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  • What would you do? Property trouble...

    Hello everyone,

    Already read a lot during the last years. But now i need personal help.

    Here is an overview of the current situation which i need advice for:

    Around four years ago i bought land together with my ex girlfriend (we were 6 years together) as an investment on Lombok. She paid half and i paid half. The land is on her name. So after some years we sell and everybody gets 50:50. That was the plan...

    For me it is time to sell the land soon because we don't have much contact any more and she lives in Canada with her son. And she also said that she don't want to sell it any time soon. So i guess she wants to keep it the next 10 years which is way too long for me. What if she dies? Or become a different person? Then i loose everything. I ask her to sell sooner but she won't. It seems i have nothing to say about it any more.
    So that made me worried and we talked about it and the solution was that she will buy my part. So i told her i will sell it market value minus 20% because i think that's a generous offer. That means i will give my part away 200.000.000IDR cheaper than market price. But she only want to pay 50% of market value. I don't know why but she thinks that's fair. Is it?

    What possibilities do i have? We have long online chat history and emails as proof of our deal. I also have witnesses that we bought it together 50:50 as an investment.
    You don't need to tell me how stupid i am trusting another person with it. I know that already. So that doesn't help

    If you would be in my shoes. What would you do? What are the options?

    Thanks for answers.
    Quinn

  • #2
    Is your ex an indonesian ? because as a foreigner im sure your aware you cannot own land .
    I dont know about lombok but in bali prices have dropped like a stone , if agung goes bang , who knows but im sure prices will go down further ,.

    Comment


    • #3
      Yes. She is Indonesian. But also holding canadian residence papers. If that matters...
      So the land is on her name.
      Prices went down? Really? Maybe because everybody going to Lombok now ;-)
      We paid 35 Juta per are. And when I look at olx people are still asking for 200 juta per are.

      Anybody knows realistic prices for 15 Are Gili air property 200m away from the beach?

      Comment


      • #4
        hmmm yap you have no legal rights of course .

        In south bali nothings selling and a few acquaintances sold villas - 40% + and that took a year or so , in my area in south bali there is 1 neighbor selling land with a free house .

        Honestly if Agung erupts strongly this area could be a "no go" for a couple of years , I reckon land bordering bali and bali will be as "cheap as chips" that is if anyone is willing to risk it .

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        • #5
          Originally posted by Quinn2013 View Post
          ... If you would be in my shoes. What would you do? ... she only want to pay 50% of market value ... We paid 35 Juta per are. And when I look at olx people are still asking for 200 juta per are ...

          I would accept what she proposed because even so you will be getting a very good profit (50% of market value = 100 juta , you paid 35 juta , so 185.7% in 4 years means a profit of around 30% per year - no bank would pay you more than 10% per year) .

          Comment


          • #6

            I agree with Marcus and take what you can get as she doesn't need to give you anything at all. If the land is Hak Milik it legally belongs to her...you may have a contract, and all sorts of evidence, but you'd need to go to court and, by the time you paid everyone off, I doubt you'd net more than she's willing to give you.

            People in Bali are asking ridiculous prices as there isn't a realistic market price...how is it measured?

            In Kerobokan there are 4 villas next to me that have been empty since built over 2 years ago because the developer thinks they are worth more than anyone is willing to pay.
            My own villa isn't worth much more than I paid over 5 years ago.

            Anyone going to Lombok should be reminded that Mount Rinjani is much more active than Agung.

            Comment


            • #7
              Hi Quinn, Take whatever she is willing to pay at least get back you initial investment++ rather than you don't get anything for the reasons below ;
              1. You don't have any legal agreements that can get you justice.
              2. She is not willing to sell.
              3. She is in Canada meaning difficult to contact, contact with her means putting more money on calls, internet, etc. Which she can easily start ignoring and it will built frustration for you.
              4. She can get lost anytime and you wont know her whereabouts.
              5. Even she does not pay you anything, you cannot do anything about that.
              5. Once you get back the money, then you can tell how unfair, untrustworthy she was, etc.

              Good Luck !!

              Comment


              • #8
                Agree with the others - you have no legal rights despite whatever emails and other informal documentation you possess, so sell to her and get out.

                Comment


                • #9
                  Dear Quinn,

                  from my legal view, you don't have any legal ground as the owner of the land but, you can come up with other point that you lend her money so she can buy the land, i think you and her need to be bound in loan agreement with the land as the collateral to secure your position. It is also possible to sell half of the land so there will be 2 land certificate (half owned by her and other half to possible buyer).

                  hope this help

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