B-Ray,

Thanks for your excellent post. Carol and I are buying a house here in
Iloilo. I have wracked my brain on the title issue, not because I don’t
trust my wife, I do, 200%, but because we don’t have kids and in the
unlikely event she predeceases me, 50% or 100% of the property will go to
her family - depending on whose ideas of "hereditary succession" you
accept. I had toyed with the idea of separate ownership of the lot (my
wife) and the house (me). As you point out, this is totally unrealistic.
All of the various schemes to give the foreign husband ownership are just
convoluted wishful thinking. We will title the property to my wife and her
foreign husband and let it go at that. If Carol predeceases me, I will try
to work with her family to allow me to continue to live in the house, a
house which they will eventually inherit in any case.

Bob Hammerslag
Iloilo City

On 2/29/08, alsobray <alsobray@yahoo.com.ph> wrote:
>
> The flip side to that coin is, if she trust you from dumping her and
> stuck with payments she can’t pay. And if she is credit worthy in
> getting a standard interest loan. Who will put up the down payment
> and fee money if your only paying the monthly payments as rent?
>
> Then, there’s the guy in total control of the relationship. Do what
> I say, when I say and how I say or I’m out of here and she’s stuck
> jumping through hoops. There’s just to many guys that would love to
> have that kind of control, PERIOD!!
>
> Another way would be to buy a 20%, (if you can still find them), 5
> year CD at half the loan price and let it make the interest payments
> direct to the loan plus the balance at the end. Then your only out
> half the money out of pocket if you bail and she still gets her
> house paid for. BTW, a pre-nup only protects what’s left after you
> buy the property. If a house is already on the land, you can not
> seperate the two as the title goes! My wife wanted that, she owns
> the land and I own the house, and found out it couldn’t be done.
>
> It’s one thing in being purdent and a person needs to look out for
> their best interest and another in planning for failer from the get-
> go. It doesn’t matter what words or terms used to justify such a
> plan. Plan to fail and it will, count on it!!
>
> If a person is in that state of mind, then it’s best for them to not
> get involved in such a situation. Or never own anything and rent a
> furnished place to live.
>
> QOUTE: "You may get a stipend for the
> > bricks and
> > > mortar if fortune smiles upon you, but don’t count on that
> ether."
>
> That is, if she doesn’t block you from setting foot on the property
> to gather up, (ya right), that brick and mortar that you paid for.
> ~grin~
> B-Ray
>
>
>
>
>

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