Can’t Legally Own Land: How Can I Structure Land Flip Contracts?

[Account Closed]

Hi, this is my first post and my first land flipping deal.

I'm an American citizen living in the Philippines. I want to buy a foreclosed lot from the bank by paying cash in full. But PH does not allow non-citizens to own land.

So how should I ask the bank to structure the contract? Purchase option paid in full upfront? Lease option paid in full upfront? Sales contract?

I can record a lien (option), but not a title transfer. Should I ask the bank to sign the title and give me physical possession so I can give it to my buyer after I flip it? Any other ideas?

Thank you,

Greg

[Bill Gulley]

First, you can't contract to do something you're not allowed to perform, if you can't own you can't contract to buy or to facilitate ownership. You need a citizen to own for you, under another agreement, perhaps a long term lease, pre-paid. You might use a lien, but if you can't own, what good would the collateral be if you can't accept title? Perhaps a trustee arrangement is possible. You can also see if an entity formed there can hold title with you owning the entity or being the beneficiary. Have no idea what the laws are there, might ask an attorney there! :)