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.
