La Message Board Archives

Re: Presta Nombres

Posted by arbon on July 13, 2008, 8:29 pm, in reply to "Re: Presta Nombres"

"Quote Carol.

I would be very interested in hearing how the law has recently changed. My understanding is that it is impossible to have a bank trust until an ejido has regularized land, which is why local notarios continue to do presta nombre agreements. The illegality of the presta nombre only arises if there is an attempt to cheat the federal government out of money. There is no attempt if it is impossible to set up the bank trust. I am sure lots of you know lots more than me, so do chime in here."

The "Presta nombre" is/was legal for foreigners to use where it is legal for foreigners to buy land.

Such as in a municipal more than 50Kms from the coast or 100 Kms from the border.


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