Land power of attorney or leasing

[Gary D]

Can a foriegner hold a mortgage on land as that implies control over that land....and that's not legal.

[Snowy79]

58 minutes ago, Gary D said:

Can a foriegner hold a mortgage on land as that implies control over that land....and that's not legal.

I think it's all in the wording. Technically you can't but there's nothing to stop you lending money to purchase land for a Filipino and as part of the deal you get your money back somehow. Whether it's being allowed to use the land or as pay back once the land is sold. Nothing to stop you leasing it, thousands of businesses operate this way. There's reports of people holding a 25yr lease with an option to extend a further 25yrs but a couple of legal sites I viewed stated that the first 25yrs shouldn't be an issue but when you try to extend a further 25yrs this could be classed as controlling and wouldn't pass legal judgement. 

[Jack Peterson]

42 minutes ago, Snowy79 said:

as part of the deal you get your money back somehow.

 Let's hope so because this is the Land of NON returnable Deposits

[AlwaysRt]

1 hour ago, Snowy79 said:

There's reports of people holding a 25yr lease with an option to extend a further 25yrs but a couple of legal sites I viewed stated that the first 25yrs shouldn't be an issue but when you try to extend a further 25yrs this could be classed as controlling and wouldn't pass legal judgement. 

My understanding when reading the laws a few months ago was a 25 + 25 year lease was the maximum permitted, as stated specifically in the law.

[AlwaysRt]

3 hours ago, Snowy79 said:

It'll be written in that if I cancel the lease through my own choice the title clears in my girlfriends name. I'll spend my honeymoon in the Land Registry.

My thought in asking the question was what happens if you marry your gf since lending to, or leasing from, your spouse is not permitted. Everything should remain intact if you survive lending to and leasing from your gf while marrying someone else...

[Jack Peterson]

1 minute ago, AlwaysRt said:

My understanding when reading the laws a few months ago was a 25 + 25 year lease was the maximum permitted, as stated specifically in the law.

Ah! That is the Term allowed (by Law)per contract 25 +25  BUT if the owner wants to extend then that is OK My MIL's family are on their 80th year of Leasing

[Snowy79]

9 minutes ago, AlwaysRt said:

My understanding when reading the laws a few months ago was a 25 + 25 year lease was the maximum permitted, as stated specifically in the law.

The 25 and 25 is allegedly permitted but at the 25 yr stage if the person owning the land  has a second thought there's a greater chance the courts could rule against the request. I'll see if I can dig the precedence out as I'd deleted it.

[AlwaysRt]

22 minutes ago, Jack Peterson said:

Ah! That is the Term allowed (by Law)per contract 25 +25  BUT if the owner wants to extend then that is OK My MIL's family are on their 80th year of Leasing

Perhaps the full statement should be 25+25 years is maximum enforceable/allowed on one contract. Perhaps your MIL's family on in year 30 of a second 25+25 contract. Or it might also only be applicable to foreigners since citizens can own property.

[jpbago]

On 8/1/2017 at 8:06 PM, AlwaysRt said:

My thought in asking the question was what happens if you marry your gf since lending to, or leasing from, your spouse is not permitted. Everything should remain intact if you survive lending to and leasing from your gf while marrying someone else...

My g/f doesn't like that idea. My wife doesn't like it either. I don't know what to do.

[Jack Peterson]

8 minutes ago, jpbago said:

My g/f doesn't like that idea. My wife doesn't like it either. I don't know what to do.

For me, IF in Doubt, DON'T do anything that may come back and bite your backside.