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Author: Subject: Do I need an Attorney, accountant etc
Dave
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[*] posted on 1-12-2004 at 08:11 PM


So Bajagrouper, just what CAN'T you do with property under the umbrella of a bank trust? What rights of ownership are missing?





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bajagrouper
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[*] posted on 1-13-2004 at 01:24 AM
brother Dave,I believe


Hola Dave,i don't believe that you can own beachfront land in Baja,land in the grey zone is held in trust by a bank,you can build a house or anything else on the land but remember it is only leased to you,at any time they want the Mexican Gov.can change the laws and take away said land...enjoy:cool:



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Dave
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[*] posted on 1-13-2004 at 10:47 AM


Quote:
Originally posted by bajagrouper
Hola Dave,i don't believe that you can own beachfront land in Baja,land in the grey zone is held in trust by a bank,you can build a house or anything else on the land but remember it is only leased to you,at any time they want the Mexican Gov.can change the laws and take away said land...enjoy:cool:


The Fideicomiso guarantees ALL ownership rights of fee simple title. The bank actually holds title with you as the beneficiary. The land is NOT leased.

True, the Mexican government can change the laws BUT all property rights everywhere are subservient to government authority. Ever heard of Eminent Domain?

Don't believe me? Here's a little experiment you might try. Stop paying your property taxes.:lol:




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bajagrouper
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[*] posted on 1-14-2004 at 12:43 AM


Yo Dave,you sound up tight,chill before the big one.You know I may have made an honest mistake Dave.I may be wrong or you may be wrong,all I know is that right or wrong I'll never loose any money in Mexico,how bout you.....Dave?:tumble:



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