I requested for a ftf meeting in a coffee shop for a closure to a proposed joint project for a 3.5 hectare project in a neighboring town. A liaison man for the project in charge of titling and and other legal matters reported
at the principal is now selling instead of a jpa project. How could they? I have a phone number, we have accommodated them with an sizeable advance, and my sil and apo lives in the same condo cluster?
So we set at 3:30 pm in a coffee shop, but the principal was nowhere to be found - he is sick with hibp.
There are two issues with the project:
1. There is a conflict between him and his brother. He wants a jp, his brother wants to sell. But without a title they cant sell. Interport will buy from them at P1,000 to P1,500. Very cheap compared to asking of P5,000/sm
2. No title. To get a title and here where it becomes confusing
1, Since there is not title it part of the large title of Guido estate covering 3,000+ hectares TCT 23777
There are 3 supposed owners of this estate: Guido, Rommel and Interport. To get a free patent
and or judicial title you need a quick claim from one or all of the above. The lowest is P200 /sm
and it was reported that Rommel asks for P2,000/sm driving up transaction costs.
2. Interport is a publicly listed company, has high caliber management and legal team. They are not
selling but buying
3. They have filed cases vs large companies like Sta Lucia, ERRDC
In my conversation with a Chinese whose property was sold for Interport shares, he said stay
away from that towns property because no one because of Guido case can ever get a title. Even
Interport Resolluces has stacks of lis pendens and documented claimants (with Tax Dec on its territory and seething social unrest)
What is our resolution with the wife of the principal:
1. Shelve the project in the meantime, until such time that he and brother resolve differences;
2. There is a title.
They have to pay, in the meantime penalties and renewal fee for the advances of more than half million
In the meantime, their plan is to sell.
would take ages, perhaps centuries to resolve
