Quote:
Originally Posted by juswan2knwu
Most foreigners bypass tis by putting the name of a local as the "offical" owner. Hwevr, as tis is a "gentleman" agreement, there is no ways (legal or illegal) of asssuring he keep his promise.
1 possible wk ard is gt him 2 sign an IOU which said he owed U a sum of $$ (
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There is a danger to this, as I personally fall for this during the 98 crisis. If the value of the rupiah drops too harsh, it is you who will be the ultimate loser.
Take for example, if you buy the land say 100k sing. Which is about 600million rupiah today. then the IOU says he owe you 600million rupiah. If the rupiah becomes 20% of today's value in 3 years time, you lose out big, becos he pay you only 600 million rupiah which will be 20k sing only. Also, if the person dies, and have no kids, the land goes to the govenment.