Author: Reekay V.
Since 2012 I’ve been traveling through various islands of the Philippines as a full-time Expat and spent 1999 living in Vietnam.
Share with me my ongoing adventures of life in the Philippines. Hopefully you find my observations helpful in your own adventures.
— Reekay
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Further reading; https://www.lordlaw.ph/foreign-ownership-of-real-estate
https://www.bcphilippineslawyers.com/foreign-ownership-of-land-in-the-philippines/
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What about the OPC (ONE PERSON CORPORATION)
You lose your super power when build a house for girl…
Find 4 Filipinos who hate each other but all like you. Give them each 15 shares, you keep 40 shares. You and any one of the four have a controlling interest.
If the philippine wife owning dies; then me thinks there is legal procedure for the widower to become owner.
Even to a Filipina wife it’s still stressful if she wants to kick you out she can and it’s her house you have no recourse.
Maybe buy the property before you get married and her lease it to you then build a house after marriage.
The best option, own the home, put the land in your wife’s name. Then have her sign a 99 year lease that’s put in a trust.. where it can be borrowed against… It’s also how you should leave money when you pass to them… So they have a yearly income for a lifetime, and can be transferred on her death, to your children or someone else…
I heard you can own land after 10 years of being a permanent resident and couple other small requirements i forgot
I don’t know why guys get sucked into buying a house with a girl you barely know; this is common sense quite frankly. I am with Reekay, the less I have owned the happier I have been.
How about a Trust ? Have the seller transfer the property in to the trust,
and the trust makes you the Beneficiary, and allows you to live there
as long as you want and have full use. You can have the Trust
do whatever you want. But you need a trustee to manage the trust property.
In this way you do not own it, the trust owns it.
If you have the finance, another option if is to buy a live aboard boat in a marina. Check the cost of mooring fees & the current moring contract, make sure the fees won’t sky-rocket after purchase because your a foreigner. Go through a reputable boat broker. If your gf or wife is planning to scam you in the future, she will be disappointed. This property belongs to you. She can’t claim it. If its gets unsafe for you in the future, sail away.
I had this very same question except I was looking at buying the land and putting in my wife’s name (ones I get married) but draw it up in a lease for 30 years. And after I am gone or after the time runs out my wife and her family would have the land and the home that’s on it. Reason why I was thinking about this is I watch a lot of videos of where a foreigner buys land and puts it in his wife’s name and builds a house and later she kicks him out leaving him without a home. The lease will stop that from happening.
Seems like my solution is to get one of those tiny homes I see on HGTV and DIY channels and stuff. If the land thing doesn’t work out, pack up the house and move it elsewhere.
Has anyone been in philippines during the corona lockdown?
Im wondering how strict it was, im in philippines now but there might be a mobkey pox lockdown soon. Anyone have experience during the pandemic here?
Didn’t Juelles in the Philippines have another method? Something like the Filipino owns the land but you have full power of attorney to sell. I’m not exactly sure. Please correct me if I erred.
Assuming a 20 something year old girl/wife will not end a relationship with you 10-15 years down the road and she has a paid-off house is a very risky assumption. About 75 percent of early age marriages fail here also. They just can’t afford to update the paperwork to record the failure. Female nature is the same everywhere.
You can’t even own a home in the US with property tax bs.
I’m not going to say never but unless I married a Filipina and wanted her to have a forever home after I’m gone as I am currently 64
One way is One Person Company (2019) but You need to have a Filipin Citizen as Your Book keeper. (Republic Act No. 11232, otherwise known as the “Revised Corporation Code of the Philippines” (RCC))
This makes perfect sense
IT IS A VERY FOOLISH TO BUY LAND OR A HOUSE IN THE PHILIPPINES. IT IS WASTE OF MONEY A WORTHLESS INVESTMENT. RENT AND MOVE AROUND ANYWHERE ANY TIME. ANYTHING ELSE IS POINTLESS TO BE ATTEMPTED OR EVEN DISCUSSED.
No thanks. I’ve heard some bizarre land ownership stories here that makes me feel that renting not so bad option.
i thought the maximum lease period was 25 years… renewable ONLY if the owner agrees to do so ! at least that’s what I read…
Depends on the type of home. Foreigners can own condos, which is a home BTW, And foreigners can home a tradiitonal home but cannot own the land. That must be owned by a Filipina or some sort either by marriage or through other relationships.
Further reading; https://www.lordlaw.ph/foreign-ownership-of-real-estate
https://www.bcphilippineslawyers.com/foreign-ownership-of-land-in-the-philippines/