Originally posted by DianaT
Quote: | Originally posted by rts551
Quote: | Originally posted by cabaja
That could be nice if you could charge what ever you like!!!!
So you are telling us for example you buy a house in a campo pay $100,000 for the house, you have it for 10 years the rent example: was $1,400 a
year..
Now your lease expires and you want a new lease (the property land got sold) you now have a NEW landlord and he says i'm raising your lease to $5,600
a year or $10,000 a year....
They can do this????????????? Don't think so there are Mexican Laws..
If that was the case now your house is worth maybe $10,000 or less because of the lease increase.... |
Why don't you think so? What law were you thinking of? |
I may be wrong, but my understanding is that any agreements for renewal at any price that are included in the original lease are NOT enforceable. And
that at the end of the 10 years, the land owner can charge what they want or not renew the lease if they so choose.
If there is a law that states otherwise, it would be good to know.
IMHO, it is risky business to buy a home on leased land, or in the name of another person, or as is happening in some places, to buy the land and put
it in some else's corporation and then pay that corporation an annual fee, because the titled owner can change things and you might be out to lunch.
We "owned" part of our property in the name of another person who we totally trusted and it worked out just fine, but we knew the risks.
Buyer beware --- absolutely |