In the Philippines only Filipinos
can own land. Consequently it is almost impossible for
foreigners to own a house and lot. However, there are no
restrictions on condominiums or apartments. A foreigner buying a
condominium will receive a freehold deed of ownership, exactly
the same as a Filipino. There are no restrictions on you
occupying or renting. If you decide you wish to sell at some
time in the future you are free to export your money with no
restrictions.
A common problem with buying a
house and lot is where a Filipina is married to a foreigner and
the house and lot is bought in the Filipina wife's name. On the
death of the Filipina the property cannot pass to the husband,
as he is not a Filipino national, nor to any children they may
have that have foreign nationality, and the property has to pass
to Filipino relatives of the wife's family. This is not a
problem with condominiums, as they can be passed on to Non
Filipino nationals.
Another problem can arise with
house and lots where both husband and wife are Filipinos. If
they are working abroad and have children who gain citizenship
of another country, then these children are unable to inherit
the parents property in the Philippines. Here again, this
is not a problem with condominiums, as they can be passed on to
Non Filipino nationals.
