law about owning

[azfish]

It probably was covered already some where, but here it goes. If you buy a place in Mexico and your a US citizen. Can you will it to your kids when you die or sell it to someone else at any time with no penalties. Can the government ever come and say, we want our land back and boot you out?

Thanks Rob

 

[lagrimas85]

Ownership in Mexico The laws in Mexico may have been requested by the United States. That figures. I don't think the government, would take your property, unless you would consider a judge who ruled agaist a property buyer, that bought something he shouldn't have bought and not necessarily from a crook, but from somebody who didn't do they're paperwork correctly to begin with. I know a few of those. Also out of the restricted zone you as foreigner can hold a simple title, no bank trust.

 

[Roberto]

That article Lagrimas posted to covers the basics real well.

When you get the Bank Trust you will be asked to name 'beneficiaries' in your trust. If you croake, the Bank Trust automatically goes to beneficiaries who can then apply to change the names on the trust to their names. Simple process.


Most, if not all, the people who have lost land they thought they owned acquired it by illegal or real shakey means in the first place. The
'trusted friend' method of holding property is illegal for example. Others, prior to the availability of the Bank Trust, acquired the use of the land via a lease with a promise to sell and the leaser or family members backed out of the lease.

 

[lagrimas85]

I lost some land in Maricopa a few years ago because of this law so it happens in the U.S. too. I lost a little over 3 acres.http://uk.ask.com/wiki/Adverse_possession says Uk but its the same in the states. But I came out of the deal with a big smile on my face as in Happy Camper.

 

[Mentiras y Traición]

That article Lagrimas posted to covers the basics real well.

When you get the Bank Trust you will be asked to name 'beneficiaries' in your trust. If you croake, the Bank Trust automatically goes to beneficiaries who can then apply to change the names on the trust to their names. Simple process.


Most, if not all, the people who have lost land they thought they owned acquired it by illegal or real shakey means in the first place. The
'trusted friend' method of holding property is illegal for example. Others, prior to the availability of the Bank Trust, acquired the use of the land via a lease with a promise to sell and the leaser or family members backed out of the lease.

Unless that property is in Las Conchas. Then it doesn't matter if you are the beneficiary of a bank trust as long as you are a friend to the HOA. The HOA will then do everything it can to help you gain and maintain control of the property...trust be damned!

 

[azfish]

Thanks for all the info.