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Author: Subject: THE LEGAL PROCESS OF A FIDEICOMISO FOR MY HOUSE IN BAHIA ASUNCIÓN It is a long thread but worth your reading.
JC43
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[*] posted on 12-28-2021 at 08:48 AM


Quote: Originally posted by mtgoat666  
Quote: Originally posted by BajaTed  
This story is why you go in person to the publico notario to see your recorded fidecomiso. You then take a picture of the book cover and all the pages. Our 1987 family photos of the "book" in the Ensenada office led to it being shown again to us in 2018.
First thing shown to a realtor or Abagado is the business card of the Notario officer. If you don't meet this person on a F2F basis, your in over your head.
A good notario is better than any Abagado; rule #2 of Baja realty


Last week there was a thread here where a Mulegé “realtor” said you could buy houses from him with just a virtual inspection, and he would make all the paperwork happen w/o even needing to be in Mexico. A bunch of mulege nomads chimed in to say this “realtor” is More honest than Jesus, walks on water, turns water into wine, etc.

Sounds like Udo should have hired mulege Jesus as his agent.

The Mexican system of real estate transfer/title is a mess.


Well, personally I feel sorry for Udo. BUT !!!::: Udo, it is your own fault that it happened this way.
Reason for that: Gringoes buying a property in Mexico think they have to do it like they would do it in Grigoland.
O.K., let me explain.
1. Gringos think they need a title to be safe. BS! Question: What is a title good for as there is no title company in MX? Need a title to get a title insurance? What is a title insurance good for? Written (mostly) in English it has no value in MX.
An example of a title insurance issued by Lewis and Lewis went donw the drain. Claim was denied.
A title is worth no nothing looking at the safety of your purchase. It is only good for the gouvernment to get you by the balls getting money out of you. Without a title you are as safe as you have to be in re of your property. The only thing you got to have is the receipt that you paid for the property and of course a notarized selling/buying contract. As you got a title, you got to have a
2. Fideicomiso because the gouvernment is forcing you to have it. . And what is a fido good for???? You think you can not own a property in MX inside the 50Km zone? What????? Everybody who is buying a property in Baja, paying the purchase price, having a receipt for the payment and the notarized contract is the owner of said property. The property is in the buyers name. No question! The fido is the same scam of the MX gouvernment as the title thing. Worth no nothing. (Oh sorry, wrong. Worth a lot for the corrupt MX gouvernment to pull money out of your pockets if you are stupid enough) And as it happened so many times. You pay for a fido at the bank. And the bank says "Thanks for the money -- next year again please". Not delivering the fido to MX City to make it legal. Or selling it to another bank. They sell it to whom they want. Happend all the time - even to Udo.
Summary. If you want to live in MX, live and do it and act like a Mexicán. Don`t think you have to export your U.S. lifestyle and thinking to Mexico. It won`t work.
Udo is the best example. And he is not the only one.
Make your homework and ask Mexicans what is right and how to live in their country.
Udo: Now prefering a home on leased land??? What please? Don`t you know that a landlord just needs to "sell" the entire property (including your parcel) to his grandma or daughter and you are without any contract for your home you build or bought on said leased land. In that case your "dream-home" is getting a nother owner faster than you can walk away !!


[Edited on 12-28-2021 by JC43]
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