Dumaguete Info Search


Why ???

Discussion in '☋ Dumaguete City ☋' started by Rhoody, Oct 1, 2007.

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  1. paalao

    paalao DI Junior Member

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    Right, a lease of initial 50 years with renewable options of 25 years each.
    But with a signed contract that show that I can sell the whole lot without need of her signature but she cant sell without my signature. And my signature have to be witnessed by two people that I have approved when signing the contract. (to avoid cons)
    The contract also state that she can not resist the sale of the property unless I have made such changes.

    It is to be my choise if I feel my possible wife to be is to have ownership rights of the property and at what time that should happen.

    If I find the love of my life and it lasts then ofcourse she would inherrit it and I would also alow for something like that in a will. But being taken for the money and used as a milking cow with possible con in mind make me have a contract that will avoid such to happen.

    I am not unresonable, I am just carefull.
     
  2. jellyfish

    jellyfish DI Forum Patron

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    Paalao, leasing is NOT owning !
    You can't sell what you DON'T own.
    Whatever you put in your contract, you can't cheat the law.
    It seems you have better contacts.
    I hope for you you won't join the many "being cheated" .
     
  3. OP
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    Rhoody

    Rhoody DI Forum Luminary

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    Paalao,
    I am not a lawyer, but that would be very unique that a foreigner can sell land in the philippines what is NOT on his name and he does NOT own. That is simply not legal in the PI, whatever your signed contract says.
    .... but hey, I just sold Boracay to some rich Koreans...:D

    Rhoody
     
  4. paalao

    paalao DI Junior Member

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    If you have a verified signed contract from the landowner that landowner agree for the sale, it should be fully legal.

    One that you can obtain when you make an agreement that the landowner shall stand as landowner. (Against a fee that syas the deal is paid in full)

    And in doing so we are not braking any law.
     
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    Rhoody

    Rhoody DI Forum Luminary

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    it may work, but I consider that plan still as a bit naive. Typical for this country is the fact that the ink on a contract is more worth than the written letters (especially with a foreigner involved). You will not make it better/easier with another contract about the contract. I know a guy who lost around 2,5 Million peso because of some "accidentally" twisted letter in the name of an attorney somewhere in the contract.There are like Jelly said plenty of examples about things like that.
    Most of the times this "land-deals" work fine because of love and trust to the partner.
    Just my 7,5 years in the PI and 2 cent...

    take care, good luck and cheers

    Rhoody
     
  6. paalao

    paalao DI Junior Member

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    No doubth that you living the system knows about this. :smile:

    I am just trying to find loopholes and base it on my lawyer friends words after he talked to a Judge and a lawyer in some municipal north east of San Fernando. I am thinking...if it can be done I will do it hehe

    Look at this.

    Moving down there and having someone else own the property that I will invets large amounts in, in order to build my minature palace and having a VERY poor (in comparishment) sit on the title...is not very compelling for me.

    I could use one of my brothers wifes......but....

    BTW I just found a dream home but it is in Zamboanguita.

    Beachfront For Sale (Code: BF-52) - Zamboanguita, Negros Oriental, Philippines

    And I would have to sell my appt. back home to pay for it!

    Do you think they will get 20 mil for it? Or is it a hyped price?
     
  7. OP
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    Rhoody

    Rhoody DI Forum Luminary

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    here is another thread with plenty of information and links to other discussions about that. click here.
    Even all your contracts are fine, as a foreigner you have basically NO rights in the PI, a simple petition against you with some signatures is enough to make you officially "not welcome in the PI" whatever contract you have.

    contracts as a private foreigner in the PI are totally useless if somebody wants to get rid of you. There are other things to keep in mind when investing in property in the PI. Dumaguete grows fast and what is a nice and great piece of land today can be the construction side of a SM mall tomorrow. There are rumors of something like an "industrial-park" in the Valencia-area, an area where foreigners invest Millions of US$ to build their dreamhouse.

    For me it is simple... I rent my place and the next lovely Island is only a container-load away.

    I am sure that somebody will pay sooner or later 20 Mill (or close to that) for that property you mentioned. There are enough people around who don't need to look for their money and pay it with a smile. someone has just to find it... The prices especially south of Duma were only a third when I arrived here, but each morning a fool wakes up ... and one of them will pay the price.

    cheers

    Rhoody
     
  8. asilmaniac

    asilmaniac DI Junior Member

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    wow rediculous price...


    20 MIL if you buy a piece of lot with beach front myb 20M would go along way....the area is nice considering the location but better think twice and consider other options...it would be nicer if you just buy a certain property and build your palace there and you can have your own design...

    anyway you can name the property on behalf of your in-laws..btw, its really hard if you sell the property because its not on your name...on the second thought above options enumerated are the better advices if not the best ever exist...


    Gudluck on your quest of looking for your own palace and own kingdom...

    Cheers,

    ASIL
     
  9. paalao

    paalao DI Junior Member

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    Thanks :smile:

    I would rent a year or something first or I may just do a Rhoody, rent 4ever hehe:p
     
  10. jellyfish

    jellyfish DI Forum Patron

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    Paalao, sorry to say it but this makes me laugh.
    I start to believe all this is a joke, trying to figure out how people can react.
    Good luck with your castle or was it palace ? :D
    Don't read this as begrudging you.
    But I should be at least a bit more 'on the surface', certainly If I had never been yet in the Philippines. (like in your case)
     
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