Free Legal Advice Philippines
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

Buying house and lot in Philippines.

2 posters

Go down  Message [Page 1 of 1]

1Buying house and lot in Philippines. Empty Buying house and lot in Philippines. Thu Apr 21, 2011 8:17 pm

olsoraune


Arresto Menor

I'm a man from Norway married to a filipina. We are planning to buy a new house and lot in a subdivision in Davao, but philipinian laws don;t allow foreigners to own land, so my wife will anyway be the owner of the lot. As far as I understand I can be the owner of the house. In that case, are we equal owners of the whole property in case of divorce or is she in fact the owner of the whole property ? And what happens if I die ? I have two sons, which rights do they have to the inheritage. Just to mention, I will pay every peso of the project. Can I assure my sons a reasonable part by setting up a will or testament, and will that be legal here in Philippines even if I'm a foreigner. Thanks for answers.

2Buying house and lot in Philippines. Empty Re: Buying house and lot in Philippines. Thu Apr 21, 2011 9:37 pm

attyLLL


moderator

consider purchasing the property for your sons with your wife as trustee though you may be asked to pay additional donor's taxes. at least you don't have to pain yourself over where the property will go if things go wrong. just name the property "Wife in trust for Sons"

your wife will not be able to sell the property without a court order and it can be transferred to them later when they are of legal age tax free.

or buy a condo.

https://www.facebook.com/BPOEmployeeAdvocate/

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum