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-   -   Boracay - Know if ever plan to buy land, invest,etc. (https://www.expatforum.com/expats/philippines-expat-forum/1426402-boracay-know-if-ever-plan-buy-land-invest-etc.html)

Gary D 11th April 2018 12:44 PM

Quote:

Originally Posted by Hey_Joe (Post 14289946)
Google Leasehold Land Philippines.

One can "Leasehold" land on Subic which is not really ownership. This dude claims it's ownership.

I wonder how many Expats fell into the trap of buying a Condo where the building was built on Leasehold Land. :lol:


https://www.youtube.com/watch?v=lqXPbeESkvQ

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.

Hey_Joe 11th April 2018 01:56 PM

Quote:

Originally Posted by Gary D (Post 14292938)
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


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