There was a big to-do in Baja a few years ago. And yes, these owners did not have clear title to the land. A Mexican judge found that the family that granted the leasehold interests to the Americans were not the rightful owners. This problem dated back to the early 20th century.I cannot answer your questions directly regarding the financial implications. Everyone I know that does the same thing deals strictly in dollars. Including local taxes.Due diligence is the key here. Know that you do not own the property by the coast, but that it is placed in a land trust. It is written in the Mexican constitution that foreigners cannot own property within a certain distance of the coast. US title insurance is now available in Mexico as well.I have met several individuals who do the same thing. Perhaps you should contact them directly. If you do not feel comfortable contacting "competitors" do a web search for other destinations such as San Filpe or Puerto Penasco.Good luck.John.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra