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Re: what do you own ?

Posted by Jim on September 16, 2012, 7:54 pm, in reply to "what do you own ?"
24.84.16.77

esmitty

I think you are going around in circles.

You cannot "buy" a property --within 50 km of the ocean -- unless it has title. If, your property has title -- then, you can have indirect ownership via a bank trust. That is, you own the "entity" that owns the property. But, the ownership stays in Mexico -- which, I think, is the whole purpose. i.e. Mexican land remains governed by Mexican law. My understanding is that with this level of ownership (bank trust) you have legal standing before a Mexican court.


The alternative:
If, like us, you have "paid for" a property, and the legal title resides with an "agent" or Presta Nombre then, you do NOT own the property. The Presta Nombre owns the property and, as owner he/she leases the property to you. The Presta Nombre is the owner/lessor -- you are the leasee or "tenant". Think of yourself as a "tenant" and the limitation of your "rights" become apparent.

Jim
222

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