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[QUOTE=Dorman]Am I the only one who reckons the girl treated the bloke very decently by giving him 50%?

Let's examine the facts, ten years ago a bloke buys his then girlfriend a piece of property, a not unusual occurence anywhere in the world. They later split up and she goes on to marry someone else and gets on with her life using the property -which is lawfully and morally hers without question- as a means of providing for her family. Then suddenly the ex-boyfriend who decides he needs some cash comes back on the scene demanding the property back!

Fuck him I say, she was very fair to give him 50%, he wouldn't have got a penny out of me.

In this case it is the westerner, not the Indonesian, who is the scheming, snivelling, grasping, nasty piece of goods if you ask me.[/QUOTE]

No, you're not the only one. Agreed.

I don't see how he got "totally, totally screwed with the deal". He was lucky to have been able to recoup his profit of 100%. He put the house in her name, so he could have walked away with nothing. What I would have done is to put both names on the house title deed and get a good Indo lawyer (do they exist?) to draw up something between her and I that is binding and mutually agreeable in the event of a split. If anything, those we can be sure of, right? :D

Can bule's have a property in their own name now?

Put your trust in an Indo lawyer.....?!

$150,000 profit......where's the problem?!

As said already, lucky to get that!

V

[QUOTE=Vulcanizer]Can bule's have a property in their own name now?

Put your trust in an Indo lawyer.....?!

$150,000 profit......where's the problem?!

As said already, lucky to get that!

V[/QUOTE]

Bule cannot own property in indo.

A trustworthy indo lawyer...........ROFLMAO..
this story is fuzzy in my head, so my facts might not be 100% correct.

A Russian gentleman wanted to buy a house here. He hired a lawyer, and handed over close to 250,000 USD to the guy. The lawyer took off with the money. He was tried and sentenced to a 25,000$ fine, and his license was revoked for 30 days. He was not asked to return the money.

A trustworthy Indo lawyer............ROFLMAO again.

[QUOTE=Dorman]Am I the only one who reckons the girl treated the bloke very decently by giving him 50%?

Let's examine the facts, ten years ago a bloke buys his then girlfriend a piece of property, a not unusual occurence anywhere in the world. They later split up and she goes on to marry someone else and gets on with her life using the property -which is lawfully and morally hers without question- as a means of providing for her family. Then suddenly the ex-boyfriend who decides he needs some cash comes back on the scene demanding the property back!

Fuck him I say, she was very fair to give him 50%, he wouldn't have got a penny out of me.

In this case it is the westerner, not the Indonesian, who is the scheming, snivelling, grasping, nasty piece of goods if you ask me.[/QUOTE]
He didn't buy the house for her. He put it in her name.

HUGE DIFFERENCE.

If a foreigner wants to buy property here, it has to go in the name of Indonesia national, in the form of a nominee.

That doesnt mean he bought her a house.

By rights, he should have got it all back, minus a small percentage. It is done like that every day. The nominee gets a fee at the front end, and a little bonus at the end.

[QUOTE=Raverboy]
What I would have done is to put both names on the house title deed and get a good Indo lawyer (do they exist?) to draw up something between her and I that is binding and mutually agreeable in the event of a split. If anything, those we can be sure of, right? :D[/QUOTE]
What about an IOU for any price the immovable will be worth on the day of sale.
Something like she ows you money and will pay it with the proceeds of the sale of the house. Anytime. Is that legally possible?

Wow some savvy investors here. I know you are all going to jump at the chance to buy some CDOs I've come across, all sanctioned by Goldman Sachs and rated AAA by Moodys. You'll make a mint, nothing can go wrong... All I ask for is 10% commission to tell you who to call to buy them from :D.

The last week's discussion on here positively scares me, frankly..

The company path may be the best option, but you still are going to have Indonesians as the majority shareholders (and possibly directors) at least. There seems to be ways, I've heard guys doing some interesting things but I don't have the exact details how. But this isn't the West, and "Welcome to Indonesia!" -where anything is possible (to go wrong).

All things are possible, after all I am probably the lone bule who has had an Indonesian girl actually pay back a loan. Possible doesn't mean probable however.

[QUOTE=Hung Man 1808]Wow some savvy investors here. I know you are all going to jump at the chance to buy some CDOs I've come across, all sanctioned by Goldman Sachs and rated AAA by Moodys. You'll make a mint, nothing can go wrong... All I ask for is 10% commission to tell you who to call to buy them from :D.

The last week's discussion on here positively scares me, frankly..

The company path may be the best option, but you still are going to have Indonesians as the majority shareholders (and possibly directors) at least. There seems to be ways, I've heard guys doing some interesting things but I don't have the exact details how. But this isn't the West, and "Welcome to Indonesia!" -where anything is possible (to go wrong).

All things are possible, after all I am probably the lone bule who has had an Indonesian girl actually pay back a loan. Possible doesn't mean probable however.[/QUOTE]If you set up a PMA company, then it can be 100% foreigner owned.

While the rear window is always clearer than the windshield, the PMA would have been the best (safest) way to buy. Everyone that i know here contracts their land for 25 years with an option for another 25 with the price tied into rice, I'm not sure why a single man would be buying land here anyway and to put land in your girlfriends name would be a foolish thing to o anywhere, if there is no life-long commitment there why would he think there would be with his investment. While i do feel sorry for the poor schmuck . . . "a fool and his money are soon parted".


- jij


[QUOTE=Hamaca]If you set up a PMA company, then it can be 100% foreigner owned.[/QUOTE]

[QUOTE=Hamaca]If you set up a PMA company, then it can be 100% foreigner owned.[/QUOTE]
I do not think I will buy property but your information about PMA made me curious.

I have studied a few articles about PMA. It seems to be the safest way to buy property. You mentioned that it costs to set up a PMA but loosing maybe 50% (or 100%) of the value - if you buy property in the name of an Indonesian - costs much more.

Do you know anyone who have done this and have experience?
How long time does it usually take to establish a PMA?
I read a statement that the cost is approx 35 million rupiah. Do you know if that is correct?
After reading the remarks about Indonesian lawyers there is an obvious question: You need a lawyer to set up a PMA. How do you find a lawyer you can trust?

Thanks in advance.

[QUOTE=Jijjy]While the rear window is always clearer than the windshield, the PMA would have been the best (safest) way to buy. Everyone that i know here contracts their land for 25 years with an option for another 25 with the price tied into rice, I'm not sure why a single man would be buying land here anyway and to put land in your girlfriends name would be a foolish thing to o anywhere, if there is no life-long commitment there why would he think there would be with his investment. While i do feel sorry for the poor schmuck . . . "a fool and his money are soon parted".

- jij[/QUOTE]
Thanks. But would you please explain one detail for me:
When you write "contracts their land" do you mean that the contract gives them the "right of use" the land and they then buy or construct the building on the land?

Btw, my conclusion of the discussion so far is that it is much simpler to rent a house. I guess that the annual costs would not be higher. But of course you might get a profit when you sell the house. On the other hand you can probably find better investments than property in Indonesia.

[QUOTE=Bellpepper]Thanks. But would you please explain one detail for me:
When you write "contracts their land" do you mean that the contract gives them the "right of use" the land and they then buy or construct the building on the land?

Btw, my conclusion of the discussion so far is that it is much simpler to rent a house. I guess that the annual costs would not be higher. But of course you might get a profit when you sell the house. On the other hand you can probably find better investments than property in Indonesia.[/QUOTE]
a land contract is a lease. You "rent" the land for 25 years, and build anything you want, with an option to renew after 25 years. Problem is, each day, as the period of your rental shrinks, so does the value of your investment.

In many cases, it is perfectly OK to buy, via a nominee. The wording has to be done correctly, and then you have nothing to worry about.

An indo friend of mine does very well for herself acting as a nominee for foreigners. she does it 4 or 5 times a year, charges about 2,000$ for her services, and has a clause in the contract that states upon the sale, she receives an agreed amount of the profits. Usually aobut 5-7%.

No problems this way, but it must be agreed to and spelled out before hand, you can't go in afterwards, and try to make things as you wish.

Profdesigner,

Thanks for the report on the Bali scam and land price rise. A lot of people, especially retiring baby boomers, want a piece of paradise.

But on your friend's case. It doesn't sound as bad as many other stories floating around. Of course, much better to have a profit of $450,000 than $150,000. But he doubled his money. He got something. Plenty of other people get taken to the cleaners, sometimes even threatened in various ways.

And on trusting the woman. And I don't mean to be an asshole. But what was he thinking? Was he a newcomer to Indonesia or just hypnotized by the power of the pussy? (Who could blame him on that one).

Again, don't mean to sound condescending, but sounds like he came off better than many.

Thanks again for the tale.

If you want to get married soon in indonesia to a muslim girl it is going to cost you ?.

[url]http://www.thebalitimes.com/2010/06/01/cant-buy-love-indonesia-thinks-foreign-men-should/[/url]

i've visited Bali several times and am thinking of checking out jakarta. My problem with the indo women in bali is that it seems like almost all of them smoke. Is it the same in Jakarta?

[QUOTE=Amjeck]i've visited Bali several times and am thinking of checking out jakarta. My problem with the indo women in bali is that it seems like almost all of them smoke. Is it the same in Jakarta?[/QUOTE]Might be that you pay more attention than you would back home.

In Indonesia there are more smoking women than in Europe and (I guess) the States, but happily there are also quite a lot that don't.

And besides, in my experience most girls prefer to mandi before going to bed. A good habit which is usually combined with brushing their teeth.

Regards,

Ko