Advice on buying a condo for my GF

[Raj]

Hello. I want and gift to my GF a condo in Manila. We know the property. I just need some advice on the process.

1. Can I just pay for the condo from outside Phils and put the condo 100% in her name? 

2. Will this create a tax liability for her? If so is there another way to buy the condo?

4. Can anyone recommend a good real estate lawyer in Makati who can handle this?

[Jollygoodfellow]

Welcome

Yes can be 100 percent in her name and even yours. Is she Filipina? 

Are you sure you want to gift her a condo? 

[Old55]

1) Yes, you can send your lady friend the money to Philippines for her to buy a condo. 

2) I'm not sure the tax liability or other fee's involved purchasing a condo. 

3) I don't know any attorneys in Manila.

Some condos may be fully owned by a non Filipino citizen. 

 

[Lou49]

You could legally  put the condo in your own name...... Putting the condo in her name is ok if you are prepared to accept a total loss of your money some day if she walks away.

[bigpearl]

17 hours ago, Raj said:

17 hours ago, Raj said:

 

 

17 hours ago, Raj said:

 

 

17 hours ago, Raj said:

 

Welcome to the forum Raj.

Cheers, Steve.

Edited December 21, 2017 by bigpearl

[Snowy79]

Hi Raj as has been highlighted it's your money to do as you wish but speaking as someone who has been taken to the cleaners by someone I love as has many on here I think you need to give your head a shake. The majority of condos in the Philippines you can buy outright yourself as long as the building has a 60/40 split with Filipinos owning the 60%. 

There's nothing to stop you from letting her live there for free just make up a lease for 10yrs at a time. I'm sure as she loves you she won't mind as once married it'll become matrimonial property anyway and she will have a legal claim to her share. Once married the lease cancels as you can't lease to a partner.

If she isn't happy with this arrangement run for the hills and thank whoever your god is that you had a lucky escape.

[bigpearl]

1 hour ago, Snowy79 said:

Hi Raj as has been highlighted it's your money to do as you wish but speaking as someone who has been taken to the cleaners by someone I love as has many on here I think you need to give your head a shake. The majority of condos in the Philippines you can buy outright yourself as long as the building has a 60/40 split with Filipinos owning the 60%. 

There's nothing to stop you from letting her live there for free just make up a lease for 10yrs at a time. I'm sure as she loves you she won't mind as once married it'll become matrimonial property anyway and she will have a legal claim to her share. Once married the lease cancels as you can't lease to a partner.

If she isn't happy with this arrangement run for the hills and thank whoever your god is that you had a lucky escape.

Heed wisely Raj, due diligence etc. Good thoughts and experience Snowy, that's why we are here. 

Or no lease just an available abode owned by Raj.

Cheers, Steve.

 

[JJReyes]

Don't be surprised if you meet your GF at the condo you purchased for her, there will be a whole bunch of people living there. This is known as the "extended family system" in the Philippines. 

As you purchasing the condo as a gift or because she needs a place to stay? Is she is a new GF or someone you have known at least for one year?

 

[scott h]

On ‎12‎/‎20‎/‎2017 at 6:44 AM, Raj said:

Will this create a tax liability for her?

She will have to pay property tax yearly. But this should not be a problem, even if the condo is in your name. I know from personal experience that as long as she has the deed and stuff she can pay the taxes at the town hall (I know because I pay all the taxes for relatives over seas lol)

[Mike J]

On 12/20/2017 at 10:44 PM, Raj said:

2. Will this create a tax liability for her? If so is there another way to buy the condo?

Another consideration is that there will be a monthly condo fee.  Usually they are based on the square meter floor area of the condo.