Buying a section of a lot.

Recommended Posts

Snowy79
Posted
Posted

Has anyone went to the trouble of buying a section of a lot and if so what was the process and time frame.

I'm asking as I've been offered a stunning lot which is in one persons name. It has been surveyed and the lot split into two parts but on the title it's one lot. The seller is desperate for money but obviously I'm Scottish and not parting with a Peso until everything is in one title with no restrictions.

I'm going to the lot on Wednesday with my own surveyor who will mark out the alleged section of the lot that is for sale to ensure it's within the lot on the title.

Link to comment
Share on other sites

Snowy79
Posted
Posted

Yes. That's the exact reason I've explained that only once the lot is legally separated and titled will there be any cash. As a safety measure it'll be in my partners name. :whistling:

  • Like 2
Link to comment
Share on other sites

Jack Peterson
Posted
Posted
Just now, Snowy79 said:

Yes. That's the exact reason I've explained that only once the lot is legally separated and titled will there be any cash. As a safety measure it'll be in my partners name. :whistling:

 Legally Snowy, that is all it can be, in your wife's/ partners name :smile:

  • Like 2
Link to comment
Share on other sites

Snowy79
Posted
Posted
Just now, Jack Peterson said:

 Legally Snowy, that is all it can be, in your wife's/ partners name :smile:

Yes, It's one of those occasions where I can afford to lose the money. If it all goes well then I've won a watch. If it goes belly up I've got my own titled condo in Boracay making me good money and a pension or two keeping the wolves from the door.

  • Like 2
Link to comment
Share on other sites

sonjack2847
Posted
Posted
1 hour ago, Snowy79 said:

Has anyone went to the trouble of buying a section of a lot and if so what was the process and time frame.

I'm asking as I've been offered a stunning lot which is in one persons name. It has been surveyed and the lot split into two parts but on the title it's one lot. The seller is desperate for money but obviously I'm Scottish and not parting with a Peso until everything is in one title with no restrictions.

I'm going to the lot on Wednesday with my own surveyor who will mark out the alleged section of the lot that is for sale to ensure it's within the lot on the title.

We bought a lot from a lot but it had already been divided legally.We did the paperwork and had the title deed after about 6 weeks.

  • Like 2
Link to comment
Share on other sites

Snowy79
Posted
Posted
36 minutes ago, sonjack2847 said:

We bought a lot from a lot but it had already been divided legally.We did the paperwork and had the title deed after about 6 weeks.

My understanding is the person on the original title needs to apply for a deed of partition to allow the separate lots to have their own title. This will ensure all back taxes and ownership details are up to date. 

  • Like 1
  • Thanks 1
Link to comment
Share on other sites

sonjack2847
Posted
Posted (edited)
28 minutes ago, Snowy79 said:

My understanding is the person on the original title needs to apply for a deed of partition to allow the separate lots to have their own title. This will ensure all back taxes and ownership details are up to date. 

Yes the sellers did prove that to us before we proceeded they had all the certificates and paperwork with them.

Edited by sonjack2847
Spelling
  • Like 3
Link to comment
Share on other sites

virginprune
Posted
Posted

Our plot, of 425sqm, was subdivided from a 2 hectare agricultural plot, with a clean title. It has taken longer than usual to get the title deeds because of change of land to residential. It is all above board and myself and my partner have no worries concerning this but getting the approval has dragged on a bit because the seller has not had enough money to process yet. This is due to him paying huge hospital fees for his wife's cancer treatment. We appear to be getting the approval next month according to conversations my partner has had with the seller,  a couple of days ago. 

I will update when relevant.

  • Like 2
Link to comment
Share on other sites

Reboot
Posted
Posted

Good advice here...there was a 6 hectare lot I was considering...and was maybe subdividing a 2 hectare chunk (didn't think I needed more)...of course, the deal is dead now but something to think about.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...