"The Anti-Dummy law" - Page 2

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"The Anti-Dummy law" - Page 2


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  #11 (permalink)  
Old 30th August 2020, 11:01 PM
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Originally Posted by Lunkan View Post
"The Anti-Dummy law"

I suppose no one bother if a foreigner give a SMALL start capital to his Filipina wife (although it isn't legal)
If they are married then everything the foreigner owns is technically the wife's as well. Nothing for them to give as the wife can just legally take it.
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Old 31st August 2020, 07:26 AM
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If they are married then everything the foreigner owns is technically the wife's as well. Nothing for them to give as the wife can just legally take it.
You can enter into a prenup and change the default of communal property but it has to be done before and in contemplation of marriage.

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Old 31st August 2020, 08:08 AM
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The anti dummy law is designed to close all the loopholes. If you are found to have used some special trick to get around ownership laws, for example putting the land in the name of a local who does not actually own the land, setting up a corporation in such a way that you get around the 60/40 ownership laws then all transactions are deemed to have not legally occurred
Yes. But not only concerning owning.
It's about the control power too. The crazy rather common ILLEGAL "solution" attorneys make is about control, and sometimes about kind of ownership too.

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Best to stick to doing all your transactions in ways that meet the spirit of the laws. Don't look for loopholes or the work around. Here the law has a lot more "flexibility" than in the west so keep it 100% clean legally.
That make it extra remarkable several Filipino attorneys make the illegal solution, which has no chance to manage a proper control...

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Originally Posted by Zep View Post
If they are married then everything the foreigner owns is technically the wife's as well.
Well. Kind of. In comments about the law it's talked about money obviously common from assets the foreigner had before the marriage. If such capital is used to finance a business in a higher percentage than foreigners can own ( =max 40 % for most types) then it's ILLEGAL if Filipina wife's name parts make the total over 40 %, because in business owning point of view foreigner + Filipina wife are counted as FOREIGNER. That article talked about businesses, but that make me believe same goes for land. If so land can't be in Filipina wife's name, that wouldn't solve the max ownership rule...

Some unclear things:
1. (When business) How about if 40% of cash money come from foreigner and 60 % is financed by BANK loan in Filipina wife's name? I GUESS not ok, but I hope ok
2. (When land). If the Filipina has land financed by herself BEFORE marriage and marry a foreigner. To be consistent that would become illegal to keep after marriage, but it isn't suprising if things in Phils aren't consistent I know a foreigner can even be at a title as "sideowner" to Filipina, or what to call it, SHOWING he own half, but the Filipina is in charge except both have agree to selling.

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Originally Posted by Zep View Post
Nothing for them to give as the wife can just legally take it.
No she canĘt take whole legaly when the foreigner stand as "sideowner" to a land. But she can sell if she stand as only owner to e g a car.
A friend of mine has a greedy wife, who left both him and their kids many years ago. Rather recently she contacted him because she had got a high offer from interested buyer and BOTH have to sign the selling documents for the land where he stand as"sideowner". So he will get half of the money of that land. He suppouse the greedy wife expect to get money from the biger land too, but she will not because that is in now grown up daughter's name... (The daughter is fair and my friend want that money to be split equal between the kids, so I suppouse that will happen.)

BUT Filipina girlfriends/wifes can take things easy if foreigner do as many scamed foreigners have done puting all in Filipina's name. That's why I talk about other LEGAL solutions as well as how NOT to do.

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Old 31st August 2020, 10:17 PM
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Originally Posted by Lunkan View Post
,,,,,,
BUT Filipina girlfriends/wifes can take things easy if foreigner do as many scamed foreigners have done puting all in Filipina's name. That's why I talk about other LEGAL solutions as well as how NOT to do.
All too often the legal principle in play here is who has the most money and the least influence, that party must pay.

Since rich foreigner is a redundant term in the minds of most Filipinos, and since we have no family connections or strong loyalty ties here we have zero influence.

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Old 1st September 2020, 06:40 AM
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Originally Posted by Manitoba View Post
Since rich foreigner is a redundant term in the minds of most Filipinos, and since we have no family connections or strong loyalty ties here we have zero influence.
Corect. But that's no reason to put things in Filipina gf's name so she can just take it legaly.
And as I wrote being on the land title as "sideowner" have stoped my friend's greedy ex* wife from selling the land his name is on too...

* They aren't divorced/annuled, but she left him and their kids over 20 years ago.

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Old 2nd September 2020, 11:11 AM
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Quote:
Originally Posted by Lunkan View Post
Corect. But that's no reason to put things in Filipina gf's name so she can just take it legaly.
And as I wrote being on the land title as "sideowner" have stoped my friend's greedy ex* wife from selling the land his name is on too...

* They aren't divorced/annuled, but she left him and their kids over 20 years ago.
Sometimes you have NO choice...it is a fact of law and there is NO way around it...a foreigner is NOT allowed to physically own land in the Philippines...so "IF" we buy any land, it MUST be in the name of a Philippine National!

A foreigner can own a house, a condo, a business, a car, a boat, a plane...we CAN own anything legally in our name in the Philippines...EXCEPT LAND...

ONLY PHILIPPINE NATIONALS CAN LEGALLY OWN ANY PART OF PHILIPPINE LAND...

So, if we are married and want to buy land and build a house, our wife is the best option...and if you end up splitting...then yes she has the land and anything on it...

The only other option is to have a Filipino friend or an attorney as your partner and put the land in their name but I would venture to say, I can trust my spouse a whole lot more than someone I was not in a relationship with...
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Old 2nd September 2020, 04:06 PM
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ONLY PHILIPPINE NATIONALS CAN LEGALLY OWN ANY PART OF PHILIPPINE LAND....
Well. Partly correct,
partly a common missunderstanding many believe and claim

1. In the "sideowner" case a Filipina have to be the main name, but the "sideowner" is that much owner so the other can't sell without the foreigner sign too. It's odd not every foreigner do at least this.

(2. Foreigners can become solo owner by inheritance, but only TEMPORARY to get time to change ownership.)

3. And the main difference from the wrong claim:
Foreigners CAN own land partly (=max 40%) through a company, which need land for the business.

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Old 2nd September 2020, 08:50 PM
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Originally Posted by Lunkan View Post
Well. Partly correct,
partly a common missunderstanding many believe and claim

1. In the "sideowner" case a Filipina have to be the main name, but the "sideowner" is that much owner so the other can't sell without the foreigner sign too. It's odd not every foreigner do at least this.

2. Foreigners can become solo owner by inheritance, but only TEMPORARY to get time to change ownership

3. And the main difference from the wrong claim:
Foreigners CAN own land partly (max 40%) through a company, which need land for the business.

And in ALL 3 of your examples...the FOREIGNER still DOES NOT own the land!!!

I am NOT a licensed practicing attorney here in the Philippines but this information was derived directly from my attorneys office which is one of the largest and most successful law firms in the Philippines, dealing specifically with land titling, with regards to this post:

Parlade Hildawa Parlade Eco & Panga Law Offices
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They state, so that any foreign nationals reading this post on this forum are not mis-informed:

#1 - side owner or "secondary" is only so the primary owner cannot "SELL" the land without your consent BUT the primary owner still owns it...NOT the foreigner...by Philippine law this clause only stipulates that you have a vested interest in the land, usually for financial considerations...NOT ownership!

#2 - It is not actually temporary ownership, it is actually temporary control for the sole purpose of transferring the ownership from the original owner to a new owner! In the case that your spouse dies and you are the so called "temporary", you are given an exact and specific amount of time to legally transfer that land ownership to another Filipino citizen OR risk losing the land altogether! The reason for this law...is once again because a Foreigner cannot own land here in the Philippines! Basically they are giving you the opportunity to choose who you want to be the owner of the said tract of land in question.

#3 - The reference you make to partial ownership is not ownership of the land! It applies to the ownership of a condo or a business of which a foreigner can own UP TO 40%...but the land is actually owned by the condo association or the business and NOT by any individual owners!

All 3 of these examples were answered directly by my attorneys office to shed legal light on this topic for any foreigners who might be mis-informed about these posts...

DO NOT BE FOOLED...you will ultimately lose any claims you "think" you might have if the case goes to court!

A FOREIGN NATIONAL CANNOT OWN ANY LAND, AT ANY TIME, FOR ANY PURPOSE OR REASON, ANY WHERE IN THE PHILIPPINES!!!
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Old 2nd September 2020, 09:05 PM
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We need to be extremely careful here with regards to posts made to various threads in this Forum and we should specifically state if something we post is simply our own personal opinion or something we just read on the internet or if it is true fact posted with references. And if read on the internet, we need to be reminded that ANYONE can put ANYTHING on the internet and experts have stated for years that nearly 80% of the information found on the internet is NOT true or correct or current due to fake information for monetary gains, or delays in updating websites or hacking, etc.

I would just caution everyone, please be safe, consult an attorney in all matters of legality and do not believe everything you read or hear...
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Old 2nd September 2020, 11:36 PM
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Originally Posted by Cebu Citizen View Post
....

#2 - It is not actually temporary ownership, it is actually temporary control for the sole purpose of transferring the ownership from the original owner to a new owner! In the case that your spouse dies and you are the so called "temporary", you are given an exact and specific amount of time to legally transfer that land ownership to another Filipino citizen OR risk losing the land altogether! The reason for this law...is once again because a Foreigner cannot own land here in the Philippines! Basically they are giving you the opportunity to choose who you want to be the owner of the said tract of land in question.
....
A FOREIGN NATIONAL CANNOT OWN ANY LAND, AT ANY TIME, FOR ANY PURPOSE OR REASON, ANY WHERE IN THE PHILIPPINES!!!
Any idea how long the foreigner is typically allowed temporary ownership? Does it vary depending on locatio0n, size of parcel or is it fixed?

The anti dummy law, is designed to close all loopholes that any foreigner and or local attorney may dream up. There are ways to have effective ownership and control and use over the land but a foreigner will never get absolute ownership of land.

If you take out a long term lease, good for 25 years with an renewal for another 25 years but hold a mortgage on the land, payable on end of lease, you will have effective control. The risk is that at the end of the lease, if the land is worth much more than the mortgage, that the owner can simply pay off the mortgage and have free ownership of the land. If the mortgage is more than the land is worth, you have the leverage to get another lease. ( Personal opinion, not from any legal advice, this may also be construed as violating the anti dummy laws so be careful.)

Personally at my age a 50 year control over the land is enough, If my grandchildren want to take out an SRRV and retire here in 2070, then they can make their own arrangements.
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