playaperro
El Pirata
Story from tucson citizen. When will they learn.
http://www.tucsoncitizen.com/ss/busines ... 114009.php
http://www.tucsoncitizen.com/ss/busines ... 114009.php
Developer's resort dream turns to nightmare
- Thread starter playaperro
- Start date
Yeah, the AZ Republic had this same sad story front page today.
I kind of feel sorry for the guy. He did everything right, even bought title insurance, and still got screwed by the ejido. Now he's out about $850k and can't do anything with a piece of beach he rightfully bought and paid for.
Viva Mexico! :mexico: :mexico: :mexico:
I kind of feel sorry for the guy. He did everything right, even bought title insurance, and still got screwed by the ejido. Now he's out about $850k and can't do anything with a piece of beach he rightfully bought and paid for.
Viva Mexico! :mexico: :mexico: :mexico:
Buying ejido land in Mexico is only slightly less difficult than buying Indian reservation land in the US and is fraught with future obstacles after the 'sale' is consumated if an ejido member decides that he/she was not consulted during the process. For the Mexican government it can be a political time bomb since the promises of land reform going back to the Mexican revolution are yet to be delivered.
Jim
Guest
I put 50% down on a 1 Hectare parcel in Ejido Lopez Acevez 3 years ago and am still fighting it. I had bought 2 other parcels from the lady and had no problems. Unfortunately, she died before the red tape was finished and the husband is not very cooperative. It is close to resolve but has been a pain. On the other hand, I have bought several properties outside Ejido land with no bad experiences to report.
C
cactusamigo
Guest
People never learn. They do in a foreign country what they would never do in the U.S. Buy only private property, or from a reputable developer. "Title insurance" is a worthless U.S. scam recently transplanted to Mexico, where it is even more worthless. Mexicans aren't even aware of the concept. If you don't believe me, do your own research.
M
mexmac
Guest
The word for the is due dilligence. If he had done just a little investigating he would have know about the title status. Also if he did proceed to banktrust the notario would have discovered the ejido had the use of the land. Something more is wrong here and this isn't the entire story.