EL NIDO PRISTINE TITLED ISLAND PROPERTY – WITH ESTATE PACKAGE SALE
via a ‘Usufruct Sale’ – ‘Vente En Viager Occupe’ Agreement
Aside from a pristine island property, being the HOME of Friday, all her other Palawan properties (valued at approx. $700,000 and increasing) will be included with this ‘Usufruct’ sale.
El Nido, Palawan, is a booming tourist town and Friday has lived on this fantastic nearby island of Malapacao for the past 31 years.
She loves her island lifestyle, has no plan to leave, and having now reached 65 years, she is ready to find a future owner for her home when she passes on.
Her magical island HOME property includes a rare 27, 502 sq meter ‘Matured Clean Title’, and her 220 meter long coconut fringed white sand beach is one of the best in all El Nido.
Adjacent this main property on the West side in a is a 10, 374 sqm Timberland area and on the East side another 5,324 sqm area, both belonging to Friday.
Green and Leatherback Turtles often lay their eggs here and Friday maintains a small hatchery to protect these eggs till hatching time.
Friday’s island sale (like her lifestyle) is not your average sale. She will sell her home property via a Usufruct Sale, also called ‘Vente En Viager Occupe’ means
’till her death’ agreement at a very affordably low price.
While she still has a choice, she is preferring that her island home will not be developed for tourism, and will stay unspoilt and protected by a health conscious, eco-friendly guardian, when she passes on.
As a fabulous bonus, the sale of this spectacular island property, comes with all of Friday’s other Palawan property ASSETS.
As of January 1st 2017, these properties are still included with her island sale:
1). On Malapacao facing North West
-a 10,374 sq. meter adjacent seashore Timberland
2). On Malapacao facing North East
-a 5,324 sq. meter adjacent seashore Timberland
3). On Malapacao facing West
-a 3,629 sq. meter nearby seashore Timberland
4). On Malapacao facing East
- a 217 sq. meter adjacent seashore Timberland lot
5). In Danat 12 kilometers south of El Nido
- a 171,415 sq. meter Titled rural farmland, organically developed with fruit trees, dam, swales, water impounding and year-round running streams
6). In Maranalao Teniguiban 27 kilometers north of El Nido,
- a 100,000 sq. meter riverside Timberland farmland, with year-round flowing river;
7). In El Nido town near to the market and the beach
- a 200 sq meter titled lot with an under construction 3-story hostel (1st floor almost completed)
8). In El Nido town near to the market and the beach
- an-an undeveloped 153 sq meter Titled vacant lot.
9). In Pamuntanan 40 mins by boat from El Nido - a 22,050 sq meter Timberland seashore access farm
10). In Luzviminda 35 mins by road from Puerto Princesa - a 600 sq meter Titled vacant lot.
All of the above properties are separately on the market for sale, so the sooner an island buyer decides to accept her island ‘Usufruct’ plan, the more properties will be included in this sale.
Having lived here for 31 years, Friday’s island home offers well established gardens, pathways, bridges, view decks, fruit trees and vegetable gardens. It is fully solar-powered and alive with strong positive energy.
This island sale package is ideal for someone around 40-49 years young, in a stable financial position. He,(she, they) would be seeking a pristine private island for retirement and recreation, not property for development and possibly 18-20 years from now.
(earlier or later depending the death of Friday).
A ’Usufruct’ sale agreement has become popular for Senior Citizens in many modern countries, and slowly being recognized and accepted in Asian countries like China, Singapore and the Philippines.
In the US a similar form of ‘Usufruct’ agreement is called ‘Reverse Mortgage’ or ‘Equity Release’ and readily available for those aged 62 or more. Other countries also use the term ‘Life Estates’ and in France the term ‘En Viager Occupe’ or ’Vente En Viager’ is used for such agreements.
These types of sales, regardless their name, offer great benefits for both seller and buyer and in theory anything can be purchased in this manner, although generally most ‘usufruct agreements’, ‘reverse mortgages’, ‘equity payments’ and ‘en viager’ contracts involve real estate.
This is normally most advantageous to people aged 65 or over, hence with Friday now recently turned 65, she will now initiate her sale.
Such a property sale is often a transaction between parents and their children or other individuals, where no banks are involved and generally based on a person’s life. The buyer pays the seller a lump sum deposit, (known in France as the ‘bouquet’).
The buyer then continues to pay the seller a monthly sum, also known again in France as a ‘rent’, (normally index linked to the equivalent of RPI) over the lifetime of the seller; the seller continues to live on the property for the remainder of his/her lifetime with no improvements allowed by the buyer, unless the seller agrees. At the sellers death, the buyer takes over.
The primary advantage for a buyer is that the upfront purchase price is far lower than if the property is bought outright. Often the monthly repayments and taxes on the property are lower too. Also, unless specified, the annuity is not for a fixed term, it is for the life of the seller.
Friday’s Titled home property is 2.7504 hectare, together with her rights to the adjacent 1.57 hectare forest land, makes a total of 4.3202 hectares or 10.675 hectares .
Being a rare gem in the middle of other pristine islands, a good number of wealthily developers have already offered Friday high amounts for her valuable island land.
Tempting though this might be, Friday prefers to live on and protect the land, during her lifetime. It is her goal to offer it to someone interested to likewise preserve it for personal eco-friendly use, appreciating the loving care she has given her island over the past 30 years, hopefully on a perpetual arrangement.
The figures below
(in US dollar currency) are what Friday is offering this island sale for -
$1,895,000 -allowing her to occupy the land till her demise.
includes her $700,000++ FREE ESTATE
The financial arrangement would be something along the lines of:
a $ 568,500 (30%) – Lump sum payment/deposit
a $ 6,635 – Monthly instalment payment till her demise
index linked to the equivalent of RPI inflation over her lifetime
Should the proposed buyer(s) be open-minded, appreciating Friday’s lifestyle he/she/they are welcome to enjoy several holiday vacations on the island each year at no further costs for the rest of her lifetime as well as immediate use of any of the properties within her estate, except her island home.
Friday is also open to discussions to further continue or help develop these properties for the new buyer, as a way of offering employment to the local community and increasing investment potential of the new buyer.
Documentation transfer process:
Usufruct Sales Agreements are legal binding agreements here in the Philippines, so peace of mind of both parties over her island home purchase is fully assured with transparent documentations.
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