Santiago
Ultra Nomad
Posts: 3533
Registered: 8-27-2003
Member Is Offline
|
|
A purely hypothetical ? regarding 10 year lease
Let's say, oh, someone I know has signed an almost 10 year lease for a small lot with small cabin on it and that this person is using it on a very
occasional basis - a few times per year for maybe a couple weeks at a time. In addition, for some inexplicable reason, this person would like to
follow all the laws in Mexico, even though he (or she) doesn't seem to be exibiting like concern for US law. Go figure.
I, er, this person has googled this to death and just gets no where. Anyway, what immigration status should I tell this person to get? Is there a
requirement to 'record' the lease to make it enforceable? and if so, who must record it and where?
Not that this person is going to do anything different; just curious.
|
|
|
DanO
Super Nomad
Posts: 1923
Registered: 8-26-2003
Location: Not far from the Pacific
Member Is Offline
|
|
You, er, this hypothetical person, must have an FM3 to enforce any legal rights. The theoretical lease should also be recorded by a notario so that
it becomes a public record.
\"Without deviation from the norm, progress is not possible.\" -- Frank Zappa
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
As DanO says, a true lease is made through a Notario Publico. This is not the same as a Notary in the states. What many, as in many many, people
have with an informal lease would more accurately be called a Rental Agreement. About as heavy as a handshake and won't carry you very far in a
dispute.
It isn't just a matter of you taking it to a Notario. It must be offered by the landlord and he may not be interested in signing away the rights to
his property for ten years. We in the states are used to signing a lease without any legal assistance. It's a legal document with protections for
all partys. Not so in Mexico. There's nothing enforcible about a rental agreement.
|
|
|
Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
Member Is Offline
Mood: undecided
|
|
When the landlord say's it's time to go, you need to start packing your bags and looking for a new place to hang your hat.
|
|
|
Paulina
Ultra Nomad
Posts: 3812
Registered: 8-31-2002
Location: BCN
Member Is Offline
|
|
Santiago,
With a landlord such as someone you know has, they don't have any worries. Should this person still have doubts, then suggest to them that they
shouldn't invest more than they can walk away from.
P<*)))><
\"Well behaved women rarely make history.\" Laurel Thatcher Ulrich
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
Paulina.......
Good advice. Renting land in Mexico is no place for a pessimist.
|
|
|
Santiago
Ultra Nomad
Posts: 3533
Registered: 8-27-2003
Member Is Offline
|
|
I think the light just went on. My problem was that I could not resolve the info that one must have an FM3 to lease but most have an FM2 to 'retire'
and live in Mexico. In other words, if you have an FM2 you are renting, no mater what the document says - right? If you want to have an enforceable
lease, get an FM3 and insist on going to a notario - right?
P: believe me, no worries here. Could not be happier. I just want to get a better understanding of mexican real estate.
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by Santiago
In other words, if you have an FM2 you are renting, no mater what the document says - right? If you want to have an enforceable lease, get an FM3
and insist on going to a notario - right? |
No. You're getting close but, that's not quite it.
The FM2 comes after the FM3 and you can enter into a real lease with either. You may be thinking of the FMT which is a tourist visa.
It probably wouldn't be in your best interest to insist on anything with a prospective landlord. You could request a lease but, best not to insist
on one. The lease is not as common as one could believe. You hear about them often but, it's the US rentor's misconception of the agreement.
Because we can sit in a bar in San Diego and sign a legal and binding lease, many will think the same thing is possible in Mexico. It's a
preconceived notion that the whole world works just like the USA. It doesn't. Countless times, I've tried to explain this to Americans who only
think they have a lease and it all falls on deaf ears. People believe what they want to believe.
If all you are offered is a rental agreement, check with others in the area for a recommendation of the landlord. Is he solid or shakey. Make your
decision and go for it. Enjoy what you get yourself into. If the uncertainty of a rental agreement is going to haunt you for ten years, by all
means don't do it.
|
|
|
Pescador
Ultra Nomad
Posts: 3587
Registered: 10-17-2002
Location: Baja California Sur
Member Is Offline
|
|
A lease can be set up for a maximum of 10 years, must be registered with a notario, which is then registered as a recorded document, and gives you 10
years, maximum, with no increase or changes unless agreed to by both parties. The property can not be sold while you have a lease, and has the same
strength as a lien in the United States. You can ask for a first right of refusal if he should decide to sell at the end of 10 years. Since it
actually establishes a lien, they will find the lease in the event that someone tries to sell the property.
Now that settles the property agreement and must be handled by a Notario. The next question has to do with Immigration and if you are renting or
doing anything more than coming in for up to 6 month visits as a tourist, you really should obtain an FM3. You have very little, if any, protection
with rental agreements, lease agreements, or any of the other issues without an FM3. It also allows you to stay as long as you like as there is no 6
month maximum stay, which is what you get with a Tourist Visa or FMT.
|
|
|
![[*]](images/xmbforum/default_icon.gif){kind=icon}
