AboutDale Gress Expertise I am familiar with Puerto Vallarta-activities-art-locations of cyber cafes -churches- tile & glass factories. I have travelled by bus to Guadalara on several occassions and enjoy the market at Tonalah. I have also visited Lake Chapala (it snowed when I was there in Dec. 1997-left for the beach and the sun). This year I will travel to Morelia. I have also been to Puerto Escondido and Mexico City. I am familiar with purchasing property in the restricted zone and the use of bank trusts and Notarios. I love Mexico and it`s people. We recently sold our condo in Vallarta and we are in the process of purchasing one in Manzanillo, Colima. We have visited Mata Ortiz, Zacatecas, Guanajuato Morelia
Experience I have been to Puerto Vallarta over 20 times and recently purchased a condo near the port. In January 2000, I drove my 1984 Volkswagen Van from Yakima Wa. to PVR. I have been studying Spanish for 3 years and I am getting better all the time. We have sold the condo in Vallarta and are moving to Manzanillo, Colima.
Question Hi Dale,
I bought a piece of land in San Felipe, Mexico a few year ago. Now the seller want me to establish an individual trust, it is now in the master trust. The seller recommended their own service, but the cost is kind of high. Is there any other way to cut the cost (for examples: hire a paralegal..)?
I also planning to retire in Mexico soon, should I wait until I become a Mexican citizen to avoid the trust?
Is it easier to resell the property to US citizen if the trust already established?
Thank you for answering the questions
Answer I really do not have an answer for this. I am not sure what a master trust is vs an individual trust.
You will have to use a Notario to set up the trust with a bank.
The important item for a buyer is that the property is not ejido land. You want to make
sure that the property has been regularized before you buy. The buyer can take over your trust but there is no real savings to the buyer. In fact the trust holder gets to double dip by charging the seller to make the change and charging the buyer to assume the trust.
