Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu

[Raymond Ong]

Dear Member

Please check this link http://www.cebuhome.net/mazaricove.pdf or visit
my website at http://www.cebuhome.net/mazaricove/mazaricove.html for
more information. It is a home by the sea in the resort. You will enjoy
resort wellness living everyday. For more assistance, please do not
hesitate to contact me.

Take your time and thank you for your kind attention.

Best regards

Raymond Ong
Global Investment Director (Certified On Line)
Land Asia Global Properties Network,
Chief - Land Asia Institute Philippines,
Land Asia Realty& Development Corp.,
Real Estate License #2008-S-4-1122 (N)
HLURB Control # VII-00101-2008
Broker: Marissa S. Inting REB LIC#2007-1122(R)
Unit 4, G/F., Geson Bldg.
D. Jakosalem St., Cebu City 6000,
Cebu, Philippines
24/7 Hotline No.+6332-5158989
24/7 Mobile No.+63920-2666080
Tel. No.+6332-254049
Fax No.+6332-2546073
Talisay Info Center:
Tel./Fax No.+6332-5115882
Email: ray...@cebuhome.net
raymo...@landasia.com.ph
8ray...@gmail.com
raymo...@yahoo.com
raymon...@hotmail.com
Skype: raymond-8888
Website: http://www.cebuhome.net

Want to know more about me?
Please check here http://www.cebuhome.net/raymond_ong/raymond_ong.html

For your own protection, please always consult accredited real estate Salesperson or broker only for your real estate needs.

[bernardo lameiras]

"DEAR MANAGER
I AM A FOREIGNER, PLS TELL ME IF CAN BUY TIYARA CASITA HOUSE?( NAGA CITY) OR FIRST I HAVE TO APLLY FOR SPECIAL RESIDENT RETIREE'S AT PHILIPPINES RETIREMENT AUTHORITY. PLS TELL ME HOW MUCH IT WILL COST AND WHEN IS READY? OR SEND ME MORE INFORMATION ABOUT THE TIYARA CASITA.
BEST REGARDS
MR. BERNARDO from Macau.





 
> Date: Mon, 9 Aug 2010 10:02:13 +0800
> From: 8ray...@gmail.com
> To: cebu...@googlegroups.com
> Subject: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu

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[May Aguilar]

Hi Ray,

Kindly inform Mr. Bernardo that foreigners cannot own lands in their names (something which I am sure you already know).  He will need a lawyer to explain to him different legal options available for him. 

Regards.

May

 

MAY S. AGUILAR
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089

http://philippineslawyer.wetpaint.com/

****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged.  It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.

Thank you very much.

****************************************************************

---

From: bernardo lameiras <berna...@hotmail.com>
To: cebu...@googlegroups.com
Sent: Monday, August 9, 2010 5:36:12 PM
Subject: RE: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu

[Raymond Ong]

Dear Atty. May

Thank you for your advice. It is true that foreigners cannot own lands in their names, however since the Tiyara Casita House model is under Condominium Certificate of Title (CCT), therefore, foreigners can own it.

I am looking forward to meet you again in the near future. Keep in touch.

Best regards

Raymond Ong
Global Investment Director (Certified On Line)
Land Asia Global Properties Network,
Chief - Land Asia Institute Philippines,
Land Asia Realty & Development Corp.,
Real Estate License #2008-S-4-1122 (N)
HLURB Control # VII-00101-2008
Broker: Marissa S. Inting REB LIC#2007-1122(R)
Unit 4, G/F., Geson Bldg.
D. Jakosalem St., Cebu City 6000,
Cebu, Philippines
24/7 Hotline No.+6332-5158989

24/7 Mobile No.+63920-2666080
Tel. No.+6332-254049
Fax No.+6332-2546073
Talisay Info Center:
Tel./Fax No.+6332-5115882
Email: ray...@cebuhome.net
          raymo...@landasia.com.ph
          8ray...@gmail.com
          raymo...@yahoo.com
          raymon...@hotmail.com
Skype: raymond-8888
Website: http://www.cebuhome.net

Want to know more about me?
Please check here http://www.cebuhome.net/raymond_ong/raymond_ong.html

For your own protection, please always consult accredited real estate Salesperson or broker only for your real estate needs.

[May Aguilar]

Aha!  That's what I get for not reading the flyer.  LOL!  Thanks for the clarification.  Yes, I do look forward to seeing you again.  If you have time, drop by the office.  The address is written below.

Best personal regards, as always.

May

 

MAY S. AGUILAR
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089

http://philippineslawyer.wetpaint.com/

****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged.  It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.

Thank you very much.

****************************************************************

---

From: Raymond Ong <8ray...@gmail.com>
To: cebu...@googlegroups.com
Sent: Tuesday, August 10, 2010 8:16:34 PM
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu

[Raymond Ong]

Dear Atty. May

Thank you for your prompt reply and certainly will drop by your office whenever able. See you soon.

[dsb 1958]

Gents,
I am an Englishman registered with Cebuhomegroups.
I have looked at the Model houses in Mazari Cove, are there
any detached models under 4M pesos?
I have a filipino friend Alfred who works in the Government officein Naga, When I was there 2 years ago I told him I was looking to buy a property, but he didnot mention Mazari, is this a new project.
Regarding ownership of house and lot in Philippines, it would be appreciated by foreigners like me if it was made clearer that we could own the property outright, indeed this would prove to be a good selling point.
As I understand it and Raymond will obviously correct me if I'm wrong.
I as an Englishman (foreigner - although Balik Bayan), cannot own a house and lot, but I can own a Condo Unit.
I could however, If my wife is Filipina by 60% and place it in my spouses name (or family member), and I could set up a partnership with a family member and own up to 40% of the property myself.
Is this true or have I been drinking to much Red Horse  LOL.

My dream is to retire in Cebu and carry out some charity work with orphaned kids or something,but while the pesos is 70 to the £ (it was 100 pesos 2 years ago) I will wait.
Maybe I can ask you information regarding settlement visa etc nearer the time.

Salamat,

Declan

---

From: Raymond Ong <8ray...@gmail.com>
To: cebu...@googlegroups.com

Sent: Tue, 10 August, 2010 13:35:35

[Raymond Ong]

Dear Declan

Thank you for your interest in the subject property. I am glad to inform you that the Mazari Cove is a new project just launched last month. With all the four house models available for your choice, only the single detached Tiyara Casita house model, which is located inside an exclusive area in front of the beach in the name of Enclave. It is under Condominium Certificate of Title (CCT) which you, as a foreigner, can own. It has a price range from Php8M to Php12M. There are only 9 units all in all. With regards to the remaining three house models, they are all in Transfer Certificate of Title (TCT) which only Filipino citizens can own. Their price ranges are as follows:

1. Ariana - 2-storey town house: Around Php1.1M to Php1.2M
2. Sumiya - 2-storey duplex house - Around Php1.6M
3. Sangya - 2-storey attached house - Around Php2.1 to Php3.3M (price varies due to different lot area)

As you have claimed that you are an Englishman but a Balik Bayan, do you mean you are natural born Filipino but a British national? If you are a natural born Filipino, you can reacquire your Filipino citizenship, to have dual citizenship. Then you can possibly own a house and lot under a TCT. If you are a pure British national, you can only own a Tiyara Casita house which is under a CCT.

With regards to your Filipina wife, she certainly can own the house and lot property under TCT or CCT. If you purchase a house and lot property under TCT, your wife will be the sole owner of the said TCT property. Although your name will appear on the title in the form of NAME OF WIFE married to YOUR NAME only your wife has the ownership thereof. If you purchase a CCT property, your name will also appear on the title which you also have actual ownership thereof.

Regarding the partnership business to own a property that you have mentioned, ONLY CORPORATION, a Philippine corporation which total foreign ownership not exceeding 40% of the corporation, can purchase property under TCT or CCT. An ordinary partnership business, consisting two persons, cannot own a property. There must be 5 incorporators in minimum to form a corporation. In your case, you may own up to 40% of the corporation and the remaining 4 incorporators, who must be Filipino, can own the rest of 60% of the shares of the corporation. You can then use the corporation to purchase a property under TCT or CCT. With your 40% share of the corporation, your ownership can be secured up to 40%. However, we can still have other options and additional ways to protect your interest on the property to a further extent. We can discuss it whenever necessary.

In view of the above scenarios, if you want to have a single detached house but within the Php4M price range, you may purchase a lot only in Mazari Cove through a corporation and build your single detached house thereon. The corporation will only own the lot. Then you can enter into a usufruct agreement with the corporation to have a long term lease of the lot for a 25 years renewable for another 25 years stating that the house is own by you solely (foreigner can own a HOUSE but not the LOT). The corporation cannot sell or mortgage the property without your consent. Definitely, you can hold the original owner's copy of the title of the lot so that other shareholders of the corporation, which is the owner of the lot cannot sell it or mortgage it without your consent or notice. With that usufruct agreement, you can enjoy the free use of the property without the concern of the loss of control of the property. If you can settle down with a town house, duplex or attached house, you can just buy any one of the above 3 house models within the Php4M price range with a corporation and make a usufruct agreement with the corporation to enjoy the use of the house.

I hope the above information can answer your queries. For any private questions, you are welcome to email me through my personal email at 8ray...@gmail.com. Thank you for your kind attention.
 

Best regards

Raymond Ong
Global Investment Director (Certified On Line)
Land Asia Global Properties Network,
Chief - Land Asia Institute Philippines,
Land Asia Realty & Development Corp.,
Real Estate License #2008-S-4-1122 (N)
HLURB Control # VII-00101-2008
Broker: Marissa S. Inting REB LIC#2007-1122(R)
Unit 4, G/F., Geson Bldg.
D. Jakosalem St., Cebu City 6000,
Cebu, Philippines
24/7 Hotline No.+6332-5158989

24/7 Mobile No.+63920-2666080
Tel. No.+6332-254049
Fax No.+6332-2546073
Talisay Info Center:
Tel./Fax No.+6332-5115882
Email: ray...@cebuhome.net
          raymo...@landasia.com.ph
          8ray...@gmail.com
          raymo...@yahoo.com
          raymon...@hotmail.com
Skype: raymond-8888
Website: http://www.cebuhome.net

Want to know more about me?
Please check here http://www.cebuhome.net/raymond_ong/raymond_ong.html

For your own protection, please always consult accredited real estate Salesperson or broker only for your real estate needs.

[martin...@cpksa.com]

Hi Declan

I too am English and  building a house in Tacloban (60% finished) We bought the land and designed our own home......building cost with complete interiors (tiles cupboards etc) are 4.2m for 265sq mt house.
 The easiest way for you is to take out Philippines citizenship and then you can own your own property. The Phillipines government has a reciprocal agreement with the UK government and your pension and other benefits are protected. I'm not sure if you would qualify for pension increases, but you can check on that. This is a far better way because if something were to happen to your wife you have a limited period in which to sell up the property as you cannot inherit land as a foreigner.

regards

Martin

dsb 1958 <dsb_...@yahoo.co.uk> Sent by: cebu...@googlegroups.com 08/11/2010 12:24 PM Please respond to cebu...@googlegroups.com

To cebu...@googlegroups.com cc May Aguilar <cebu_...@yahoo.com>

[Raymond Ong]

[May Aguilar]

Dear Declan and Martin,

I hope you will allow me the liberty of answering some of your questions.  I am a litigation lawyer practicing in Cebu City (specializing in civil and corporate law, lands included).  I am also Raymond's friend.  I am therefore writing in both capacities, hoping that my answer will help Raymond in his business. :)

Foreigners cannot own land in the Philippines, but they can own houses and buildings.  They can therefore own condominium units, provided the common areas of the condominium are owned by a condominium corporation where 60% of the shares are owned by Filipinos.

On Declan's statement that:

"If my wife is Filipina by 60% and place it in my spouses name (or family member), and I could set up a partnership with a family member and own up to 40% of the property myself"

This is not quite accurate.  A foreigner cannot own land, and it means he cannot own any part of the land, not even if it is less than 40%.  What is actually done is that the foreigner creates a corporation and registers it with our Securities and Exchange Commission. The foreigner will own 40% of the interests in the corporation.  The 60% will be owned by his wife or another Filipino.  The land can then be registered in the name of the corporation.  Trust documents will have to be executed here in order to protect the foreigner, unless of course the foreigner does not feel the need.

But this is not the only option.  If the foreigner does not wish to create a corporation, he can place the land in the name of his wife or girlfriend, or a Filipino he trusts, and then have the Filipino execute trust documents.  I hold two properties in trust for two foreigners.  Both are covered by trust documents.  One of these foreigners was once married to a Filipina. After their divorce, he got the land and house back but did not have anyone else to name the property in.  That is how he came to ask me to hold the land in his behalf in the meantime (until her remarries another Filipina or sells the property).  The property is now being rented (rent is paid to him directly).  He pays me a minimal amount for the service.

It is true, foreigners cannot inherit land ~ unless the foreigner is a former Filipino.  Yes, you can apply for naturalization, but if I am not mistaken, you need to be a resident of the Philippines for at least 10 years before you can apply.  I am not sure about the period tho, as naturalization laws are not my specialization.  If you are interested, I can refer you to a good lawyer who can help you with naturalization.

Of course, if it is a condominium you are looking at acquiring, this discussion will not be of much relevance.  At any rate, I hope to have helped in one way or another.

Best regards,

May

 

MAY S. AGUILAR
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089

http://philippineslawyer.wetpaint.com/

****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged.  It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.

Thank you very much.

****************************************************************

---

From: "martin...@cpksa.com" <martin...@cpksa.com>
To: cebu...@googlegroups.com
Cc: cebu...@googlegroups.com; May Aguilar <cebu_...@yahoo.com>
Sent: Wednesday, August 11, 2010 5:10:09 PM