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rocmoc
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Owning Property in Baja
Is my assumption/information correct? Because of how narrow Baja is and the Border, there is very few places where you can own the land outright!
Most property has to be held in a Trust or owned by a Mexican Corporation. True?
Thanks,
rocmoc n AZ/Mexico
rocmoc n AZ/Mexico
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toneart
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| Quote: | Originally posted by rocmoc
Is my assumption/information correct? Because of how narrow Baja is and the Border, there is very few places where you can own the land outright!
Most property has to be held in a Trust or owned by a Mexican Corporation. True?
Thanks,
rocmoc n AZ/Mexico |
Yes!
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bajajudy
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| Quote: | Originally posted by rocmoc
there is very few places where you can own the land outright!
rocmoc n AZ/Mexico |
There are no places. The trust process works just fine.
Unless you plan on being in business here, the corporation doesnt work.
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DianaT
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| Quote: | Originally posted by bajajudy
| Quote: | Originally posted by rocmoc
there is very few places where you can own the land outright!
rocmoc n AZ/Mexico |
There are no places. The trust process works just fine.
Unless you plan on being in business here, the corporation doesnt work. |
Some people have tried having a corporation for their own home and have had many problems.
Some people, however, are willing to take the risk of "owning" property in the name of a Mexican citizen, or simply with a power of attorney. Some
are also willing to lease property---some with the don't build anything you would not walk away from, and some who trust that the lease will not go
away.
The trust is the only way we are comfortable---right to sell, has named beneficiaries, right to renew, no question as to the legality, etc.
On edit---another thought-- if you own the property in the name of a Mexican citizen, and you happened to be married to that person---you are quite
safe, that is unless you are not nice to your spouse. 
[Edited on 7-24-2009 by jdtrotter]
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BMG
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Here is a website in English that might help.
http://www.trustmexico.com.mx/?ln=en
I think the world is run by C- students.
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Martyman
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RocMoc;
Just so you know...bank trust fees can be as expensive as leasing or renting a place
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fishbuck
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I believe I have seen a few spots that can be legally bought by foriegners.
They are spots located in the very center of the penisula at the wide parts.
But ya, a fido is the way to go.
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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tripledigitken
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| Quote: | Originally posted by Martyman
RocMoc;
Just so you know...bank trust fees can be as expensive as leasing or renting a place |
That would surprize me. Our trust is $450/year and I don't believe I have heard anyone mention one costing more than $500.
Can you provide details on that please if I am wrong?
Ken
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rocmoc
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Thanks everyone. While we have traveled both some of Baja and a lot of Mainland, we are looking at future options. At some point in time not too
long from now, we will settle down to a single region/area instead of exploring each winter. We can always leave the off-road toys in AZ for summer
use and enjoy other toys in Mexico (hiking, kyaks, fishing & etc.). We relax by playing or working! Would like to have our own place in Mexico
with deed in hand & title insurance, Old School.
Thanks again,
rocmoc n AZ/Mexico
rocmoc n AZ/Mexico
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BMG
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| Quote: | Originally posted by tripledigitken
| Quote: | Originally posted by Martyman
RocMoc;
Just so you know...bank trust fees can be as expensive as leasing or renting a place |
That would surprize me. Our trust is $450/year and I don't believe I have heard anyone mention one costing more than $500.
Can you provide details on that please if I am wrong?
Ken |
http://www.trustmexico.com.mx/costos.asp?ln=en
I think the world is run by C- students.
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tehag
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Fide
650 US year before last, 605 last year, 110 this year. I like the direction, but...
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Hook
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| Quote: | Originally posted by tehag
650 US year before last, 605 last year, 110 this year. I like the direction, but... |
Your fide is going down each year? Who are you with?
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elizabeth
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| Quote: | Originally posted by rocmoc
enjoy other toys in Mexico (hiking, kyaks, fishing & etc.). We relax by playing or working! Would like to have our own place in Mexico with deed
in hand & title insurance, Old School.
Thanks again,
rocmoc n AZ/Mexico |
Unless you plan to travel away from your home to fish and kayak (or do it in a mainland lake or river) you won't get a deed in hand...all of the
coastal areas, Baja and mainland, are restricted zones and need to be purchased with a fideicomiso. An awful lot of people in those areas find that a
fideicomiso is the safest choice...other than citizenship!
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DianaT
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| Quote: | Originally posted by rocmoc
Would like to have our own place in Mexico with deed in hand & title insurance, Old School.
Thanks again,
rocmoc n AZ/Mexico |
Curious---I do understand how you feel, however, what is it you do not like about the bank trust? We are also old school with real estate and would
prefer the deed in hand, but we are also comfortable with the bank trust.
I believe that some people with a bank trust do have title insurance, but I also, and this is third hand knowledge at best, I believe that title
insurance in Mexico is not really the same as it is in the US.
Diane
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rocmoc
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Diane, just like to have the deed, title or ownership papers of personal possessions in hand. Laws change, governments change, businesses change.
Doesn't mean even if you have property in your name it can't be taken away. Eminent Domain in the States has taken plenty of property from owners.
Something I/we may have to rethink.
rocmoc n AZ/Mexico
[Edited on 7-25-2009 by rocmoc]
rocmoc n AZ/Mexico
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toneart
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Fideo Si!
Location is what is important. If you want to own in Baja, the Fideocomiso is the way to go. It is as secure as the Mexican Government. 
In the United States, we have Eminent Domain. If you have a house in a seaside community and a big developer (in cahoots with the local politicians)
wants your land, the government can declare that throwing you off your land (with fair market compensation) is for the greater common good.
Crackheads could inherit the house next door and set up a lab. They could have trained (or untrained) killer pitbulls that threaten your animals or
children, or you. They could have all night parties with a huge speaker system. Toxic fumes or an explosion could harm you.
There is no end to possible risks anywhere that you choose to live. Circumstances change no matter how carefully you choose.
Just go forward and live your dreams. Be diligent in your research and do your homework. Rent in an area for a year before you decide whether the
lifestyle there is for you. Cover your bases as well as you can. While fear rules many peoples' decisions and keeps them from living their
dreams, it really should not be a driver. Fear can be beneficial, lurking in the background, until you take active steps to eliminate the sources of
those particular fears and conquer them.
I had a girlfriend whose motto was, "Live Life Juicy!" She was a good teacher. MMMmmmmmm!
So, I think a Fideocomiso is way down anyone's reasonable list of potential perils. (The juices of life can be far more daring). 
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rocmoc
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jdtrotter & toneart, great points.
Thanks,
rocmoc
rocmoc n AZ/Mexico
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irenemm
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if your married to a mexican and your a gringa you have rights. no worry it is community property unless you have a pre nup. i know i am the gringa
and nothing is in my name but i also know the law in that part. it is just as much mine as his as we are married legally.
nothing in baja can be owned by a gringo as this time the highest part is far enough from the water but it is federal park san pedro martin
lots of people think that the person is a nice guy and there are many nice people but would you hand over money to some nice guy in the states if he
said it is his. NO so don't do it here. our manager did that many years ago and he spent all the money he got from the leases and not one lease was
legal but people liked the guy he left with all the money and did nothing when we can we had no money but we did everything that was promised on the
leases because the jerk had worked for us. i alwasy tell someone if your gonna rent or lease propery get yourself a lawyer in 2 different city and
have the property checked to make sure it is who is collecting the money. good luck
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larryC
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tripledigitken
I guess I am lucky cause my fideo bank fees are $550 a year.
Irenemm
Are you Eddie's madre?
Larry
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BajaBella
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weighing in...
http://www.bajalandsolutions.com/FAQs.html
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