Title deeds, property deeds

[Marvin Boggs]

I'll add a general observation about Filipinos and loan payments.  Our neighbor is a foreigner, whose business is loaning money.  We get to watch his customers come and go, and overhear the various conversations (including those with the landlord).  Wife says Filipinos taking a loan or making payments consider themselves 'friends', which explains why they are sitting around laughing and eating food for two hours while conducting their business.  

The rub is, Filipinos will most always be the victim of circumstance, and ergo are going to be late with the payment.  As 'friends' there is always some latitude given, and that is when the friction starts.  When a late payment is finally paid, it may only be a half payment.  If collateral is taken for the loan, then you can expect it is used as reverse leverage (you have my tricycle, so I couldn't earn money to pay you).  Filipinos will look for some kind of dissatisfaction in the deal or service rendered, as justification for why not to pay.  It must be maddening, and I have more of an insight now into the drive by motorcycle shootings.  

Your situation sounds like a real can of worms.  On the one hand, you have a chance to keep the family lands from getting split into pieces after Papa's death.  On the other hand you can expect bad feelings somewhere, someone felt cheated, someone wants to sell out, etc.  FYI you can create a land investment corporation with your wife as 51% partner.  If you decide to stay out of it, my advice would be that you BOTH stay out of it.

 

[Mick]

When my wife's farther died, he left a house..... Worthless, on a nice piece of nice land in Antipolo, she had 3 brothers. We told them we wanted the land, they agreed, but wanted market price,..... Not the local government price.... This is very important to remember, so we arranged a valuation, land came back at $25,000, so my wife Informed them as I'm her husband, I'm also entitled to a share, so split is 5 ways, they agreed, paid the 3 brothers 5000 bucks each, good lawyer, all paperwork done and signed off by family, local government, housing association etc, and no issues. In fact I split the land, sold half, have a rental on the other half, So it can be done, but don't try to save money on a cheap lawyer. 

[scott h]

OBSERVATION:::::::::::::::::::Most of us came here for peace and quite.

Recommendation::::::::Have you wife sign over all rights to the property, sit back, open a beer and watch the show with a smile on your face   and enjoy the peace and quite of retired life...….you deserve it 

[hk blues]

2 hours ago, scott h said:

OBSERVATION:::::::::::::::::::Most of us came here for peace and quite.

Recommendation::::::::Have you wife sign over all rights to the property, sit back, open a beer and watch the show with a smile on your face   and enjoy the peace and quite of retired life...….you deserve it 

scott h has hit it out of the park with the above post!

[stevewool]

Well thanks everyone for lots of great advice, you think you are doing a good deal to help someone’s future, but like you say you may help one but you cannot help everyone, plus more news coming my way of how some members are treating people, let them wallow in there own jealousy. 

[Jack Peterson]

6 minutes ago, stevewool said:

let them wallow in there own jealousy. 

[stevewool]

10 minutes ago, Jack Peterson said:

A up stranger, 

[Jack Peterson]

2 hours ago, stevewool said:

A up stranger, 

  Such is life