Andy_16296

Hello All

This is my first post on here.

just a little about ... Married to a filipino for 12 yrs.. both live and working in the UK...

We are now ready to move to the Philippines for good... I know that I myself cant own a house in my name... and I have no problem with that...

My folks now want to move with us to the philippines... .and we all inten to lump moneys together and buy a 5 bed house.

My Question is this...

As this new house would be in my wifes name...
What would happen if she was to die.
And if one of her family member could try to remove us all from this house...As we cant own it.

Is there any paper work that can prevent this from happin.

Thanks Andy

mikemike

Assuming you are married your name can appear second on the deeds. You will need to ensure that you can prove that yours is the source of capital for the purchase.

The Constitution does allow a foreign spouse to retain ownership. Equally there are more than a few cases that has seen such ownership stripped where it can not be proven that the house was fully funded by the foreigner.

Children become the first heirs to the property but cannot force a sale whilst your in possession. Once again this can get caught up in the courts on a patrimony claim.

What should be a clear cut position, as much as any here, is full of smoke and mirrors.

Suggest you try to find a good and honest attorney who deals in real estate and has a better appreciation of Constitutional law than most who treat it is a 'pick and mix' to suit.

I am in a similar situation, we have two children and my name is second on the deeds. Should for any reason I am booted out then I have sufficient income and capital to cope.

Treat this as a very high speculative investment, would you then gamble everything on it?, especially as the dice could be loaded.

If it all did go wrong, what would you and your folks do then.?

Andy_16296

Thanks Mike for the reply will take it all on board. Cheers Andy

Stokkevn

A friend came up with an ingenious way, well I thought it was. He bought his wife a plot of land, she then leased it to him for 50 years and then he built the house that they wanted. When he dies the house reverts to her and the lease cancelled.

Gazza-d

Yup that's an igenious one for sure. Doesn't work, first you can only lease for 25 years with an option for a further 25 years. Second you can't lease from your wife.

mikemike

Gazza is correct on both counts. Another one of these 'fool proof ' schemes that does not pass go

Stokkevn

I will have to have a word with my friend about his land lease agreement, we had had a few beers before the subject came up.

Stokkevn

Have found this statement on a few gov and agency websites regarding leasing of land.

"Leasing land in the Philippines on a long term basis is an option for foreigners. Under the Investor’s Lease Act of the Philippines, a foreign national and/or corporation may enter into a lease agreement with Filipino landowners for an initial period of up to 50 years renewable once for an additional 25 years."

Gazza-d

Some sources say 25+25 and others 50+25. Where it all falls over is that the family code treat a couple as a single entity so you are trying to lease your own congical land.

Stokkevn

Just found out, you are right. Land is leased from a company that the wife owns, so 'apparently' legal. Think I will stick with what I have got.

mikemike

As the wife has a controlling interest in the company that is leasing to her spouse, it is invalid. I explored this route as I set up a corporation to buy the property we lived in until we got married. Whilst she was not married to me it worked well.

Stokkevn

Have you got any references, links, laws etc I can advise him of.

mikemike

We used Chan Robles on line, plus talked it through with our family attorney at that time, he is now deceased.

Apparently it is why Marcos and his cronies thought he was so smart etc, Nothing to do with the Cory constitution, if that helps.