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Tips in buying lands in the Philippines

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

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  1. denpet

    denpet DI Senior Member Highly Rated Poster Blood Donor Veteran Air Force

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    Interesting how my Swedish parents then would have priority over my Filipino wife for the 40% of shares I have in our corporation.
     
    denpet, Apr 4, 2013
    #61
  2. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    See how that works out for you in the courts I am Dumaguete. Foriegners almost always lose here. Remember that corporation is owned 60 percent by a filipino.
     
    Rye83, Apr 4, 2013
    #62
  3. denpet

    denpet DI Senior Member Highly Rated Poster Blood Donor Veteran Air Force

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    Yes, that's why no one will inherit the LAND in case of my death. But my 40% of the shares of the corporation.
     
    denpet, Apr 4, 2013
    #63
  4. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Last I checked 40 percent is not the majority share holder. Hope you trust the other 60 percent of the share holders. Something I couldn't do unless the contract had been written up so lopsided that I couldn't lose.........which is pretty much impossible in this country. Look at contractual laws here and you will see all sort of ways for a filipino to get out of the contract.

    Hope all goes well if the land is ever in dispute.
     
    Rye83, Apr 4, 2013
    #64
  5. denpet

    denpet DI Senior Member Highly Rated Poster Blood Donor Veteran Air Force

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    The land is owned by the corporation. Clean papers. So no one can dispute the ownership of the land. It belongs to the corporation.
    The share holders can do pretty much what they want with their shares. So, if the other owner decide to sell the shares, it's possible. But, I will still have my 40%, and that is far better odds than many have setting their investments on a GF, who can take it all whenever she so please.
     
    denpet, Apr 4, 2013
    #65
  6. DavyL200

    DavyL200 DI Forum Luminary ★ Global Mod ★ ★ Moderator ★ Highly Rated Poster Showcase Reviewer

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    There are other ways of owning land etc like putting into a trust,but you need to find a lawyer to have the knowledge,of doing this,not easy here in Dumaguete but there are plenty lawyers in Manila who can do. There was a recent case in Manila where a foreigner and a Filipino wife got into a bad situation and went to court,the judge clearly asked the filipina wife to prove how much she paid into,the property,and she could not answer so judge say case dismissed! The courts in Manila are starting to understand the probs of foreigners now and understand that they bring in good revenue to the country and spend money, lets hope it comes here also soon.
     
    DavyL200, Apr 4, 2013
    #66
  7. brian ausie

    brian ausie DI Forum Patron

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    if you really want to know I can contact my friend and see if he will talk to you
     
    brian ausie, Apr 5, 2013
    #67
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