Kenny
Guest
So there's a bank trust in place for each house? OK, but who set up the corporation?
Little houses in Cholla Bay
- Thread starter mexicoruss
- Start date
GV Jack
Snorin God
Pardon my ignorance, but wouldn't you do that on any home purchase down there.
jerry
Guest
you would think but not how the game is played on properties with bad titles
mexicoruss
Lovin it in RP!
Ok before this post gets out of hand with intimations and all.
These houses had perfected bank trust already, they were what is called "rectified" they had no problems at all, they were purchased from the American owners through the standard bank trust system, they are now held in a Mexican Corporation that also is clean. As it is now they are "assets" of the corporation and as such can easily be transferred out of the corporation when they are purchased from the corporation. The bank will not proceed with the sale unless the trust can be easily obtained in the asset purchasers name.
The problems Cholla Bay had along with other properties in Mexico in general are being resolved. All properties in Cholla Bay are being rectified on a piece by piece program. In the past folks would buy a piece of property without doing any kind of search into it's background and some had problems. They hand over the money to the seller and "hoped" they would get a trust. Sorry folks but you must use an attorney and work through the system to avoid future problems.
GV is right. If you buy a piece of property with or without a house on it without checking into it's past are taking a chance.
I personally own properties that are not rectified yet. We got a good deal on them and we are going through the rectification process to clean them up and standardize them for Bank Trust and eventually title. It is not difficult it is just time consuming.
The use of the term "bad titles" is a misnomer - they houses either have "Bank Trust" or not.
These houses had perfected bank trust already, they were what is called "rectified" they had no problems at all, they were purchased from the American owners through the standard bank trust system, they are now held in a Mexican Corporation that also is clean. As it is now they are "assets" of the corporation and as such can easily be transferred out of the corporation when they are purchased from the corporation. The bank will not proceed with the sale unless the trust can be easily obtained in the asset purchasers name.
The problems Cholla Bay had along with other properties in Mexico in general are being resolved. All properties in Cholla Bay are being rectified on a piece by piece program. In the past folks would buy a piece of property without doing any kind of search into it's background and some had problems. They hand over the money to the seller and "hoped" they would get a trust. Sorry folks but you must use an attorney and work through the system to avoid future problems.
GV is right. If you buy a piece of property with or without a house on it without checking into it's past are taking a chance.
I personally own properties that are not rectified yet. We got a good deal on them and we are going through the rectification process to clean them up and standardize them for Bank Trust and eventually title. It is not difficult it is just time consuming.
The use of the term "bad titles" is a misnomer - they houses either have "Bank Trust" or not.
Roberto
Guest
Senor Toe;
Just saw this and I know of 3 very nice, almost identical, 2 bed, 2 bath homes in the Mirador, fenced and gated yards. Fully furnished in super condition. $125K, $127,5; and $130K. All have a current bank trust. 3 blocks to the Mirador beach in a quiet neighborhood.
Roberto
Guest
I'm confused. Is 'rectified' a legal Mexican term or are you using it in it's dictionary meaning?
Rectified means Corrected to Webster. So if they had no problems at all and had perfected bank trusts, what needed to be 'rectified'? Who rectified them, you or the seller?
What do you mean 'Clean them up and standardize them for Bank Trust and eventually title? You intend to put them into a trust then into a Mex title after they are 'corrected"???
How can one purchase a property that the seller's ownership documents need to be corrected??
Property can be held with a Mexican Title under the right circumstances.
jerry
Guest
I hope rectify does not have the same "nod and a wink" meaning that I heard it used in regards to titles south of Lobos a few years ago.Money paid to functionaries in the office wipe the records clean did not work in the long run.So what 'rectified' means and who did the rectification in this case is of interest.
Cholla bay bank trust
Guest
Hi jerry
I am the person headed up the bank trust movement in cholla bay. You can check out my history on the Hoa news letters and other postings I have done. I see you and other members have posted my publishings. Thank you for that.
Education of the legal body of a bank trust is a must for any one buying in rocky point.
I am the person headed up the bank trust movement in cholla bay. You can check out my history on the Hoa news letters and other postings I have done. I see you and other members have posted my publishings. Thank you for that.
Education of the legal body of a bank trust is a must for any one buying in rocky point.
Cholla bay bank trust
Guest
I am working on putting together a work shop every third sat to explaine the rectification process and other bank trust issues.
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Cholla bay bank trust
Guest
Retracted
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jerry
Guest
Cbbanktrust and Russ I was not trying to be a dick about this just time to have it all right so guys like Padres and this homeport "expert" don't rip it off later
Hermosillo, Sonora.- Today at noon was held a federal court hearing in the Fifth District Court based in Hermosillo where the drug lord Alfredo Alvarez Vergara demand protection against SEDATU (Ministry of Agrarian Development, Territorial and Urban ) because this secretariat not want titularle a national land in Puerto Penasco he already sold and charged for his part.
According to a document that makes us reach one of the affected parties and requesting privacy given the dangerous Alfredo Vergara ties to organized crime, for several years the known drug dealer, now apparently expert in nautical tourism (Home Port) and "acquisition" of National Lands ( Hippodrome in Hermosillo , Ejido Heraclio Bernal in Caborca ), for several years has been marketing public lands covered by a duckling title that the notary known Hermosillo, Attorney José Otero Valenzuela , he built on a judicial decision distorted, in an area of thousands of hectares in Puerto Penasco. After being sold land at $ 30,000 per hectare, suddenly "remembers" that has not yet acquired the Nation and proceeds to try to make the process of obtaining title. And as the SEDATU of Jorge Carlos Ramirez Marin , the irregularities and despite his connections, not yield to their demands, the demand via an injunction. They want me to sell them and they sell them cheap.
In the list of buyers of such illegal land titles that have awarded Vergara and partners with strong peso and dollar amounts, various natural and legal persons and foreign Sonora they appear. The list includes all types of buyers, from tourism entrepreneurs and gasoline, up suspects ombudsmen in the "movement of goods" on our border with the United States
Roberto
Guest
So to understand what rectification means we need to take your seminar. Surely you can do better than that
GV Jack
Snorin God
My doctor says everyone should have one every ten years.
