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Charlie

Jun 12, 2002, 7:59 AM

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Fedeicomisos and Ejido Land

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Like many other towns in the restricted zone, our little village north of Barra de Navidad is in the process of regularization. Surveys were done last year and rumors are floating that bank trusts may start to be available at the end of this year. As in many areas of ejido lands, gringos have "purchased" property and made improvements with some people obviously spending huge amounts of money all the while not really owning the property that they have built upon. We all know that foreigners cannot own property in the restricted zone (some dispute this by saying the ejido papers have their name on it) and that presta nombres are illegal yet this has not impeded foreigners getting their fideicomisos in recently regularized towns such and Sayulita and San Pancho.
I am interested in hearing from people who "owned" ejido land and successfully made the transition to bank trust. I'd like to know of your experiences if you're willing to share. Either here or email me direct if that is more comfortable.

Charlie

Jun 12, 2002, 8:03 AM

Post #2 of 5 (3857 views)

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Fedeicomisos and Ejido Land

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: Like many other towns in the restricted zone, our little village north of Barra de Navidad is in the process of regularization. Surveys were done last year and rumors are floating that bank trusts may start to be available at the end of this year. As in many areas of ejido lands, gringos have "purchased" property and made improvements with some people obviously spending huge amounts of money all the while not really owning the property that they have built upon. We all know that foreigners cannot own property in the restricted zone (some dispute this by saying the ejido papers have their name on it) and that presta nombres are illegal yet this has not impeded foreigners getting their fideicomisos in recently regularized towns such and Sayulita and San Pancho.
: I am interested in hearing from people who "owned" ejido land and successfully made the transition to bank trust. I'd like to know of your experiences if you're willing to share. Either here or email me direct if that is more comfortable.<p>OOps, thought I was on the general forum, but maybe someone reading here has some input. Charlie

latitude26

Nov 26, 2004, 7:14 PM

Post #3 of 5 (3816 views)

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Re: [Charlie] Fedeicomisos and Ejido Land

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Hi Charley,

Just read this thread Nov. 04. Being the first one to buy ex-ejido land is a very complicated process. There are many things the ejido must do correctly before and individual Mexican can get title to the land then sell it to you through a fideicomiso. If any of these steps are done incorrectly it could affect your title. I would suggest hiring an attorney familiar with the process. I used Vernon Penner, www.mexicolaw.com . Vernon was very knowledgeable and I can't say enough good things about him. There is no way we would have been able to complete the purchase without him. I would also strongly suggest getting title insurance through First American or Stewart. If you follow these steps you can expect to spend $5000 to $7,000+ more than a normal real estate transaction, but when you are done you will be secure in the knowledge you have clear title to the property. I would not trust any real estate agent, no matter how reputable, to follow through on the above mentioned process, it's way too complicated and requires a knowledgable attorney.

Hope this helps,

Jeff

Caarina12

Nov 29, 2004, 9:43 AM

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Re: [Charlie] Fedeicomisos and Ejido Land

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Charlie,

PLEASE, PLEASE get good legal representation to help you through this process. I was just talking on the other forum about the mess at Punta Banda, near Ensenada. The dispute there caused much ill will between gringos and Mexicans in the community. It's best that everything be in the clear and that you have the best attorneys at your disposal.

Caarina

Marlene

Nov 29, 2004, 7:12 PM

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Re: [Caarina12] Fedeicomisos and Ejido Land

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Charlie's post is 2 1/2 years old and because his name appears in small black type it means he is not active here any longer.