We've been renting an apartment for almost 18 years. Doesn't it mean we should be already owning it?

[jaren12]

We've been renting for almost 18 years here in Philippines. Then a friend of mune said there is a Philippine Law saying that after 15 years, the tenant should already own the unit. Is it true? If yes, what law/RA is it??

[augustus]

No, you need to purchase it if you want to own it. Rent is not an interest free payment plan, it is not a payment plan at all.

[anglesey34]

I don't know if it is true that there is a law in the Philipines that allows a tenant to just steel somones property.... but even if there is a such a law, would you actually feel morrally justified to take it? I hope not!

[napayshni65]

No. Renting is not the same as buying. If you rent you pay rent forever or until you move out

[starling]

It sounds like you need more intelligent friends. My wife is a filipina and she is unaware of any laws like that.