tel522
I know of an australian nearby whom has a nominee agreement with his neighbour" ketut" , ketut puts him under pressure when he needs money for something ,the aus is scared because he has since realised his nominee agreement is technically ilegal , so he pays ,a bad situation to be in imho .
HSG
I also think something overlooked in the nominee situation is it's not recognised as an asset you own. That means if you want to buy a $500k house, you need $500k cash, because you can't get a loan/mortgage. And if you do buy the house with cash, and you want to get a loan in the future for something else, banks won't consider that $500k equity because they can't get to it without the nominees permission.
Fred2
10 years ago nobody mentioned use of a PMA company to own property here, as they do in Thailand, but slowly I'm seeing more and more mentions of it as a way to own. If that is true then I think that's getting pretty close non-Indonesians being able to own property - in fact, if not virtually, don't you?[/QUOTE]30 years ago they were pushing PMA, nominee and all the agreement to perches land. The only way you could convince people to part with money without having a title that said you own the land. Pma was to give you directorship which came with a visa to live here and nominee to cut the cost of land tax,etc.The deal fell though when the owner wanted his daughter to be nominee and not my friend.
Fred2
[U]I'm not tell anybody what to do, this is a discussion[/U] If anyone is interested about land laws in Indonesia, one of the easier reads isIndonesian land law (in a nutshell) ByProf. Arie s. HutagalungOver the last 10+ years we've been discussing these ownership regulations and their interpretation with no end in sight and very little has changed.[COLOR=rgb(226, 80, 65)] A lot longer then 10 years[/COLOR]Fact: Thousands of foreigners have "bought" land through using the "nominee" title and are very happy with the results. They are able to live here, will it to their children or sell the property and not lose vast amounts on the length of the leasehold remaining. Most leaseholders profess this to be illegal and incredibly dangerous (sour grapes?) - no Indonesian court has ever had a major negative ruling against this form of ownership. [COLOR=rgb(226, 80, 65)]Yes and No, lots a very happy and lots a not so happy that they have lost everything. If you want to go to court over you lease, right of use, etc a lawyer would be happy to take our money. But when it comes to how owns the property you won't fine a lawyer to represent you and that why you don't see negative rulings because it never gets that far. [/COLOR]Fact: many people have also bought/built using the "leasehold" scheme and have also lived here for many years. Many have Kitas visas but many [U]do not[/U] and reside outside of Indonesia and enjoy their property when they want with no difficulty. This form of ownership is subject to diminishing returns corresponding to the length of lease remaining. It's not possible to create a contract for the full 80 years (25+25+30) at inception but each extension must be newly negotiated. Although many say they can do this easily or state in the original contract the terms/cost of extensions in 25 years, I don't know of any and suspect that after 25 years have gone by there may be a few surprises...[COLOR=rgb(226, 80, 65)] totally agree[/COLOR]Fact: there is a form of "ownership" that started out as a "nominee" agreement but then the foreign "owner" got the shits and donated his property to the government and changed it to leasehold and it will revert to being owned by the government upon end of the leasehold period or death of leasee (unless it's been willed to his errs, although this hasn't happened to anyone I know so watch this space).Fact: weirdly Indonesians are not allowed to own land in their own country if they are married to a foreigner, or at least that's the way it works. Unless there is a prenuptial agreement prior to the marriage and buying any land. They could own all the land they wanted (in their own country) if they just weren't married to one of us - how's that for prejudice?[/QUOTE] I[COLOR=rgb(226, 80, 65)]ncorrect the marriage law doesn't thump the Agrarian Law as stated by the high court, All Indonesian have the right to own land but they have to have a pre or post nup, This is simply because there [U]Foreign spouse is not allowed to own land[/U]. [/COLOR]Always happy to look at new laws, can you tell me what has changed in the last 60 years that makes you think, Foreigners will be able to hold Hak miliak?
