| Pages:
1
2
3
4 |
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by MsTerieus
I have the same question about some homeowners in Mexico: what does a homeowner get out of building it on leased land? |
The practice comes from a time gone by when land here, even waterfront, had little value. At that time, landlords were happy to generate steady,
reliable income without giving up their property and their word was their bond.
Times change, as do generations in control of the property, and in many cases, the promises made to the tenants die with the original owner leaving
the disillusioned American tenant to apply his US mindset and insist on his rights...of which he has none. If one isn't legal in Mexico, one can't
enter into a contract and in most cases, contracts were never offered...only rental agreements which were meaningless in or out of a court of law.
At the present time, real estate development is at a standstill, but one of these days, the boom will regain it's momentum and land values near the
water will reach all-time highs. At that time, the tenant on leased land should keep his bags packed because the land, with his house, could be sold
at any time.
What I'm sayin' is, the land lease is obsolete and unsafe to say the best. I wouldn't advise it for anybody.
|
|
|
mcfez
Elite Nomad
Posts: 8678
Registered: 12-2-2009
Location: aka BN yankeeirishman
Member Is Offline
|
|
Many Walmarts and Home Depots are built on leased land......
We got both ownership and leased lands in Baja.
Leasing is so cheap on the long run. The cost of our house in Campos Ocotilio, the yearly lease of ten years....is cheaper than paying for a vacation
rental or Hotel for the amount of time there. That's one of a few reasons to lease.
Oh....and......wall Graffiti Artist(s)....should be captured and used for fish bait.
| Quote: | Originally posted by MsTerieus
| Quote: | Originally posted by Skeet/Loreto
I have often wondered:
What does a Graffiti Artist get out of painting on Someone else;s Wall. ... |
I have the same question about some homeowners in Mexico: what does a homeowner get out of building it on leased land? |
[Edited on 9-22-2010 by mcfez]
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by mcfez
Many Walmarts and Home Depots are built on leased land......
We got both ownership and leased lands in Baja.
Leasing is so cheap on the long run. |
Do you, only for a minute, feel that your lease, if you truly have such a thing other than a rental agreement, has the same legal protections as a
WalMart lease?
By the way....Other than the government, WalMart is the largest employer in Mexico.
|
|
|
mcfez
Elite Nomad
Posts: 8678
Registered: 12-2-2009
Location: aka BN yankeeirishman
Member Is Offline
|
|
| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by mcfez
Many Walmarts and Home Depots are built on leased land......
We got both ownership and leased lands in Baja.
Leasing is so cheap on the long run. |
Do you, only for a minute, feel that your lease, if you truly have such a thing other than a rental agreement, has the same legal protections as a
WalMart lease?
By the way....Other than the government, WalMart is the largest employer in Mexico. |
:
DENNIS
Good question and thanks for asking.
Yes to your question! Like I said...the lease er rental :-) suits our purpose there perfectly. At the end of our lease....burn the place down for all
I care...we came out ahead of the game. I do believe that our lease will be re-upped as it has in the pass. And that be a good thing.
I have many friends down that will debate all nite long how secure their lease is....one of them (a teacher BTW) swears on his mother's grave that his
20 year lease is valid and will hold up in a court of law. Oh...okay  As some of
use know...it's a 10ner in Mexico by their law.
I have also seen homeowners spend hundreds of thousands of USD on construction of their homes on leased land. Not a bet I would take. But I would on
land that we own ....with risk to that too a little. Old saying goes....I think you have said this in the far past of this forum....If you cant afford
to loose it...dont build in Baja. So true.
Didn't expect this sort of reply from me, eh? 
And no...I did not know WalMart is the largest employer in Mexico.
[Edited on 9-22-2010 by mcfez]
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by mcfez
I have many friends down that will debate all nite long how secure their lease is....one of them (a teacher BTW) swears on his mother's grave that his
20 year lease is valid and will hold up in a court of law. Oh...okay As some of
use know...it's a 10ner in Mexico by their law.
|
For some it's difficult to admit they are ever out of the USA and think our laws are the same everywhere. Ohhh welllll....
Only a legal lease has the ten year time frame. Most people don't know what they have, or don't have, and only assume the best. It's the American
way. Hope for the best.
Thanks, mc.........
|
|
|
durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
|
|
| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by MsTerieus
At the present time, real estate development is at a standstill, but one of these days, the boom will regain it's momentum and land values near the
water will reach all-time highs. At that time, the tenant on leased land should keep his bags packed because the land, with his house, could be sold
at any time.
What I'm sayin' is, the land lease is obsolete and unsafe to say the best. I wouldn't advise it for anybody. |
How about those poor folks on the spit that were RECENTLY evicted from the homes they thought they owned (some for 20+ years). They wern't any safer
than if they had leased the land. |
Bob Durrell
|
|
|
mcfez
Elite Nomad
Posts: 8678
Registered: 12-2-2009
Location: aka BN yankeeirishman
Member Is Offline
|
|
| Quote: | Originally posted by durrelllrobert
| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by MsTerieus
At the present time, real estate development is at a standstill, but one of these days, the boom will regain it's momentum and land values near the
water will reach all-time highs. At that time, the tenant on leased land should keep his bags packed because the land, with his house, could be sold
at any time.
What I'm sayin' is, the land lease is obsolete and unsafe to say the best. I wouldn't advise it for anybody. |
How about those poor folks on the spit that were RECENTLY evicted from the homes they thought they owned (some for 20+ years). They wern't any safer
than if they had leased the land. |
True. Very True!
A story that come out a year or two ago concerning a Campos down the street from us, I write the story as I heard it...in short form:
7-8 years ago, this lady drives up a dirt road, and camps there. Loves the place! Goes back and forth there many times. Finally, the owner of this
beach front land shows up...they talk..and talk...and talk. She offered to buy a lot, and he agrees.
During the next several years...she builds a house there, and encourages her friends to buy in too. Soon.....its a micro village with a security gate
and guard
at the front entrance. Home sweet home!
About two years ago...this guy from Ensenada drives in.....sees this progressing development....stops to ask one of the neighbors..."what da hell are
you doing on my land"?!! So it was fact that he was indeed the owner...and this other guy was just a conman.
The original lady camper convinced the Ensenada owner to let her stay. Everything else was lost to everyone. True story!
Ah....hire a pro to do your buying...... |
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
|
|
|
Cyanide41
Nomad
Posts: 303
Registered: 1-7-2009
Location: Tijuana
Member Is Offline
|
|
| Quote: | Originally posted by k-rico
It was a cold rainy day in TJ and while at a PEMEX I saw two cops pull up to a couple of teenage guys walking down the street, tackle them in the mud
next to the street, and cuff them face down with their knees in their backs.
Spray paint cans that fell out of a backpack rolled down the street. It was a good thing to see. |
That's awesome.
I have seen guys spray painting on THIS STREET in broad daylight. I don't the city has enough paint to cover it up. My GF at the time lived near by
|
|
|
Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
|
|
Graffiti exists all over the world. A number of European cities are virtually covered. I remember the first time I visited Rome. I was shocked that
you couldn't walk a block without seeing paint on a wall.
I also recall way back when, in New York. Graffitists targeted the subway cars. The then mayor, John Lindsay decided to stop the program of cleaning
it off, referring to it as art. Didn't take very long until the entire fleet of rolling stock was totally covered with the exception of the windows.
It was weird. Didn't strike me as art.
|
|
|
Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
Member Is Offline
Mood: undecided
|
|
Graffiti is vandalism.
|
|
|
durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
|
|
| Quote: | Originally posted by MsTerieus
I have the same question about some homeowners in Mexico: what does a homeowner get out of building it on leased land? |
If you are thinking about buying Mekican property using a bank trust (Fideicomiso) you should be aware that the IRS may be watching you:
IRS throwing bombs to US citizen real estate investors abroad
A property that is lived in by beneficiary of Fideicomiso or relative MUST be taxed at fair rental value as distribution of the Trust.
FATCA: Uncompensated Use of Foreign Trust Property
June 25, 2010 by admin
Filed under: FATCA
The uncompensated use of foreign trust property by a U.S. Grantor, a U.S. Beneficiary, or a U.S. Person related to either of them is treated as a
distribution by the trust for non-grantor trust income tax purposes (which also includes the loan of cash or marketable securities by a foreign trust
or the use of any other property of the trust).
The distribution treatment of foreign trust transaction has been expanded to include the uncompensated use of property by certain U.S. Persons. The
treatment of foreign trusts as having U.S. beneficiaries for grantor trust purposes has been expanded to include loans of cash or marketable
securities or the use of any other trust property to or by a U.S. Person.
If a foreign trust permits the use of any trust property by a U.S. Grantor, a U.S. Beneficiary, or any U.S. Person related to either of them, the fair
market value of the use of such property is treated as a distribution by the trust to the Grantor or Beneficiary (IRC §643(i)(1), as amended by the
2010 HIRE Act).
This treatment does not apply to the extent that the trust is paid the fair market value of such use within a reasonable time (IRC §643(i)(2)(E), as
added the 2010 HIRE Act). If distribution treatment does apply to the use of trust property, the subsequent return of such property is disregarded for
federal tax purposes (IRC §643(i)(3), as amended by the 2010 HIRE Act).
http://www.procopio.com/userfiles/file/assets/files1/what-ha...
Bob Durrell
|
|
|
MsTerieus
Nomad
Posts: 462
Registered: 6-8-2010
Location: Punta Banda, Ensenada, Baja California
Member Is Offline
|
|
| Quote: | | Quote: | | Quote: | Originally posted by durrelllrobert
[quote
|
I have the same question about some homeowners in Mexico: what does a homeowner get out of building it on leased land? |
Zero property tax for one. This is not just in Mexico: you must know that about 1/3rd of the homes in Foster City are on leased land and back in
Maryland, Virginia (and other eastern states) land lease is not uncommon. The annual land lease here is less than half theprice of renting a mobile
home space in the US and guaranteed for 10 years at a time. |
Oh, please: the cost of the leases generally far outweighs any property taxes. I don't believe what you said about Foster City. I have lived about
7 minutes away from there for the past 20+ years, and I have never heard such a thing.
|
|
|
MsTerieus
Nomad
Posts: 462
Registered: 6-8-2010
Location: Punta Banda, Ensenada, Baja California
Member Is Offline
|
|
Hey, Durrell & McFez: You have attributed some quoted language to me which is not mine! 
|
|
|
MsTerieus
Nomad
Posts: 462
Registered: 6-8-2010
Location: Punta Banda, Ensenada, Baja California
Member Is Offline
|
|
Wow, that is very interesting. Thanks, I knew nothing about it. (Assuming my poor kitties outlive me and my few (older) family members, they are
going to have to come up with some cash!)
|
|
|
Bajafun777
Super Nomad
Posts: 1103
Registered: 9-13-2006
Location: Rosarito & California
Member Is Offline
Mood: Enjoying Life with Wife In Mexico, Easy on The Easy
|
|
I have come to the conclusion that I will try leasing at 3 months at a time at all the different locations that get my attention and desire to try the
location out longer. That way there is no "Too Bad Too Sad " situation for anyone. The other part is I get to see more of what is really out there
before thinking of staying longer at a location! "No Hurry, No Worry, Just Fun" Take Care & Travel Safe
bajafun777
|
|
|
mcfez
Elite Nomad
Posts: 8678
Registered: 12-2-2009
Location: aka BN yankeeirishman
Member Is Offline
|
|
| Quote: | Originally posted by MsTerieus
Hey, Durrell & McFez: You have attributed some quoted language to me which is not mine! |
Such as.......?
Bajafun777.......smart move.
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
|
|
|
MsTerieus
Nomad
Posts: 462
Registered: 6-8-2010
Location: Punta Banda, Ensenada, Baja California
Member Is Offline
|
|
| Quote: | Originally posted by mcfez
| Quote: | Originally posted by MsTerieus
Hey, Durrell & McFez: You have attributed some quoted language to me which is not mine! |
Such as.......?
|
Such as all this:
"Originally posted by MsTerieus [NOT!]
"At the present time, real estate development is at a standstill, but one of these days, the boom will regain it's momentum and land values near the
water will reach all-time highs. At that time, the tenant on leased land should keep his bags packed because the land, with his house, could be sold
at any time.
"What I'm sayin' is, the land lease is obsolete and unsafe to say the best. I wouldn't advise it for anybody."
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
It's no big deal. Someone messed up the quote boxes....that's all. It's not like the text will ruin your career.
|
|
|
DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
Member Is Offline
|
|
| Quote: | Originally posted by Phil S
Todays graffiti is like 'tomorrows' cave paintings. Some day, history will record these comments regarding graffiti. And some day, Roger's photo's
of his crayon graffiti work will be in museums maybe five six hundred years from now. Along with the boulders they are written on!!
[Edited on 9-20-2010 by Phil S]
[Edited on 9-20-2010 by Phil S] |
This made me smile----Quite a while back, I started a Thread that pondered a similar question----was not a well accepted thought.
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
Where does one draw the line between Tagging, Graffiti and Art? The Coronado Bridge in San Diego was tagged and painted so often, and the city
couldn't stop it, that they declared the mainland end of the bridge an "Ok to do what you want" area.
If you can't beat 'em...join 'em.
|
|
|
| Pages:
1
2
3
4 |
![[*]](images/xmbforum/default_icon.gif){kind=icon}
