Putting MX condo in family trust

[dirtsurfer]

Hi Joan: Bizarre Mexican rules that consider a name change a sale but I get that it is Mexico. Joan, any chance you can direct me to someone who can get this done and tell me ahead of time what the fees, taxes and closing costs would be?

 

[joanC]

Hi Joan: Bizarre Mexican rules that consider a name change a sale but I get that it is Mexico. Joan, any chance you can direct me to someone who can get this done and tell me ahead of time what the fees, taxes and closing costs would be?

I would contact Pablo Davila at [email protected] at 011-52-638-383-3483 or his direct cell 011-52-638-380-5110. As a notary he can tell you the cost of the Mexican portion, and likely refer you to a good attorney in USA who can incorporate the LLC. He speaks very good English.

 

[Landshark]

Hi:
You mentioned in your post that you changed ownership on a home in Mexico to an LLC in the states. I lost my mom on Christmas Eve and I am buried in closing her estate. This made me think that it would be smart to change the ownership of my house in Miramar from mine & my wife’s name to an LLC in the states like you did. Would you be willing to share with me the attorney or people who helped you to get through the paperwork

This is the attorney that helped us. He did a great job and we wouldn’t consider using anyone but him. He is currently helping us update our bank trust with current LLC info. We had an American guy help us with north of the border issues during the conversion. They knew each other and worked well together. I can share his info as well. PM me if interested.

 

[dirtsurfer]

This is the attorney that helped us. He did a great job and we wouldn’t consider using anyone but him. He is currently helping us update our bank trust with current LLC info. We had an American guy help us with north of the border issues during the conversion. They knew each other and worked well together. I can share his info as well. PM me if interested.
View attachment 16897
[/QUOTEThank you.

 

[kahunito]

Does anyone have a recommendation for a Notario in PP? Our realestate company wants to use Jorge Valdes at Real Consulting but I am thinking of hiring a notario to double check everything.

 

[Roberto]

Not sure why you need an abogado, other than having unnecessary fees added. . A Notario has to process everything. Mind sharing the name of your real estate company??

 

[golfandswiminrp]

Transferring to another name, or even adding a name, is treated as a sale, and all typical closing costs, including payment of capital gains, transfer tax, notary fees, appraisal costs, Bank trust costs, etc, are required. However, once in the name of an LLC selling can be easier because the new buyer has only insignificant expense and the Mexicans are left out of the process. Once you have the LLC registered in USA the matter goes to a Mexican Notary of your choice.

I heard from my agent that in 2021, there is a rule that prevents transferring of US LLCs. Anyone have additional details on the new rule?