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CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
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| Quote: | Originally posted by BajaNuts
thanks for the heads up 'roaming,
another catch22, so what's a person to do with a large lot?
You have to have a corporation for more than 2000m or spend $250k and now the corporation option is going away, are they gonna start checking on
improvements?
I suppose you could claim $100 income a year and pay taxes on that to keep your name off the "hot list". Or divide up your lot into smaller parcels
and then get fidei's for all of them. more $ more $ more$ |
My friends who maintain mexican corporations have an accountent who makes monthly reports and pays monthly taxes ....
They also have on line reporting requirements with mexican social security and are continuely reporting the hireing of labor .....
It seems to be a complicated process ....
This is NOT a yearly thing ....
[Edited on 6-25-2009 by CaboRon]
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k-rico
Super Nomad
Posts: 2079
Registered: 7-10-2008
Location: Playas de Tijuana
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| Quote: | Originally posted by capt. mike
why not get title insurance? it is becoming very prominent in Mexican RE transactions.
personally i wouldn't buy anything i couldn't get a title policy on.
see who has oversight on Notarios and start the process. it will be long and expensive but what else can you do? |
I mentioned title insurance to the attorney I hired when buying my house and he chuckled and said I'd spend all my money sueing the title insurance
company when they didn't pay the claim. That was his opinion and he's a sharp young guy that seems to me to be very on top of things.
To the original poster, U2U me if you want his name. He's in Tijuana, bilingual, and I think a very knowledgeable guy. He's also very tech savvy,
email, Skype, cell phone, etc. so he's easy to communicate with. Excellent English (for a second language). He could review your situation and offer
advice.
I'm communicating with him now on another matter and am impressed with his cut on things. He's recently bumped up his fees, $150/hour, which is what
we're discussing now. He also knows US real estate practices which is handy because he can explain things from my point of reference. For example he
recently explained to me that in Mexico, zoning regulations are called "use of soil" regulations and they certainly exist. So he says.
Let me know, I can do the original inquiry on your behalf and see what he says.
[Edited on 6-25-2009 by k-rico]
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roamingthroughbaja
Nomad
Posts: 143
Registered: 11-16-2007
Location: La Paz, BCS
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Re the $250,000 investment, some people have told me that no one ever checks, but I'd be a little nervous about that. Someone else who is doing a big
development on the Pacific told me that it includes the purchase of the lot, so who knows. Might be worth following up. Does anyone have any more
solid info?
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k-rico
Super Nomad
Posts: 2079
Registered: 7-10-2008
Location: Playas de Tijuana
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| Quote: | Originally posted by roamingthroughbaja
Re the $250,000 investment, some people have told me that no one ever checks, but I'd be a little nervous about that. Someone else who is doing a big
development on the Pacific told me that it includes the purchase of the lot, so who knows. Might be worth following up. Does anyone have any more
solid info? |
Just a thought - The person who wants your property cheap and knows you have ignored the improvement clause will check. As far as whether or not it
includes the cost of the land - I've always understood it to be an "improvement" clause - permanent structures. I could be mixing US and Mexican laws,
English and Spanish words - get a lawyer.
[Edited on 6-25-2009 by k-rico]
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BajaNuts
Super Nomad
Posts: 1085
Registered: 5-11-2008
Location: eastern WA, the DRY side
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Mood: no worry, no hurry....it's all good!
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Thanks, k-rico, I have a reference for a lawyer in La Paz, I'm going to try him first as he is in the area of our property.
bn1
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