Has anyone here ever invested in real estate overseas in a developing nation?

[w¡n9Nµ7 §£@¥€r 123]

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

Just recyle the renters every so often. Make sure no-one gets to rent the place for 5 consecutive years and you should be able to get around that kind of nonsense. Just a guess...

It may not be easy to evict tenants there, depending on the laws. In India it can be difficult and sometimes can take years.

Eviction is but one way to "recyle" tennants.

I know. One common practice in India is the "men with guns" technique. They barge in when the mans not home, they trash the place, terrorize the women and chilrun' and throw all the furniture outside on the street. And they leave with an ultimatum. Small town India, I seen it myself. It's crazy. I like the cities, well some of them.

[Mirorgate 0]

Squatters rights? Is that a left-over british thing?

Can't you just hire someone to maintain the house and grounds?

[w¡n9Nµ7 §£@¥€r 123]

Squatters rights? Is that a left-over british thing?

Can't you just hire someone to maintain the house and grounds?

No, not a brit thing. India went hardcore left during the cold war. Landowners were evil and "the people" were demanding their rights. My grandparents property was all seized and given to "the people" (Party functionaries and their families). Some of those old rules still exist. Many more de facto rules exist which aren't written anywhere but assumed.

[Mr. Big Dog 10,747]

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

Just recyle the renters every so often. Make sure no-one gets to rent the place for 5 consecutive years and you should be able to get around that kind of nonsense. Just a guess...

It may not be easy to evict tenants there, depending on the laws. In India it can be difficult and sometimes can take years.

Eviction is but one way to "recyle" tennants.

I know. One common practice in India is the "men with guns" technique. They barge in when the mans not home, they trash the place, terrorize the women and chilrun' and throw all the furniture outside on the street. And they leave with an ultimatum. Small town India, I seen it myself. It's crazy. I like the cities, well some of them.

Word on the street is that one doesn't need to travel to faraway exotic places to run into such practices. Or have I been watching too many movies?

[w¡n9Nµ7 §£@¥€r 123]

Word on the street is that one doesn't need to travel to faraway exotic places to run into such practices. Or have I been watching too many movies?

haha.

[mercuryroad 0]

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

Just recyle the renters every so often. Make sure no-one gets to rent the place for 5 consecutive years and you should be able to get around that kind of nonsense. Just a guess...

It may not be easy to evict tenants there, depending on the laws. In India it can be difficult and sometimes can take years.

Eviction is but one way to "recyle" tennants.

I know. One common practice in India is the "men with guns" technique. They barge in when the mans not home, they trash the place, terrorize the women and chilrun' and throw all the furniture outside on the street. And they leave with an ultimatum. Small town India, I seen it myself. It's crazy. I like the cities, well some of them.

Word on the street is that one doesn't need to travel to faraway exotic places to run into such practices. Or have I been watching too many movies?

I know....Canada has gotten completely out of control.

[nina1 0]

hmm, out of curiosity? Since your wife is still indian... Could you not buy the place and have HER family (or urs if uve got some there), to manage the place, or rent it out to others, or even LIVE in it?

[w¡n9Nµ7 §£@¥€r 123]

hmm, out of curiosity? Since your wife is still indian... Could you not buy the place and have HER family (or urs if uve got some there), to manage the place, or rent it out to others, or even LIVE in it?

Yeah that is the most likely course of action.

My original question (this thread has since deviated a tad ) was more about tax implications in the US and what peoples general experiences have been with foreign ownership.

[Mirorgate 0]

hmm, out of curiosity? Since your wife is still indian... Could you not buy the place and have HER family (or urs if uve got some there), to manage the place, or rent it out to others, or even LIVE in it?

Yeah that is the most likely course of action.

My original question (this thread has since deviated a tad ) was more about tax implications in the US and what peoples general experiences have been with foreign ownership.

Keep the prop then in your wifes name.. since she's an Indian National.. she wont pay taxes here. there.. nother story.

OR

move everything to offshore accnt like our illustrious leaders do.... no taxes that way too!

[noemij 0]

My parents own property in the DR and with the changes in the economy, it's proved to be a good investment....

[Hilarious Clinton 452]

Squatters rights? Is that a left-over british thing?

Can't you just hire someone to maintain the house and grounds?

Squatting goes way back. Common law stuff.. 9/10ths possesion etc..

"Squatting has a long history, as old as or older than the idea of property itself. To squat in many countries is in itself a crime; in others it is only seen as a civil conflict between the owner and the occupants. Property law and the state have traditionally favored the property owner. However, in many cases where squatters had de facto ownership, laws have been changed to legitimize their status. It is said that the United States Homestead Act is an example of such legislation. Additionally, US states which have a shortage of housing tend to tolerate squatters in property awaiting redevelopment until the developer is ready to begin work; however, at that point the laws tend to be enforced."

http://en.wikipedia.org/wiki/Squatters

[Jasman0717 9]

I own a chicken farm on Mindanao