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therumjournal

Sep 30, 2015, 9:40 AM

Post #1 of 5 (4597 views)

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buying a lot and being told i don't need a fideicomiso

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Im looking at purchasing a lot in a residential development in Cancun. It is not in the hotel zone and I believe it is definitely within 50km of the coast line. Of course the sales agent is telling me the fideicomismo is NOT necessary. I don't believe this to be true. Does anyone have experience with this? I will definitely talk to a lawyer before I do anything but just curious



sparks


Sep 30, 2015, 10:14 AM

Post #2 of 5 (4590 views)

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Re: [therumjournal] buying a lot and being told i don't need a fideicomiso

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As far as I know it's either a fideicomiso or a prestanombre in the restricted zones. Ask a Notary for your own peace of mind

Sparks Mexico Blog - Sparks Costalegre


therumjournal

Sep 30, 2015, 10:29 AM

Post #3 of 5 (4582 views)

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Re: [sparks] buying a lot and being told i don't need a fideicomiso

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what is a prestanombre? basically having the property in the name of a mexican citizen?


mcm

Sep 30, 2015, 11:00 AM

Post #4 of 5 (4573 views)

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Re: [therumjournal] buying a lot and being told i don't need a fideicomiso

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It's possible that a LEGAL alternative to holding property through a fideicomiso would be to form a Mexican corporation, and hold the land that way. A number of people with property in the restricted zone on the Yucatan coast have done this, but I have also ''heard'' that this alternative has become more difficult (the corporation must be active, with regular reports made to Hacienda -- Treasury-- ).

Like Spark's said, discuss this with a notario (NOT the sales agent, or a buddy of the sales agent) to find out your legal alternatives (prestanombres are not really legal).


sparks


Oct 1, 2015, 6:45 AM

Post #5 of 5 (4507 views)

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Re: [therumjournal] buying a lot and being told i don't need a fideicomiso

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Yes a prestanombre is the property is owned by hopefully a trusted Mexican and you get a Carta de Poder (power of attorney) to control the property. Caution .... Carta de Poder's are not good forever. In Jalisco they are good for five years

Sparks Mexico Blog - Sparks Costalegre
 
 
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