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.
