Property In A Company Name

[glenbat]

I've seen several houses for sale in a company name, and notes along the lines of 'allowing foreign ownership'. I know you can buy a condo outright, and can not own a house (or the land its on I think) so whats with selling a house under a company name?

Is this some sort of loophole allowing foreigners to buy houses?

[dsfbrit]

I've seen several houses for sale in a company name, and notes along the lines of 'allowing foreign ownership'. I know you can buy a condo outright, and can not own a house (or the land its on I think) so whats with selling a house under a company name?

Is this some sort of loophole allowing foreigners to buy houses?

Loophole - yes.

It is illegal and the subject of many forum threads - search for land ownership and you will find many many articles.

Those of us who did this over the past 15-20 years are eagerly awaiting some new legislation to let us know if the government are going to reposssess the land under our houses or not.

I cannot be more blunt than that in warning you off - can I?

[johnnyk]

glenbat,

its a way of transferring ownership by selling the company that owns the assets (house & land) rather than selling the property itself.

yes, its a loophole.

[paperwerks]

Forget about this route. Anyone who tells you that this is a viable option is a liar, scammer or just plain ignorant. That being said, I would bet that 80% of real estate agents and developers would initially tell you that its ok to do. They all fall under one of the the above categories.

I played around with a sales agent from Plus preperties recently who told me "no Problem" and had her call the lawyer in her main office who then explained to her that it is not possible. I am willing to bet that the next falang she met, she would still tell him "no problem" They don't care if your land gets siezed or if you have title problems. They only care about their commission.