Buying Land in the Philippines - Protecting the US Citizens Interest

[Talako 781]

See if I understand.

 

You want to buy a piece of real property in the Philippines.  As a US citizen, you cannot own, so your wife will buy with your (or community) funds.  She would have the property in her name.

 

Your question is, how do you protect yourself should your wife run off with Rex the pool boy, or should you want to enter into a Pinay exchange program?

 

The simple answer would be a post-nuptial agreement.  The agreement can address a buyout or a reallocation of the marital assets to compensate.   

 

If you want to involve selling the the property or any kind of performance in the Philippines you would be SOL.  

Edited April 22, 2021 by Talako

[Carpe Vinum 2,327]

1 hour ago, Joe Kano said:

Yes, I know

 

I am thinking this thru. I didn't want to start a new post.

 

So what you think about everything done in the USA and have a buyout clause in case of split or divorce?

I still think she is going to get all of your stuff 😉

[aaron2020 11,651]

5 hours ago, Joe Kano said:

I don't want them to enforce a sale, I want them to enforce a US Contract. How ever it written like in case of divorce, other party pays half of purchase price.

Get it now?

I get you.  Don't think you're getting it.

[payxibka 10,045]

2 hours ago, Joe Kano said:

Yes, I know

 

I am thinking this thru. I didn't want to start a new post.

 

So what you think about everything done in the USA and have a buyout clause in case of split or 

Even if you are awarded the property, since the property cannot be deeded to a non citizen,  what is your plan?

[John & Rose 7,239]

6 hours ago, Joe Kano said:

I don't want them to enforce a sale, I want them to enforce a US Contract. How ever it written like in case of divorce, other party pays half of purchase price.

Get it now?

No way would a US court intervene in a foreign property dispute when the US Citizen is not allowed to own property in that foreign country by law.  They will not make an exception for you because of a divorce.  The property will be hers no matter what.  If she decides not to sell it you have no legal recourse.  She can legally just say no to the sale and no US court can change that.

 

You cannot legally own half the property that you are not legally allowed to own.

 

Edited April 22, 2021 by John & Rose

[Talako 781]

1 hour ago, John & Rose said:

No way would a US court intervene in a foreign property dispute when the US Citizen is not allowed to own property in that foreign country by law.  They will not make an exception for you because of a divorce.  The property will be hers no matter what.  If she decides not to sell it you have no legal recourse.  She can legally just say no to the sale and no US court can change that.

 

You cannot legally own half the property that you are not legally allowed to own.

 

 

What gets interesting is if the property is purchased from community assets.  Joe (current but probably not future nom de plume) is in Texas a community property state.  He has an interest but no title or rights, and no way to compel anything.  I am guessing it can solved in marital asset division.  A lot guys can attest to that being a good way to get jacked. 

[Joe Kano 327]

16 hours ago, payxibka said:

Even if you are awarded the property, since the property cannot be deeded to a non citizen,  what is your plan?

I don't want the property in the first place I just want the cash value.  Only property I might own would be a condo in  new area like Mactan Cebu Newton.

 

If I was awarded the property I would put in in my relative wife name, they moved to PI a few years ago.

 

I have put both my motorbikes in her name already, just in case I have a wreck and it the "Rich Kanos" fault, with it being in her name I am golden. 

[Joe Kano 327]

17 hours ago, Talako said:

See if I understand.

 

You want to buy a piece of real property in the Philippines.  As a US citizen, you cannot own, so your wife will buy with your (or community) funds.  She would have the property in her name.

 

Your question is, how do you protect yourself should your wife run off with Rex the pool boy, or should you want to enter into a Pinay exchange program?

 

The simple answer would be a post-nuptial agreement.  The agreement can address a buyout or a reallocation of the marital assets to compensate.   

 

If you want to involve selling the the property or any kind of performance in the Philippines you would be SOL.  

Post Nuptial Agreement would be the answer

 

Thank You............

[Joe Kano 327]

13 hours ago, Talako said:

 

What gets interesting is if the property is purchased from community assets.  Joe (current but probably not future nom de plume) is in Texas a community property state.  He has an interest but no title or rights, and no way to compel anything.  I am guessing it can solved in marital asset division.  A lot guys can attest to that being a good way to get jacked. 

Yep, I have seen a few guys getting taken to the cleaners. But now of day most of the guys I know who are married to pinays have taken steps to protect their assets before marriage.  They learned the hard way

[Joe Kano 327]

17 hours ago, boris64 said:

I still think she is going to get all of your stuff 😉

I live in Texas a community property state, so I am pretty good. All my assets are in my name only and I am 100% owner, and was nine before we married.  House, Boat,  Automobiles, Bank Account with fund that have never mingled. 

 

So I am good on that front.  I did buy a Honda CRV last year, and a Ford Explorer this year, but if I was gonna divorce I would just sell the one of them, and then only have to split assets on the other, if it even came to that but no biggie if it did.

 

I have played this game before, so I know the rules and how to win.

[flicks1998 1,044]

Its practically impossible to protect yourself and any assets you may share with your Filipino partner in the Philippines, even if you have some kind of pre-nuptial agreement or anything else.  All she has to do is use Republic Act 9262 against you (whether its true or completely made up) and you will lose any and all assets you may have in the Philippines.  Most Filipino partners do not know this exists, but the ones who do, and eventually have a messy breakup or divorce, can use this Act and you are SOL.  Foreigners have been completely cleaned out by the act and there is nothing you can do but walk away.  And as mentioned, there could be no basis to her story, it could be completely fabricated, and you will lose.  Guaranteed.  100%. 

 

All it takes is for her to go to the Barangay and accuse you of swearing at her to get you thrown off your property and ordered out of her life.  No court case, no anything.  Its a terrible piece of legislation, but it exists and is used.  

Edited April 23, 2021 by flicks1998

[Joe Kano 327]

43 minutes ago, flicks1998 said:

Its practically impossible to protect yourself and any assets you may share with your Filipino partner in the Philippines, even if you have some kind of pre-nuptial agreement or anything else.  All she has to do is use Republic Act 9262 against you (whether its true or completely made up) and you will lose any and all assets you may have in the Philippines.  Most Filipino partners do not know this exists, but the ones who do, and eventually have a messy breakup or divorce, can use this Act and you are SOL.  Foreigners have been completely cleaned out by the act and there is nothing you can do but walk away.  And as mentioned, there could be no basis to her story, it could be completely fabricated, and you will lose.  Guaranteed.  100%. 

 

All it takes is for her to go to the Barangay and accuse you of swearing at her to get you thrown off your property and ordered out of her life.  No court case, no anything.  Its a terrible piece of legislation, but it exists and is used.  

Didn't know it existed,  but not surprised at all at how US Citizens are treated over the Philippines Government.

 

You can't own land, You can't get a professional job as a lawyer or even a Registered Nurse, but it's fine and dandy for people from Philippines to come to the USA and become a RN or a Lawyer.

 

But I am weighing my options on what do if I want land to build or buy condo or do nothing at all.  I don't mind flushing up to like  maybe 1 million down the toilet and risk it, but I was thinking about spending 8 million or so peso either on condo or land/lot for myself.

 

If you buy a condo do they ever tear it down after say 30 years and start over and you loose your condo?

[Talako 781]

39 minutes ago, flicks1998 said:

Its practically impossible to protect yourself and any assets you may share with your Filipino partner in the Philippines, even if you have some kind of pre-nuptial agreement or anything else. 

 

 

It is agreed that any property in the Philippines is gone.  Can't own it, sell it, or anything.  The agreement simply compensates the US citizen through US asset division for his loss of 1/2 of the marital property in the Philippines.

 

Before you go there, just because he can't legally own it in the Philippines doesn't mean that he does have an interest in it for US purposes.   

[Joe Kano 327]

11 hours ago, Talako said:

 

It is agreed that any property in the Philippines is gone.  Can't own it, sell it, or anything.  The agreement simply compensates the US citizen through US asset division for his loss of 1/2 of the marital property in the Philippines.

 

Before you go there, just because he can't legally own it in the Philippines doesn't mean that he does have an interest in it for US purposes.   

Exactly

 

I have done some research and this appears to be the case.  

[flicks1998 1,044]

23 hours ago, Talako said:

 

It is agreed that any property in the Philippines is gone.  Can't own it, sell it, or anything.  The agreement simply compensates the US citizen through US asset division for his loss of 1/2 of the marital property in the Philippines.

 

Before you go there, just because he can't legally own it in the Philippines doesn't mean that he does have an interest in it for US purposes.   

Do you know of a case where that has happened though? I know of no one, every one I know lost everything they had in the Philippines, whether a USC or not.