Markit
Sorry to doubt you Sak but with just a nominee agreement you aint gonna get much anywhere. First you gotta have the land Certificate [B][I]and[/I][/B] the agreement then you might be in business. It's like car ownership here - you can have the registration in anyone's name and no one cares but if you physically have the blue/brown book to the vehicle anyone can go to the bank and get a mortgage on the car.
sakumabali
I'm not talking about banks here Markit :) I'm talking about let's say "risk capital investors", let's say Paul from England has a 1 million dollar villa and his janitor Ketut is his nominee. Ketut signed all this "hereby I give up all my rights irrevocably blablabla" documents but these "investors" know that Ketut is still the real owner because "irrevocability" doesn't exist in indonesian law. Plus the nominee agreement makes the foreigner a virtual landowner which is illegal like everybody knows. And so on...so this investor borrows ketut 100 million Rupiah, organizes a meeting with a judge where Ketut tells the judge how the evil foreigner forced him to sign these papers and he just want to have his land back. So the judge changes it back (he doesn't do anything wrong right? Just enforces the indonesian law) gets a "bonus" from the investor on top and suddenly Paul will meet these nice gentlemen who claim to be the new owners...and so on...nice good night story?
Markit
I'm beginning to get tired of these late night (expat) horror stories that people tell to scare each other. They are very silly and do not bare careful scrutiny and frankly I'm bored so Sak I'll leave someone else to explain to you and anyone else that wants some attention why this story is as daft as the last one.
