huesos
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Fidelcomiso or corporate title
I was talking to a local engineer today about title search and he mentioned that fidelcomiso might be an inferior way to hold title. He recommends
forming a corporation in Mexico and holding title within that. I get the feeling that he doesn't like banks anyway and that he has little confidence
in the survivability of a lot of them.
Does anyone have experience with this alternate form of paperwork?
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BigWooo
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Read these:
link 1
link 2
link 3
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huesos
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Thanks for the links. Murky but still informative. Some things stand out.
You need three people to form a corporation. My friend the engineer did not mention this.
With a fidelcomiso, you need an FM3 or the property can be seized. Never heard that one before. There must be hundreds of these in my area.
Mexico real estate is a massive can of worms.
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Beagle
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Quote: Originally posted by huesos  | Thanks for the links. Murky but still informative. Some things stand out.
You need three people to form a corporation. My friend the engineer did not mention this.
With a fidelcomiso, you need an FM3 or the property can be seized. Never heard that one before. There must be hundreds of these in my area.
Mexico real estate is a massive can of worms. |
Property can be seized if you don't have an FM3? Is that true? Can't say that doesn't have me a little bit freaked out now. Anyone know anything more
on this? I'n scouring the threads but not seeing much.
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CortezBlue
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I have only heard about gringos who purchased a house as a corporation and lost them because it was not an honest corporation, only a shell of a
company to buy a home.
I have been in San Felipe for many years and have never heard about anyone losing property because they didn't have an FM
“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.”
- Albert Einstein
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CortezBlue
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I have only heard about gringos who purchased a house as a corporation and lost them because it was not an honest corporation, only a shell of a
company to buy a home.
I have been in San Felipe for many years and have never heard about anyone losing property because they didn't have an FM
“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.”
- Albert Einstein
Follow Cortez Blue
www.cortezblue.com
We put the FUNK in disFUNKtion |
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KaceyJ
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| Quote: Originally posted by Beagle | | Quote: Originally posted by huesos | Thanks for the links. Murky but still informative. Some things stand out.
You need three people to form a corporation. My friend the engineer did not mention this.
With a fidelcomiso, you need an FM3 or the property can be seized. Never heard that one before. There must be hundreds of these in my area.
Mexico real estate is a massive can of worms. |
Property can be seized if you don't have an FM3? Is that true? Can't say that doesn't have me a little bit freaked out now. Anyone know anything more
on this? I'n scouring the threads but not seeing much. |
I believe the comment is referring to personal property not real property - but don't count on my statement
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huesos
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If you read thru the three links posted above, you will see that the statement regarding property seizure is clear. Like everything else in Mexican
law, I will never be able to find verification.
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moisheh
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For starters there are no more FM3,s. It is now a residente temporal. Not needed to own property. You can do this with just an FMM>
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MMc
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Basic idea in Mexico's law, If you're not legal then nothing you sign is legal.
The first rule of purchasing land in Mexico," never invest more than you are willing to walk away from".
"Never teach a pig to sing it frustrates you and annoys the pig" - W.C.Fields
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El Jefe
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Who is Fidel Comiso?
No b-tchin\' in the Baja.
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