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Tips in buying lands in the Philippines

Discussion in 'Off-Topic Forum' started by Gold Surfer, Apr 9, 2008.

  1. OP
    OP
    Gold Surfer

    Gold Surfer DI Junior Member

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    Land is called registered when it is "registered" under the Torrens
    system and has a title of some sort. Titles come in the following
    variations:

    (1) An "Original Certificate of Title" called an OCT is the most
    respected.

    (2) A Transfer Certificate of Title called a TCT is the second most
    respected as it is issued when a land with an OCT is transferred.

    (3) The least respected are the Patent Titles. These titles must be
    studied carefully as many can not be sold or mortgaged until at least
    5 years and maybe more. And... when transferred to someone else for
    any reason, many of these properties can be reclaimed by the original
    owner or his relatives five years later. Be careful.


    Land that has not yet been registered and titled under the Torrens
    system is called "unregistered" land.

    The most importnat thing to check in unregistered land is its
    classification. Make sure it is not timberland or forest. It must be
    classified as Aleinable and Disposable (A&D). The date it was
    classified as A&D is also critical if you ever plan to get a title.
    The A&D classification must be at least 30 years ago, otherwise the
    land still belongs to the State. Land can not be acquired from the
    State until it has been claimed by a possessor for at least 30 years
    from the time it became A&D. If the land was only released for A&D in
    1990, then it will be 2020 before anyone can get a title and become
    the true owner.

    Be careful here. Buying land on a tax declaration alone is loaded
    with pitfalls and not for those who do not know what they are doing.
     
  2. yabs

    yabs DI Forum Adept Restricted Account

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    there is a rule also that a foreigner can only inherit land up to 1000 sq m
    so if it is more than the foreighner does not own it.
    again rule is: ONLY INVEST WHAT YOU ARE PREPARED TO LOSE.
    I speak to forignewrs all the time excited about buying land and proiperty
    but its a mugs game as far as i see
    dodgy land titles, rising sea levels, political instability with the next govnt maybe cha nging rules, possibility of a karaoke bar being built right next door to you.
    Alos whats the point in buying when you can rent so cheaply?
    IMHO anyone who buys land here and builds a property unless very rich is a MUG
     
  3. daffs

    daffs DI Forum Adept

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    I agree with yabs, even as a filipino you can be even still a victim of some hidden problems of land buying ( no proper documents,many owners of a small land that you don’t know before buying ,only appearing the other owners when you already bought it ...govt. sometimes will also appear after , claiming that your land is not a private land but own by the govt… etc….).The more the foreighner who is very clear that you cannot own a land here.Well, if your Filipina wife is really so loyal of you and you trust her 200% that you think death is the only one that can take you both a part …so no problem.Then you can live happily forever and after…..
     
  4. jellyfish

    jellyfish DI Forum Patron

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    I agree with Yabs......I bought land (on HER name) and am still happy with that, but is has been a very difficult process which you have to take into account when you start the whole buying procedure.
    Take a good lawyer from the start onwards (we did !).
    So I'm a MUG in the eyes of Yabs, because I don't regard myself as very rich.
    But I don't mind the opinion of some people who obviously can't aford it. :D
    But indeed, renting is surely a much safer option. No doubt !
     
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  5. Rhoody

    Rhoody DI Forum Luminary

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    Jelly , sure you are rich... its a easy formula.

    take the the money you have and devide it by the years you have left in your life..:p
     
  6. yabs

    yabs DI Forum Adept Restricted Account

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    no offence Jelly
    we've all been mugs at some point in our lives
    we just have to try and learn from our mistakes
    something I never do :smile:
     
  7. yabs

    yabs DI Forum Adept Restricted Account

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    What I also don't agree with is when you get a lot of foreigners buying the land it pushes the prices up out of reach of ordinary people
     
  8. jellyfish

    jellyfish DI Forum Patron

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    Oh gosh...then I'm really poor.... My money ?? It's hers , not mine.
    The money I have in my pocket divided by 20 years ????
    That you call RICH ? :D :D :D
    But I don't complain at all. Did I ?:rolleyes:
     
  9. gracie

    gracie Ring Ring. Who's calling?

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    any tips on where i can find laws in putting up a beach resort, where i will have two other investors? i don't have any idea about contracts that would make me safe against being taken over by the investors...technicalities for example. One of the would be investors is a truly foreigner and 2 are natural born citizens but have a foreign citizenship.
     
  10. gracie

    gracie Ring Ring. Who's calling?

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    Investor contracts

    any tips on where i can find laws in putting up a beach resort, where i will have two other investors? i don't have any idea about contracts that would make me safe against being taken over by the investors...technicalities for example. One of the would be investors is a truly foreigner and 2 are natural born citizens but have a foreign citizenship.
     
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