Boracay - Know if ever plan to buy land, invest,etc. - View Single Post
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Old 11th April 2018, 01:56 PM
Hey_Joe Hey_Joe is offline
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Users Flag! Originally from usa. Users Flag! Expat in philippines.
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Quote:
Originally Posted by Gary D View Post
Aren't all condos built on leasehold land, that's why foriegners can own one. They only own the building not the land it stands on.
Concerning this post, Filipinos, Foreigners, God, can not own land or Condos on Boracay. It's all a big scam, been that way for years.

I'm now considering returning and squatting on some land there.....LOL

In other areas, The Condominium Act applies

If one builds lets say a 20 story condo bldg. on leasehold land, and at year 2075 the land reverts back to the Title owner, and the owner of the bldg. has been selling perpetual condo ownership, that's a legal problem for the courts.

I would never buy a Condo in the PI.

Legitimate, Attorney researched titled land only.

https://www.lawphil.net/statutes/rep...4726_1966.html

https://www.google.com/search?source....0.k-fvxShiGYs

Last edited by Hey_Joe; 11th April 2018 at 02:02 PM.
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