Advice on buying a condo for my GF

[Gary D]

And what is to stop her from selling it again a few month down the line.

[Jollygoodfellow]

1 hour ago, Gary D said:

And what is to stop her from selling it again a few month down the line.

Nothing but we all know that relationships and trust last forever. 

[Old55]

After posting his first question, Jaj has not returned........ 

[Mike J]

7 hours ago, Old55 said:

After posting his first question, Jaj has not returned.

Perhaps that is because many of the replies seemed to not answer his questions.  Instead they tried to caution him about the wisdom of buying a condo for his girlfriend.  I think we are all aware of the potential for being taken advantage of and would hate to see it happen to anyone.  That being said, did we "as a group" try to answer the questions asked by the poster.  Some replies did try to answer the questions in a factual manner, but the general bias of the responses seemed to be "this is not really a good idea".  In looking at my own previous post I realize that I did not, instead I just advised him of another potential problem.  My bad and my apologies to Raj if he is still following this thread.

[Raj]

Thank you gents one and all. Have been on the road ( skies) and then SG Xmas. I understand the risk.  Just want to be sure she doesnt have a tax liability in terms of the BIR hassling her for capital gains or something ( she does pay tax). Still welcome suggestions for a good real estate lawyer who can handle the paperwork. 

Its been really nice getting all this earnest advice. Thanks again

[Dave Hounddriver]

6 hours ago, Raj said:

Just want to be sure she doesnt have a tax liability in terms of the BIR hassling her for capital gains or something ( she does pay tax).

I am surprised that some or our accountant members have not addressed that issue.

I remember reading (somewhere long ago and not to be found again) that gifts to a gf are taxable above a certain amount.  It would be worth your while to either talk to a tax accountant, or let her worry about it as it is her money after you gift it, or just loan her the money in the form of a mortgage so it is not taxable, or you can continue to take advice from us 

[Clermont]

Dave you are on the right track, if the OP is going to fork out for a condo, personally I'd lend her the money with the blessings of a legal document prepared by a cheap solicitor. No gift tax and no chance of getting it back if something goes wrong. 

[bows00]

Either Raj has very little experience with Filipina's or he is super loaded - buying a condo may be equivalent to an average expat buying a biscuit.