Hands up, I made a big mistake

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graham59
Posted
Posted

I have invested only enough that I'd be able to walk (or be carried) away from. 

If the Mrs has got bigger ideas, she can pay for them with her own funds (ie...get a job). 

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GeoffH
Posted
Posted
13 minutes ago, manofthecoldland said:

If your wife paid for the property and put it in her parents' name, it is their's.

True and the estate laws are... complicated.

https://www.plazolaw.com/civil-law/order-of-succession-dividing-the-estate-among-heirs/

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stevewool
Posted
Posted
3 hours ago, manofthecoldland said:

 

Maybe the two of you will just wash your hands clean and walk away from the matter...... off to a better place and simpler life.

 

My hands are washed , just trying to wash Emma’s but she insisted on wearing marigolds , May have to put some pin holes in them sooner then later.

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usa32
Posted
Posted

Why do expats buy anything in the philippines other than a red horse?

Point being, i have only visited once, but there is no way in heck, I would build or buy a house there.

If I was a dieing  man, and had a good girl that was loyal for several years, then maybe, just so she had a place to stay.

But other than that, you rent there, don't buy. There is no upside to a foreigner buying there, Especially with the way property laws are there.

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Joey G
Posted
Posted
On 2/14/2020 at 4:13 AM, GeoffH said:

Nice link... and if it was this "simple", it would almost be manageable... but it's compounded by compulsory heirs never consolidating... and an exponential increase in compulsory heirs to the estate as each generation passes.   

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Old55
Posted
Posted
1 hour ago, Joey G said:

Nice link... and if it was this "simple", it would almost be manageable... but it's compounded by compulsory heirs never consolidating... and an exponential increase in compulsory heirs to the estate as each generation passes.   

It would be helpful for all future "buying home-property" questions we include Joey's statement with the link Geoff provided.

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Guy F.
Posted
Posted (edited)
On 2/13/2020 at 3:24 AM, Old55 said:

Sorry it came to this Steve. Good thing is you both did try and there are no serious bad feelings. You can move on literally with your lives in a new location but still visit loved ones. Much easier to love from a distance. Two Island Rule? :whistling:

I adhere to the Three Island Rule. We are on one island, they are on another island and there is a third island between the first two. With that much distance the risk of overnight visits is increased, but in my case those have been rare.

It could also be called the Two Province Rule.

Edited by Guy F.
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GeoffH
Posted
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3 hours ago, Old55 said:

It would be helpful for all future "buying home-property" questions we include Joey's statement with the link Geoff provided.

I have no idea how to do that... :89:

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Tommy T.
Posted
Posted
On 2/14/2020 at 4:54 PM, manofthecoldland said:

If your wife paid for the property and put it in her parents' name, it is their's. You are acutely aware of the Inheritance laws and what will eventually transpire. She is in denial or over estimating the moral civility of the other family inheritors. Despite the fact that it was her filial generosity that provided her father with decent housing in his later years, they will see it as having been her duty since she was the 'lucky one', who got to emigrate and gain the wealth for it. 

 

There is a bit of a work around regarding ownership.

It's called a Deed of Donation. It is a form that can be created, signed by the owner(s) of record and dated. It provides that - depending on the terms included in the specific document - upon the mental disability or death of the owner(s), the property will be gifted or donated to whomever they name in the document. If it is used, then there is tax involved. If it is used after a number of years, the tax adds up. So the thing to do is consider updating a new one annually with the then current date.

From what I read in Steve's posts, it would seem best - if they go this route - to keep it secret and not on the actual premises, but somewhere secure. Of course, at the time it did take effect I could imagine an inter-family war breaking out between the giftee and the rest of the family - almost any family here, not just Steve's wife's clan?

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