hi im new here
maybe this advice may help
i have just taken the risk of funding a property just outside olongapo city in philippines a big risk as it is common for girls there to do this with foriegners to then take the lot as you have no legal ownership even if you marry there its not much differant really always a risk i do not know about lease deals but bits i do know from experience there are many things you can do to give a little safe gaurd
my girlfriend/fiancee insisted at the local attornys office that dealt with the sale draw up papers to insist that i had a claim to the propertys value not the property or more importantly the land
it basically says that if we break up i can authorise its sale in real terms i dont really know how it would stand up
but the attorny did advise my girl not to do this because she could stand to have no claim all quite bizarre so its a suggestion id be interested to know how you fair
also my girl had all sorts of checks done through a local goverment employee{friend to see if any debt was attatched to the property as houses often get additional loans taken against them often lease schemes for reasonable fees to be repaid after say a yr or two but often this is not repaid then you can stake a claim then often to find other huge debts linked to it
all very bizarre and care needs to be taken
lucky that no debts were revealed
but we did get a shock when the local water company presented us with a bill but with debt from previous months outstanding
the electric company revealed the same kind of issue when they turned up to cut off the electric
so unless the previous owner clears the debt the only other way is to buy a new meter in her name cost 3,000 peso
could that happen here i really dont think so
this is ongoing my advice be very carefull
id also be very interested in banking there for the future regards mark
