Curley Posted February 12, 2012 Posted February 12, 2012 We all know that foreigners cannot own land here and most of us are loath to buy and put it in the wife's name in case the marriage goes t*t* up. i'd like members reaction to my thoughts.I cannot find a decent house or at least a house to the standard that I would like to live in that's available to rent so i'm looking at this plan.To buy a house in the future wife's name (once we're married) and then lease it back from her at a reasonable rent (all legally tied up) the idea being that if ever we fell out I would still be able to live in my house albeit paying "rent". While we're still together she would use the rent as her "allowance" to spend as she wishes for family/birthdays/personal etc. This way I would at least fix my costs and if we fell out I would not completely lose my home.Can a lease like this be revoked? I'm assuming that if it were done at a peppercorn rent there would be a chance that it could be. Any other holes in my idea? Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted February 13, 2012 Posted February 13, 2012 A lease from a legal wife is an illegal lease. I know a guy going through that now. If there is any chance your wife is out to scam you then do not buy property under any kind of arrangement. 2 Link to comment Share on other sites More sharing options...
Jim Sibbick Posted February 13, 2012 Posted February 13, 2012 A lease from a legal wife is an illegal lease. I know a guy going through that now. If there is any chance your wife is out to scam you then do not buy property under any kind of arrangement.My thoughts are the same. I have nothing I can point you to so you can verify but I was told years ago you can't lease from your wife.Regards: Jim Link to comment Share on other sites More sharing options...
i am bob Posted February 13, 2012 Posted February 13, 2012 I think, due to the legal implications, consulting a lawyer is probably the best answer to this one. 1 Link to comment Share on other sites More sharing options...
ironmaiden Posted February 13, 2012 Posted February 13, 2012 You can go to a lawyer and make an irrevocable special power of attorney ( SPA) where your wife signs that you can sell the property without needing her signature. This spa then has to be annotated to the title. This paper also gives you the right to keep the original title with you, and without the original copy of the title she can't sell the property. Of course, you should keep it somewhere she can't get to it...The house can be in your name, just make sure you use your name when you apply for the building permit. This way, I see no reason why you would not be able to live there as long as you want... Link to comment Share on other sites More sharing options...
Steve & Myrlita Posted February 13, 2012 Posted February 13, 2012 Sorry, but under the Philippine Family Code, a husband and wife are considered for financial purposes as one entity thus it is not legally enforcible to rent or lease from your wife as the law sees that as the same as renting or leasing from yourself. 3 Link to comment Share on other sites More sharing options...
Bruce Posted February 13, 2012 Posted February 13, 2012 Are you going to have kids with her?? Perhaps a 50 yr lease from the current owner is an option. In your name. Check about the tax payments and other maintenance issues and even a lease to own option that if you split, you simply turn back the property to the listed owner.In the US, the term used is 'bullet proof'. Which is the art of making trusts, corporations and LLCs own everything and you own nothing. You CAN have a corporation in Phils with apresigned stock sale certificates so the Pinoy members of the corporation have no control.Remember.... like I said in a past post that upset some members.... YOU are a small fish in the sea compared to the big boys in from Korea, Japan and China who as foreigners (like us) want to invest millions of $$$ (not like us) and want to be protected. No need to reinvent the wheel. Go to the high priced attorney who make a good living setting up foreigners to own things here.....Assuming you are marrying a simple woman she and her family will not have the money contest tings in the future.As I always do... here is the legal disclaimer **** RENT or LEASE ====== DO NOT BUY***** (I mean DON'T get married... no need to for many years until you are positive and want to set up the Mrs with your SS or DOLE check after you have passed your expiry date). 1 Link to comment Share on other sites More sharing options...
Call me bubba Posted February 13, 2012 Posted February 13, 2012 Sorry, but under the Philippine Family Code, a husband and wife are considered for financial purposes as one entity thus it is not legally enforcible to rent or lease from your wife as the law sees that as the same as renting or leasing from yourself.So the PRE NUPITAL agreement doesnt work or apply in this case? humm guess the rules/laws have changed recently,Thanks Steve for the info, 1 Link to comment Share on other sites More sharing options...
Steve & Myrlita Posted February 13, 2012 Posted February 13, 2012 Sorry, but under the Philippine Family Code, a husband and wife are considered for financial purposes as one entity thus it is not legally enforcible to rent or lease from your wife as the law sees that as the same as renting or leasing from yourself.So the PRE NUPITAL agreement doesnt work or apply in this case? humm guess the rules/laws have changed recently,Thanks Steve for the info,I believe it has more to do with enforcement of Anti-Dummy Laws. Link to comment Share on other sites More sharing options...
Tatoosh Posted February 13, 2012 Posted February 13, 2012 (edited) Buy the land in her name, providing you trust her. If you are wrong about her, chalk it up to lesson learned. If you are right about her loving you, then all's well. You can own the house. Just not the land. So build the house in your name. If she wants to take the place from you, demolish the house. If she sees a big part of its value about to disappear legally, she may have second thoughts.All this is simply conjecture, since the price of land may be much higher than the structure. You could look at a removable (or moveable) structure that you could move if things went too far south for you. There have been some very innovative designs using steel containers like those used for container ships. Put 4 of those together, cutting doorways and adding stairs as necessary, and you have a pretty substantial little dwelling that can be disassembled and moved if necessary.http://dornob.com/diy-used-cargo-homes-shipping-container-house-plans/Shipping containers are pretty cheap used, in the $1200 to $1500 US figure. Lots of plans for DIY conversion to housing already exist. So four 40' containers would set you back $6000 or less maybe. A welder, some fabrication, a good foundation of course, and due to the ease that steel transfers heat, some insulation and you are set. http://en.wikipedia.org/wiki/Shipping_container_architectureIn case of a big fight and/or irreparable differences , just cut the connecting bolts and welds, design the electrical and plumbing to allow it to be severed at each container, and rent a truck and trailer. "Okay Mama, the land is yours but say bye bye to the house!" Edited February 13, 2012 by Tatoosh Link to comment Share on other sites More sharing options...
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