Buying land

[Snowy79]

3 hours ago, Dave Hounddriver said:

There is some truth in that and its got me thinking of looking for a wife on the terminal cancer ward of the hospital, paying for her palliative care, and buying her a house.  Be sure she has no kids though.    (I mean as long as we are looking at long shots we may as well consider this one  )

I'm sure one will appear that she forgot to tell you about.

[Gary D]

And make sure to treat the dogs, cats and chickens well as they will also be ahead of you in line.

True you can own a condo but that is no different to owning the house but not the land.

[robert k]

19 minutes ago, Gary D said:

And make sure to treat the dogs, cats and chickens well as they will also be ahead of you in line.

True you can own a condo but that is no different to owning the house but not the land.

I would say there is a good amount of difference in owning a structure on your wife or partners land and owning a condo. It would be tough to sell the house against the wife/partner's will because it is on their land. I doubt the condo corporation cares what you do with the condo as long as the dues are paid.

[Jack Peterson]

1 hour ago, robert k said:

I doubt the condo corporation cares what you do with the condo as long as the dues are paid.

The only and main problem there is if this sale takes the ownership beyond the 60 40% issue. ( The condo's must be 60% Filipino owned) 

[Gary D]

2 hours ago, Jack Peterson said:

The only and main problem there is if this sale takes the ownership beyond the 60 40% issue. ( The condo's must be 60% Filipino owned) 

Also if the 60% decide to put the block down you have no say in it.

[robert k]

7 hours ago, Jack Peterson said:

The only and main problem there is if this sale takes the ownership beyond the 60 40% issue. ( The condo's must be 60% Filipino owned) 

If the foreigner sells to another foreigner? The percentage wouldn't change?

[robert k]

7 hours ago, Gary D said:

Also if the 60% decide to put the block down you have no say in it.

Care to elaborate? I'd like to be sure I understand what you are saying. Do you mean block the sale?

[Jack Peterson]

4 hours ago, robert k said:

If the foreigner sells to another foreigner? The percentage wouldn't change?

[sigh]

[Dave Hounddriver]

5 hours ago, robert k said:

Care to elaborate? I'd like to be sure I understand what you are saying. Do you mean block the sale?

Every building, and especially a block of condos, has an estimated life span. It may be arrived at early in the case of fire, earthquake, typhoon, war or other disaster.

When that block of condos reaches the point were the condo association decides to tear down the building and sell the land, (or whatever), who gets to make that decision?  With only 40% foreign ownership and foreigners unable to take on the job of CEO of the condo association I doubt it will be the foreigner who makes that decision, even though it may be all the foreigners who have invested the most in their individual units.

I am sure if the condo association decides the block of condos needs to be demolished that there are certain legal avenues for the condo owners and I am convinced the condo owners will get some compensation, but I am also convinced that eventually the foreigners will get the shitty end of the stick.

[robert k]

6 hours ago, Dave Hounddriver said:

Every building, and especially a block of condos, has an estimated life span. It may be arrived at early in the case of fire, earthquake, typhoon, war or other disaster.

When that block of condos reaches the point were the condo association decides to tear down the building and sell the land, (or whatever), who gets to make that decision?  With only 40% foreign ownership and foreigners unable to take on the job of CEO of the condo association I doubt it will be the foreigner who makes that decision, even though it may be all the foreigners who have invested the most in their individual units.

I am sure if the condo association decides the block of condos needs to be demolished that there are certain legal avenues for the condo owners and I am convinced the condo owners will get some compensation, but I am also convinced that eventually the foreigners will get the shitty end of the stick.

Sounds like it isn't as likely as an ex wanting to punish you after a break. I also think if someone buys into a hellhole condo that is likely to be torn down that they didn't do their due diligence. As for fire? I would think insurance would cover that? I don't know where to buy coverage against a vindictive ex.