A question, please. What happens when the fideicomiso expires. It is understood to be a 30 year "lease". For foreigners, that means the property reverts back to the government. Do you somehow "renew" it or do you have to? Thanks!
It is important to understand the annual payment for the fideicomiso, who holds it, and where payments are made. Property taxes are also due once a year. Thankfully, there are now more options for who holds your fideicomiso, as it used to be a handful of banks holding a monopoly and charging high fees. There are now parties who charge half the old fee, so ask your lawyer who they use and at what price. US residents may find the closing costs to be exorbitant. Some things are cheaper in Mexico, but not legal fees. There are also warnings about buying land in ejidos, where land may not have been previously subdivided. There are extra steps in getting a clear title on those properties.
A question, please. What happens when the fideicomiso expires. It is understood to be a 30 year "lease". For foreigners, that means the property reverts back to the government. Do you somehow "renew" it or do you have to? Thanks!
It is important to understand the annual payment for the fideicomiso, who holds it, and where payments are made. Property taxes are also due once a year. Thankfully, there are now more options for who holds your fideicomiso, as it used to be a handful of banks holding a monopoly and charging high fees. There are now parties who charge half the old fee, so ask your lawyer who they use and at what price. US residents may find the closing costs to be exorbitant. Some things are cheaper in Mexico, but not legal fees. There are also warnings about buying land in ejidos, where land may not have been previously subdivided. There are extra steps in getting a clear title on those properties.
What do they have in the low 100k down there