rhintransit
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Location: Loreto
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really dumb fideicomiso question
if there has been a fideo on a house in the past, but the owner never paid a cent on it besides initiating it, what happens when said 'owner' walks
away from it?
I know debts follow property...do fideiocomisos?
reality\'s never been of much use out here...
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Terry28
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Not really a dumb question. When I bought our house it was 5 years in arrears in fideo payments. The seller had to catch up prior to selling.
I have never heard of a bank "foreclosing" due to lack of payment but I guess some legal action could occur
Mexico!! Where two can live as cheaply as one.....but it costs twice as much.....
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larryC
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Same thing happened on my fidieo purchase. Before the bank would change the name the account had to be brought up to date as far as payments were
concerned. I think there were some penalties as in late payment fees, but that would vary between banks.
Off grid, 12-190 watt evergreen solar panels on solar trackers, 2-3648 stacked Outback inverters, 610ah LiFePo4 48v battery bank, FM 60 and MX60
Outback charge controllers, X-240 Outback transformer for 240v from inverters, 6500 watt Kubota diesel generator.
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rhintransit
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Makes some kind of sense. Guess the details are in the particular bank's contract. So if seller sells to a national....same applies, he/she just
doesn't need to take over the old one or get a new one? fideo just goes 'poof' after fees are paid?
[Edited on 4-21-2015 by rhintransit]
reality\'s never been of much use out here...
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rts551
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dumb question..if the seller walked away...who is selling the property?
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wessongroup
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The Bank .. ?
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mtnpop
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When it comes to a fidei it pays to do a ton of homework... before buying.... An existing can be transferred instead of doing a complete new one.. but
as earlier stated it must be current to transfer the property sort of...
In our own experience..."Interacionnes (s) in LaPaz... nailed us 2% per month compounded for 3 years....
Long story kind of shortened... Upon us signing the contract and handing over the funds, the seller notified the trust that they no longer owned the
property... (it was current at that time) We were not notified of this and were new to the process, no notification from the Notario or the trust Co.
3 years almost we got our first bill imagine our shock... over 3 grand.... and they would not negotiate even tho we had been in their office a year
earlier and tried to pay and they could not find us... The trust office punkin said it was our responsibility to know to pay not theirs to send us a
bill.... SAY WHAT..... Attorney got nowhere either... Would not recommend this trust company in a million years.. There is also more to the story but
I went over my allotment..
We also have never heard of the trust Company actually selling off a delinquent property,... even tho they should....
[Edited on 4-21-2015 by mtnpop]
Common sense is a flower that doesn\'t grow in everyone\'s garden.....
A wise man once spoke nothing.....
Never kick a cow chip on a hot day!!
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