BajaNomad - Owning Property in Baja

Owning Property in Baja

rocmoc - 7-24-2009 at 07:10 AM

Is my assumption/information correct? Because of how narrow Baja is and the Border, there is very few places where you can own the land outright! Most property has to be held in a Trust or owned by a Mexican Corporation. True?

Thanks,
rocmoc n AZ/Mexico

toneart - 7-24-2009 at 07:35 AM

Quote:

Originally posted by rocmoc
Is my assumption/information correct? Because of how narrow Baja is and the Border, there is very few places where you can own the land outright! Most property has to be held in a Trust or owned by a Mexican Corporation. True?

Thanks,
rocmoc n AZ/Mexico

Yes!

bajajudy - 7-24-2009 at 09:40 AM

Quote:

Originally posted by rocmoc
there is very few places where you can own the land outright!
rocmoc n AZ/Mexico

There are no places. The trust process works just fine.
Unless you plan on being in business here, the corporation doesnt work.

DianaT - 7-24-2009 at 11:32 AM

Quote:

Originally posted by bajajudy

Quote:

Originally posted by rocmoc
there is very few places where you can own the land outright!
rocmoc n AZ/Mexico

There are no places. The trust process works just fine.
Unless you plan on being in business here, the corporation doesnt work.

Some people have tried having a corporation for their own home and have had many problems.

Some people, however, are willing to take the risk of "owning" property in the name of a Mexican citizen, or simply with a power of attorney. Some are also willing to lease property---some with the don't build anything you would not walk away from, and some who trust that the lease will not go away.

The trust is the only way we are comfortable---right to sell, has named beneficiaries, right to renew, no question as to the legality, etc.

On edit---another thought-- if you own the property in the name of a Mexican citizen, and you happened to be married to that person---you are quite safe, that is unless you are not nice to your spouse. :lol:

[Edited on 7-24-2009 by jdtrotter]

BMG - 7-24-2009 at 12:27 PM

Here is a website in English that might help.

http://www.trustmexico.com.mx/?ln=en

Martyman - 7-24-2009 at 01:19 PM

RocMoc;
Just so you know...bank trust fees can be as expensive as leasing or renting a place

fishbuck - 7-24-2009 at 01:20 PM

I believe I have seen a few spots that can be legally bought by foriegners.
They are spots located in the very center of the penisula at the wide parts.
But ya, a fido is the way to go.

tripledigitken - 7-24-2009 at 01:26 PM

Quote:

Originally posted by Martyman
RocMoc;
Just so you know...bank trust fees can be as expensive as leasing or renting a place

That would surprize me. Our trust is $450/year and I don't believe I have heard anyone mention one costing more than $500.

Can you provide details on that please if I am wrong?

Ken

rocmoc - 7-24-2009 at 02:37 PM

Thanks everyone. While we have traveled both some of Baja and a lot of Mainland, we are looking at future options. At some point in time not too long from now, we will settle down to a single region/area instead of exploring each winter. We can always leave the off-road toys in AZ for summer use and enjoy other toys in Mexico (hiking, kyaks, fishing & etc.). We relax by playing or working! Would like to have our own place in Mexico with deed in hand & title insurance, Old School.

Thanks again,
rocmoc n AZ/Mexico

BMG - 7-24-2009 at 03:01 PM

Quote:

Originally posted by tripledigitken

Quote:

Originally posted by Martyman
RocMoc;
Just so you know...bank trust fees can be as expensive as leasing or renting a place

That would surprize me. Our trust is $450/year and I don't believe I have heard anyone mention one costing more than $500.

Can you provide details on that please if I am wrong?

Ken

http://www.trustmexico.com.mx/costos.asp?ln=en

Fide

tehag - 7-24-2009 at 07:30 PM

650 US year before last, 605 last year, 110 this year. I like the direction, but...

Hook - 7-25-2009 at 08:25 AM

Quote:

Originally posted by tehag
650 US year before last, 605 last year, 110 this year. I like the direction, but...

Your fide is going down each year? Who are you with?

elizabeth - 7-25-2009 at 08:57 AM

Quote:

Originally posted by rocmoc
enjoy other toys in Mexico (hiking, kyaks, fishing & etc.). We relax by playing or working! Would like to have our own place in Mexico with deed in hand & title insurance, Old School.

Thanks again,
rocmoc n AZ/Mexico

Unless you plan to travel away from your home to fish and kayak (or do it in a mainland lake or river) you won't get a deed in hand...all of the coastal areas, Baja and mainland, are restricted zones and need to be purchased with a fideicomiso. An awful lot of people in those areas find that a fideicomiso is the safest choice...other than citizenship!

DianaT - 7-25-2009 at 09:01 AM

Quote:

Originally posted by rocmoc
Would like to have our own place in Mexico with deed in hand & title insurance, Old School.

Thanks again,
rocmoc n AZ/Mexico

Curious---I do understand how you feel, however, what is it you do not like about the bank trust? We are also old school with real estate and would prefer the deed in hand, but we are also comfortable with the bank trust.

I believe that some people with a bank trust do have title insurance, but I also, and this is third hand knowledge at best, I believe that title insurance in Mexico is not really the same as it is in the US.

Diane

rocmoc - 7-25-2009 at 09:25 AM

Diane, just like to have the deed, title or ownership papers of personal possessions in hand. Laws change, governments change, businesses change. Doesn't mean even if you have property in your name it can't be taken away. Eminent Domain in the States has taken plenty of property from owners. Something I/we may have to rethink.

rocmoc n AZ/Mexico

[Edited on 7-25-2009 by rocmoc]

Fideo Si!

toneart - 7-25-2009 at 09:41 AM

Location is what is important. If you want to own in Baja, the Fideocomiso is the way to go. It is as secure as the Mexican Government.

In the United States, we have Eminent Domain. If you have a house in a seaside community and a big developer (in cahoots with the local politicians) wants your land, the government can declare that throwing you off your land (with fair market compensation) is for the greater common good.

Crackheads could inherit the house next door and set up a lab. They could have trained (or untrained) killer pitbulls that threaten your animals or children, or you. They could have all night parties with a huge speaker system. Toxic fumes or an explosion could harm you.

There is no end to possible risks anywhere that you choose to live. Circumstances change no matter how carefully you choose.

Just go forward and live your dreams. Be diligent in your research and do your homework. Rent in an area for a year before you decide whether the lifestyle there is for you. Cover your bases as well as you can. While fear rules many peoples' decisions and keeps them from living their dreams, it really should not be a driver. Fear can be beneficial, lurking in the background, until you take active steps to eliminate the sources of those particular fears and conquer them.

I had a girlfriend whose motto was, "Live Life Juicy!" She was a good teacher. MMMmmmmmm!

So, I think a Fideocomiso is way down anyone's reasonable list of potential perils. (The juices of life can be far more daring).

rocmoc - 7-25-2009 at 02:29 PM

jdtrotter & toneart, great points.

Thanks,
rocmoc

irenemm - 7-25-2009 at 07:21 PM

if your married to a mexican and your a gringa you have rights. no worry it is community property unless you have a pre nup. i know i am the gringa and nothing is in my name but i also know the law in that part. it is just as much mine as his as we are married legally.
nothing in baja can be owned by a gringo as this time the highest part is far enough from the water but it is federal park san pedro martin

lots of people think that the person is a nice guy and there are many nice people but would you hand over money to some nice guy in the states if he said it is his. NO so don't do it here. our manager did that many years ago and he spent all the money he got from the leases and not one lease was legal but people liked the guy he left with all the money and did nothing when we can we had no money but we did everything that was promised on the leases because the jerk had worked for us. i alwasy tell someone if your gonna rent or lease propery get yourself a lawyer in 2 different city and have the property checked to make sure it is who is collecting the money. good luck

larryC - 7-27-2009 at 02:32 PM

tripledigitken
I guess I am lucky cause my fideo bank fees are $550 a year.

Irenemm
Are you Eddie's madre?
Larry

BajaBella - 7-27-2009 at 03:35 PM

weighing in...

http://www.bajalandsolutions.com/FAQs.html

DianaT - 7-27-2009 at 04:15 PM

Quote:

Originally posted by BajaBella
weighing in...

http://www.bajalandsolutions.com/FAQs.html

Interesting site---just a little dated, I believe on the cost of obtaining the Bank Trust. They are quoting 2 to 3000 dollars--ours cost a little over 5000 and I know others are paying more.

Right now we are paying $385.00 a year for our trust, but since it can go up, I am sure it will. :lol:

Thanks for sharing the site.

Diane

[Edited on 7-27-2009 by jdtrotter]

BajaNuts - 7-27-2009 at 05:57 PM

Quote:

Originally posted by rocmoc
just like to have the deed, title or ownership papers of personal possessions in hand.
rocmoc n AZ/Mexico

[Edited on 7-25-2009 by rocmoc]

To rocmoc-

It may be different in your state, but in WA, even if your house is paid in full, you do not get the title, the court house keeps it, for "safekeeping". It is EXTREMELY difficult to get the actual piece of paper that is your title.

I'm just curious, rocmoc, if you actually do have your title "IN HAND"...actually physically in your possession?

If you don't, then it's not that much different than a fidei.

Well, there is one difference.....the county courthouse doesn't charge you $600 a year for "safekeeping"! :lol:

bajalou - 7-27-2009 at 06:09 PM

The area around San Matis is outside the "Restricted" zone.

irenemm - 7-28-2009 at 05:18 PM

larry c
u guess it
don't tell
thanks

toneart - 7-28-2009 at 05:35 PM

Quote:

Originally posted by jdtrotter

Quote:

Originally posted by BajaBella
weighing in...

http://www.bajalandsolutions.com/FAQs.html

Thanks for sharing the site.

Diane

[Edited on 7-27-2009 by jdtrotter]

The figures Dianne quoted are almost exactly what I paid to set up the Fido four years ago, and also the annual fee to maintain it. I hear now they are costing around $6000.00 to set up. :wow:

fishbuck - 7-28-2009 at 05:39 PM

Unrestricted Zone

The Unrestricted Zone is the inland part of Baja that is over 32 miles away from the oceans, and over 64 miles away from the international borders. If you’re a U.S. citizen you don’t need to pay the fideicomiso set-up fee to purchase this land. There is not much Unrestricted Zone land here in Baja because of how narrow the penisula is.

The Unrestricted Zone allows foreigners to own land using an escritura publica just like a Mexican citizen.

[Edited on 7-29-2009 by fishbuck]

rocmoc - 7-28-2009 at 05:49 PM

Quote:

Originally posted by BajaNuts

Quote:

Originally posted by rocmoc
just like to have the deed, title or ownership papers of personal possessions in hand.
rocmoc n AZ/Mexico

[Edited on 7-25-2009 by rocmoc]

Yes in AZ I do have the deed to our house but the county does keep a copy on file.

rocmoc n AZ/Mexico

BajaNuts - 7-28-2009 at 06:10 PM

Thanks, rocmoc. And I do understand folk's old school feelings of wanting it in hand.
'nuts