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Author: Subject: Escritura?
caj13
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[*] posted on 1-9-2018 at 08:55 PM
Escritura?


looking at places in the east cape, in the listings some of the places - in the title sectionb say "Escritura" I know it means "writing" in english, but have no idea what it means in this context.

I'm familiar with fidescomo and Ejedo (probably spelled both of those wrong) but not familiar with " Escritura" anyone here willing to educate me?

[Edited on 1-10-2018 by caj13]
Ah crud, i should have posted this in Questions forum, sorry, hopefully the magic mod will fix it so I don't look like an idiot

[Edited on 1-10-2018 by caj13]
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Cancamo
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[*] posted on 1-10-2018 at 09:21 AM


Escritura Publico= Property Title as held by a national individual/entity.
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[*] posted on 1-10-2018 at 09:27 AM


Quote: Originally posted by Cancamo  
Escritura Publico= Property Title as held by a national individual/entity.


Right, so if I bought the place, I would have to either:
become a mexican citizen
or
Convert it to Fideicomiso?
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[*] posted on 1-10-2018 at 09:30 AM


You right, beware of investment clause on Fideicomisos.
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[*] posted on 1-10-2018 at 02:15 PM


investment clause on Fideicomisos is for properties larger than 2000 sq meters

yes if you are not a national you need a fideicomisos

unless you form a corp and run a "real" business
then the corp holds the deed in its name

investmentc.jpg - 79kB




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[*] posted on 1-10-2018 at 06:01 PM


Most lots are just less than 2000--mine is 1996sq M for example. Make some friends as most will offer valuable advice. Suerte.
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[*] posted on 1-10-2018 at 06:02 PM


Quote: Originally posted by Bob and Susan  
investment clause on Fideicomisos is for properties larger than 2000 sq meters

yes if you are not a national you need a fideicomisos

unless you form a corp and run a "real" business
then the corp holds the deed in its name


What is the import and effect of the investment clause, and is the square meters based on the land or the building?

[Edited on 1-11-2018 by BigBearRider]
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[*] posted on 1-11-2018 at 08:09 AM


Land
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[*] posted on 1-11-2018 at 12:59 PM


land...

if you convert the land to commercial use your taxes go up too






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[*] posted on 1-11-2018 at 04:28 PM


Thanks for the responses. I got that the investment clause relates to land, but I'm not sure of it's effect. Are you saying that the effect is that if you convert your land to commercial use, the taxes go up?
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[*] posted on 1-11-2018 at 05:06 PM


Quote: Originally posted by BigBearRider  
... Are you saying that the effect is that if you convert your land to commercial use, the taxes go up?


yes...way up compared to a normal residential house




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[*] posted on 1-11-2018 at 06:40 PM


Got it. Thanks.
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