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Tax Declared property

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1 Tax Declared property on Mon May 02, 2016 3:50 pm

Valentyna


Arresto Menor
Hello everybody,
Me and my husband are Italians and we would like to buy (under the corporation with filipino partners) a land in Philippines and build a small resort on it. We found a very interesting plot, seems ideal for us, the only one thing which makes us worry is that plot has not been released for title yet and it is tax declared only. Instead of a title for land we would receive a waiver of rights/extra judicial with settlement.

Can someone advice us how safe would be buying a property without title? I know that it is risky enough, I just want to understand what may happen in the worst case. How many possibilities we have to obtain title in the future? Can government kick us out? Can we start construction before obtaining the title?

Thank you very much in advance.

Any comments will be very appreciated

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2 Re: Tax Declared property on Mon May 02, 2016 4:59 pm

de_facto


Arresto Menor
Hello. buying land without title can be risky. Be that as it may, the property is still registrable provided that the tax declaration is legit and that you do a background check on the owner/s. I might be able to help you. Send me an e-mail at lmrl.legal@gmail.com

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