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Forigner funding land purchase

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1 Forigner funding land purchase on Sat Dec 13, 2014 3:36 am

Rob Hays

Arresto Menor
My son and I are US, my wife Filipina. My son wants to loan my wife the $ to buy property as an investment. The property would be in her name. The problem: My wife’s son (my stepson) is not trustworthy. If my wife and I both die he will definitely try to take the property. How do we safeguard my son’s investment?

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2 Re: Forigner funding land purchase on Wed Dec 17, 2014 10:45 am

tsi ming choi

Reclusion Perpetua
Assuming that you were legally married with filipina spouse and thereafter she died or both of you died, the invested property shall be co-owned by your son and your wife's son. YOur wife's son, cannot inherit the whole property because of the presence of his stepbrother, unless the former will renounce his proportionate share of the property in favor to your son. Keep in mind that foreigners are prohibited to buy real property in the philippines, but they are qualified to acquire through hereditary succession.

At the very least, your son still considered as co-owner of his invested property.

To safeguard your son's investment relative to FULL ownership, better not to invest at all.

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