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Re: what do you own ?

Posted by Jim on September 22, 2012, 11:17 am, in reply to "Re: what do you own ?"
24.84.16.77

The land ownership structure for foreign nationals dictated by the Mexican Constitution is, for me, a positive factor.

We have "purchased" our La Manz property as a family "enclave" or vacation home. The intent is for it to be passed on to subsequent generations. Because La Manz is far removed from the normal residences of our families and thus limits its regular use -- we foresee minimal scheduling conflicts -- unlike the customary "drive to the lake weekend/summer cottage".

The "bank trust" ownership structure then, becomes a positive factor because it easily allows the change of ownership between generations and facilitates the adoption of a family "Mission Statement" regarding the property.

Renting of the property when not used by family members then, becomes a means of providing a cash flow to offset the property maintenance. The renting also ensures that during periods of time (perhaps years) when no family members are inclined to visit La Manz -- there is no need to sell the property.

Jim
162

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