My friend is about to buy land through his Filipino wife for $400K. In cash.

There's nothing in the Philippines worth $400K.

Sounds like the dumbest thing he could do with $400K.

He absolutely needs a lawyer for this, because she'll own the land. He can only own the right to use it.

He needs to get a lawyer involved ASAP.

I don't know how long they've been together, what their arrangement is, or even how old they are, so it's hard to say anything definite about the situation. If $400K isn't a big deal for him (like he's rich), then no problem. If it's his life savings, I'd do my best to step in. Especially if he's much older (elder abuse?), in which case even the bank might stop it. But if he's a capable guy of working age with plenty of money to go around, let him do his thing. It's pretty much always a bad idea for a foreigner to buy land in the Philippines, but I've rarely heard of anyone changing their mind because of some internet thread or a friend telling them not to.

The land titles are handed over in exchange for payment or a manager's cheque, and both parties sign the absolute deed of sale. Banks usually have a conference room where this is done. The bank has nothing to do with the sale itself; it's just a meeting place, and most likely either where the buyer's funds come from or where the seller deposits them. Ideally both sides should have their own lawyer there to check the documents, deed of sale and so on. Also, the seller should get a copy of the manager's cheque a day before the final meeting so their bank can verify the funds, which sort of protects them. It should in no way be a lease agreement; it should be an actual sale.