Quote Originally Posted by stretch33 View Post
Hi, Thought l would add my two pence worth here and may help out. I had my house built in Davao, on a gated subdiv and opted to take out a 50 year lease through the developer /builder. The arrangement suited me just fine and all went thru very smoothly and all notorized and legal Ok its only for 50 years but at my age l will be pushing up daisies well before the expiry. The lease agreement also allows for my fiance to be added once we finally get hitched and then becomes jointly owned (60/40) I pay an annual lease fee of P3000. I spent ages going thru al the papers and have to say im satisfied with what l got. Its not a palace but its home.
Sounds like maybe a safer way of doing the same thing as I described in my earlier post. Does anyone know of any drawbacks with this sort of arrangement when it's done through a developer and properly notorized etc.
Iain.