Boracay closure

[Tukaram (Tim)]

28 minutes ago, Snowy79 said:

I've been keeping a keen eye on the proceedings going on in Boracay and if some of the reports coming out of government offices are to believed it could be the largest government land grab in a while.

Yep, I have 2 expat friends that own there... they both say that there is no plan in place for repairs.  The closure is coming, but no one knows what is going on (no surprise there).  The island is beautiful so the tourists will most likely come back - but after all the bankruptcies - who will own it?

[Clermont]

From what I understand of land laws in the PI's, Foreigners never owned the land in the first place. 60/40 split is the best they ever owned unless under a lease agreement, then by law they do still have entitlement over their lease, that can't be taken from them without an act of parliament.

If the wife owned the land, and a foreigner built the dwelling, they still don't own it. So anyone caught up in the situation on Boracay or any other part of the PI's, my suggestion, plenty of cuddles and kisses and keep the blinkers on so the eyes don't stray to forage on greener pastures. 

[Dave Hounddriver]

21 minutes ago, Clermont said:

they do still have entitlement over their lease, that can't be taken from them without an act of parliament.

I will not say you are wrong, legally.

I will say there are some expats who were in a similar situation, trusted the law, and are now "dead right".

I also know of some who accepted the governor, president or some other "higher power" saying the zoning had changed for their leased area so the lease was getting cancelled and they would have to move their structures.

Undoubtedly there are many expats in the situation where everything works as it should and there are no problems.  They usually keep their head down and enjoy it so we don't hear much from that bunch.

[Clermont]

3 minutes ago, Dave Hounddriver said:

I will not say you are wrong, legally.

As I said, it will take an act of parliament, then the bum fight begins, compensation. You honestly don't believe if they own structors there, there won't be a legal fight and knowing the PI's, by the time it gets through court, most owners will be pushing daisies. It's called class action, and once that starts, being dead wrong/right makes no difference, it will all settle back down, but a lot more expensive to visit. 

[Dave Hounddriver]

3 minutes ago, Clermont said:

a legal fight

The problem with Duterte, is he threatens to arrest anyone who starts legal action against him. He just might do it to.  (Off topic example click here)

[Clermont]

4 minutes ago, Dave Hounddriver said:

The problem with Duterte, is he threatens to arrest anyone who starts legal action against him. He just might do it to.  (Off topic example click here)

Yes Dave that was another matter, he also assured the ICC that due legal rights would be maintained.

[RBM]

This should really be an example to us just how fragile all our investments are here. We always tend to read about the wife or GF doing what ever, or family issues. Sadly its much more wide spread than the obvious.

As the words of wisdom goes..never have more than 30% of your total assets here.  

[Snowy79]

It's certainly going to open a can of worms as there's major resorts with titles issed to them that are open to interpretation as to being legal. Just because it was issued by a Government body with responsibilities for titling just doesn't mean it's legal in the Government's eyes. 

In short companies with clout may have had people with brown envelopes stuffed with cash lubricating those making decisions to get titles. Others have since bought condos in good faith and could now lose everything. I wonder where they stand as far as compensation goes.

Edited April 14, 2018 by Snowy79

[robert k]

58 minutes ago, Snowy79 said:

It's certainly going to open a can of worms as there's manor resorts with titles issed to them that are open to interpretation as to being legal. Just because it was issued by a Government body with responsibilities for titling just doesn't mean it's legal in the Government's eyes. 

In short companies with clout may have had people with brown envelopes stuffed with cash lubricating those making decisions to get titles. Others have since bought condos in good faith and could now lose everything. I wonder where they stand as far as compensation goes.

Part of the reason I don't want to own anything but chattel in the Philippines. I don't think my chances are as good as a National and even if I were a National, I'd be thinking of buying property overseas.

[RBM]

Robert perhaps your just a tad to negative here. Have never  seen stats, doubt they ever exist, on foreigners loosing homes here.  Knowing many people here whom invested in property very few have lost everything.

As been discussed many times there is limited protection one can do when paying for land, for those dumb enough to marry and  trust some little floozy we'll it's just  caveat emptor.

Boracay is a one off, I mean who would of invested knowing the risks, normally if one has a title it's considered safe. Let's hope some form of justice will come out of it although knowing the country a little it's doubtful.