UnoMas - 5-14-2008 at 06:45 PM
If you bought property at appraised value instead of actual purchase price this may intrest you, since you will be the one who pay's all the capitol
gains tax. I have the attorney's info in La Paz who wrote this article if interested...........
Actual selling price not divulged in an "FTD" contract:
When one buys Personal Rights over a Real Estate Property through "Fideicomiso translativo de Dominio" contract (FTD contract) or by an "Escritura"
(writing) in which the actual purchased price is not declared fraud is done against the 3 different levels of governments in Mexico; Fraud is done by
the seller against the Federal Government if Capital Gain taxes were to be applied and fraud against the State and Municipal government by the buyer
in regards to the acquisition tax. In the event that a real estate agent and or broker is involved they are also involved. Recent cases proved to be a
big problem for real estate agents, brokers and sellers; Government authorities decided not to pursue buyers, who were part of the fraud, as long as
they took the initiative of pursuing the person(s) who did the fraud of not divulging the real selling price.
Because of this it is recommended that anyone who has an "FTD" contract in which the real price was not declared to engage in negotiations with the
person(s) who did fraud; in the event that there is no cooperation to have the matter resolved by having a correction made in the said contract it is
recommended that the buyer does the necessary so as to bring the guilty ones in front of the Criminal (Penal) Courts.