Hands up, I made a big mistake

[Gary D]

2 hours ago, Tommy T. said:

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?

I thought the rules of inheritance take precident over everything. I assume the owner in most cases is the wife. 

[Mike J]

22 minutes ago, Gary D said:

I thought the rules of inheritance take precident over everything. I assume the owner in most cases is the wife. 

You would definitely need legal advice.   As I read the below it would seem that you can do the donation during your lifetime with the condition that you retain the right to live in/on the property or control the property during your lifetime (art. 729)?  If you choose to go this route you would definitely need a rock solid contract and even then you could expect family to try and nullify the donation.

http://www.chanrobles.com/civilcodeofthephilippinesbook3.htm

<snip>

Title III. - DONATION
 
CHAPTER 1
NATURE OF DONATIONS

Art. 725. Donation is an act of liberality whereby a person disposes gratuitously of a thing or right in favor of another, who accepts it. (618a)
Art. 726. When a person gives to another a thing or right on account of the latter's merits or of the services rendered by him to the donor, provided they do not constitute a demandable debt, or when the gift imposes upon the donee a burden which is less than the value of the thing given, there is also a donation. (619)

Art. 727. Illegal or impossible conditions in simple and remuneratory donations shall be considered as not imposed. (n)

Art. 728. Donations which are to take effect upon the death of the donor partake of the nature of testamentary provisions, and shall be governed by the rules established in the Title on Succession. (620)

Art. 729. When the donor intends that the donation shall take effect during the lifetime of the donor, though the property shall not be delivered till after the donor's death, this shall be a donation inter vivos. The fruits of the property from the time of the acceptance of the donation, shall pertain to the donee, unless the donor provides otherwise. (n)

Art. 730. The fixing of an event or the imposition of a suspensive condition, which may take place beyond the natural expectation of life of the donor, does not destroy the nature of the act as a donation inter vivos, unless a contrary intention appears. (n)

Art. 731. When a person donates something, subject to the resolutory condition of the donor's survival, there is a donation inter vivos. (n)

Art. 732. Donations which are to take effect inter vivos shall be governed by the general provisions on contracts and obligations in all that is not determined in this Title. (621)

Art. 733. Donations with an onerous cause shall be governed by the rules on contracts and remuneratory donations by the provisions of the present Title as regards that portion which exceeds the value of the burden imposed. (622)

Art. 734. The donation is perfected from the moment the donor knows of the acceptance by the donee. (623)

<end snip>

[Tommy T.]

2 hours ago, Gary D said:

I thought the rules of inheritance take precident over everything. I assume the owner in most cases is the wife. 

My understanding comes from an attorney plus L and others I have spoken with are knowledgeable about it working as I described and Mike's research appears to confirm?

However, I should have also said in my earlier post that I am not a lawyer and just mentioned that item to make others aware of a possible way to alter direct inheritance issues. As Mike suggests...talk to a lawyer(s) is the best advice.

[JDDavao II]

On 2/14/2020 at 8:26 PM, stevewool said:

she insisted on wearing marigolds , May have to put some pin holes in them sooner then later.

Damn but I wish I knew what this meant! Sounds like a great saying!

[hk blues]

14 hours ago, usa32 said:

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.

I bought.

My wife is a Filipina and we have a son - we intend staying here for life.  I believe that buying a property was the best option as I have witnessed good friends here moving around from rental property to rental property - this house hopping is not for me.  I also believe that the house gives my wife and son some stability and security.  It also gives us the freedom to make the house a home and do what we wish with it.  I'd say those would equate to upsides to buying here, foreigner or otherwise. I DID NOT buy as any kind of investment - my place in the Philippines is not a place to invest in property in my opinion.  

To put it bluntly, I bought because I could afford to and it made sense for my circumstances.  Equally, I respect the decision of those who decide renting is the way ahead for them.  

 

 

[Balisidar]

6 hours ago, hk blues said:

I bought.

My wife is a Filipina and we have a son - we intend staying here for life.  I believe that buying a property was the best option as I have witnessed good friends here moving around from rental property to rental property - this house hopping is not for me.  I also believe that the house gives my wife and son some stability and security.  It also gives us the freedom to make the house a home and do what we wish with it.  I'd say those would equate to upsides to buying here, foreigner or otherwise. I DID NOT buy as any kind of investment - my place in the Philippines is not a place to invest in property in my opinion.  

To put it bluntly, I bought because I could afford to and it made sense for my circumstances.  Equally, I respect the decision of those who decide renting is the way ahead for them.  

 

 

I plan on buying also.  All my kids we made dual citizens so it just makes sense as all properties we own will go to them.  

As always...your own mileage may vary

[Kuya John]

12 hours ago, JDDavao said:

Damn but I wish I knew what this meant! Sounds like a great saying!

Wearing Marigolds has many uses

Washing your hands of it........... is to walk away!

Edited February 20, 2020 by Kuya John

[GeoffH]

20 hours ago, hk blues said:

I believe that buying a property was the best option as I have witnessed good friends here moving around from rental property to rental property

I looked for a decent quality rental house to the east side of CDO for about 12 months but couldn't find anything both in good enough condition and large enough.  We ended up renting a place but it wasn't big enough and the neighbours had barking dogs in cages on the street and there wasn't any driveway so the car was always on the street.

Then we were told about a house that was available for sale, I wasn't sure at first but after looking at it and realizing that the 2 1/2 story, 4 bedroom house with 2 CR and 2 kitchen was actually in my budget I decided to buy it.  I am much happier being there than I was in the long term rental, it is 'home' to me in a way that the rental never felt.

I've still got my home in Australia for when I'm there and enough money to live on so if the worst happens and it all goes pear shaped I've got a fall back.

I get that renting suits some people and that buying/building isn't for everyone but for me it works *shrug*

 

 

 

 

Edited February 21, 2020 by GeoffH

[stevewool]

On 2/20/2020 at 12:31 AM, usa32 said:

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.

 

There you have answered your own question .

[JDDavao II]

11 hours ago, Kuya John said:

Wearing Marigolds has many uses

Washing your hands of it........... is to walk away!

I knew 'washing your hands of it' but the 'Marigolds' threw me. Pinholes in Marigolds! Now I get it! Thanks!