed of adjudication and partition, to be valid, must
go through a registration process with either the tas assessor's
office
or the ROD. Extrajudicial settlements and partitions by the heirs
must also be advertised in a local newspaper for three weeks to
make sure all the potential heirs are notified. The inheritance tax
must also be paid to the BIR and they must issued a Certificate
Authorizing Registration (CAR). Unless all this has already been
done, you are looking at a worthless scrape of paper and will end
up chasing your tail around in circles.

 

Thanx, Got The Lesson From It.already A Victim

WE want to pay off the land but the owner
can't transfer to her(my wife) name because they just titled the land, and now
she had to wait on 2010. This was transacted last 2004. See, they
said that they will transfer to her name only on tax declaration if we
pay it in full. Is this legit the tax declaration?
We have heart ache and head ache and we really regrate that we alraedy cash out money to this land owner.

 

Can anyone reccommend a good, honest lawyer versed in Philippine real estate law? It seems that there are a lot of potential pitfalls for the uninitiated to avoid. I, for one, haven't a clue to Philippine property ownership laws and would like some professional advice and guidance.

Chi Town

 

Can anyone reccommend a good, honest lawyer versed in Philippine real estate law? It seems that there are a lot of potential pitfalls for the uninitiated to avoid. I, for one, haven't a clue to Philippine property ownership laws and would like some professional advice and guidance.

Chi Town

 

a good honest lawyer? I can't find one in Ireland never mind P.I hmmm you probably have better luck looking for hen's teeth!!

 

None in Australia either......LOL...the worst of them become politicians...

 

The only way for a foreigner to own land in his name is if
his/her Philippino spouse passes away.

Than the title can be transferred into the surviving spouse's name.

 

Are you sure? I've heard about a zillion times that if the surviving spouse is a foreignor...they are given a reasonable time, I believe it's three years, to sell the property. After that it is 'game on' with the relatives...

 

Heres a good forum to post questions about issues regarding Philippine law.

Philippines : Gov.Ph : Forum :

Usually you'll get a good answer.