Rocky Point Times Editorial.

[playaperro]

True, but when they later introduced the 50 year fidecomisos with the 50 year renewal option, it was widely presumed that the older ones would be grandfathered in with them, as I understood it.

The las conchas first issued bank trusts expire when the master trust expires, date is on the bank trust, try telling that to the bank you want grandfathered in, for 1500 bucks they will tell you and that's a bargain, the list of banks doing trusts is about 7 long with the cheapest at $3000. I don't know maybe 680 houses in las conchas and also lots needs trusts too.

 

[JimMcG]

The las conchas first issued bank trusts expire when the master trust expires, date is on the bank trust, try telling that to the bank you want grandfathered in, for 1500 bucks they will tell you and that's a bargain, the list of banks doing trusts is about 7 long with the cheapest at $3000. I don't know maybe 680 houses in las conchas and also lots needs trusts too.

My comments were stricktly referring to individual trusts, but if $3,000 would ensure an individual 50year/50 year renewable trust, completely divorced from the master trust, it might be worth pursuing. Otherwise if not possible, and the option is to let a trust expire with the master, $1,500 for a 20 year renewal is the way to go.

 

[fatboyharley]

It is $1500 a year My individual trust ( I am not under the master trust) is only $350 a year for a 50 year trust

 

[JimMcG]

It is $1500 a year My individual trust ( I am not under the master trust) is only $350 a year for a 50 year trust

$350/year trust maintenance fee is actually lower than some other subdivisions but $1500/year would certainly change the equation.
Ironically, Las Conchas used to be thought of as a model, beachfront development, reputed to be progressively well run, secure, to later include a desalination plant etc, but it seems to be going through some rocky times currently. I hope it all works out.

 

[playaperro]

It is $1500 a year My individual trust ( I am not under the master trust) is only $350 a year for a 50 year trust

It's $1500 to extend the bank trust for 20 years and the regular $350 a year maintenance fee, you are very fortunate you are not in the master trust.

 

[MIRAMAR]

Ours in Miramar is around $350/year as well from Scotia Bank.for the 50 year trust renewable in 2054. They don't have an office in Penasco, so the head of Bank Trusts from Hermosillo drives up for our Spring HOA meeting, and you can pay then w/ a bank receipt. Otherwise, you have to try to make a payment in either Caborca or Nogales (which is a pain) or Hermosillo.

 

[playaperro]

$350/year trust maintenance fee is actually lower than some other subdivisions but $1500/year would certainly change the equation.
Ironically, Las Conchas used to be thought of as a model, beachfront development, reputed to be progressively well run, secure, to later include a desalination plant etc, but it seems to be going through some rocky times currently. I hope it all works out.

$350/year trust maintenance fee is actually lower than some other subdivisions but $1500/year would certainly change the equation.
Ironically, Las Conchas used to be thought of as a model, beachfront development, reputed to be progressively well run, secure, to later include a desalination plant etc, but it seems to be going through some rocky times currently. I hope it all works out.

The only rocky times are when Kenny shows up in his fish scarin outfit! LOLX2

 

[JimMcG]

Ours in Miramar is around $350/year as well from Scotia Bank.for the 50 year trust renewable in 2054. They don't have an office in Penasco, so the head of Bank Trusts from Hermosillo drives up for our Spring HOA meeting, and you can pay then w/ a bank receipt. Otherwise, you have to try to make a payment in either Caborca or Nogales (which is a pain) or Hermosillo.

Miramar seems to have also come a long way after regularising trust ownership, from what it was when I first visited many years ago. After that I noticed a huge uptick in remodeling, fresh paint jobs and additions being constructed. Quite
positive in comparison to the early days.

 

[JimMcG]

The only rocky times are when Kenny shows up in his fish scarin outfit! LOLX2

No pics please.

 

[playaperro]

Had to look and see what encanto looks like these days

 

[playaperro]

$350/year trust maintenance fee is actually lower than some other subdivisions but $1500/year would certainly change the equation.
Ironically, Las Conchas used to be thought of as a model, beachfront development, reputed to be progressively well run, secure, to later include a desalination plant etc, but it seems to be going through some rocky times currently. I hope it all works out.

It is $1500 a year My individual trust ( I am not under the master trust) is only $350 a year for a 50 year trust

You are right FBH, they want $1500 a year to extend contract and 2 years up front, Expire's nov. 2017 maybe by then some banks and notorios will come up with a better bargain.

 

[JimMcG]

You are right FBH, they want $1500 a year to extend contract and 2 years up front, Expire's nov. 2017 maybe by then some banks and notorios will come up with a better bargain.

After two years and $3,700, you still will not have a renewed 50 trust and have to start over again?

 

[chihauhau]

Ours in Miramar is around $350/year as well from Scotia Bank.for the 50 year trust renewable in 2054. They don't have an office in Penasco, so the head of Bank Trusts from Hermosillo drives up for our Spring HOA meeting, and you can pay then w/ a bank receipt. Otherwise, you have to try to make a payment in either Caborca or Nogales (which is a pain) or Hermosillo.

Oh how convenient to pay, but what about the banks no longer excepting US checks now. Isn't there a lady from Dorado doing bank transfers also for a small fee? Seems more safer. Just a thought.

 

[JimMcG]

Oh how convenient to pay, but what about the banks no longer excepting US checks now. Isn't there a lady from Dorado doing bank transfers also for a small fee? Seems more safer. Just a thought.

At least one bank has always billed in and accepted US dollar checks for trust payments.

 

[playaperro]

Oh how convenient to pay, but what about the banks no longer excepting US checks now. Isn't there a lady from Dorado doing bank transfers also for a small fee? Seems more safer. Just a thought.

Got a name, You know how insurance agents are still doing audits, not to mention the disappearance of Ramon!

 

[JimMcG]

Was the whole Rocky Point, insurance coverage situation finally explained and resolved after all the discussion was halted?

 

[MIRAMAR]

"Oh how convenient to pay, but what about the banks no longer excepting US checks now. Isn't there a lady from Dorado doing bank transfers also for a small fee? Seems more safer. Just a thought."

Scotia hasn't mentioned not accepting American bank checks. They do take cash, or a Credit card payment.

 

[fatboyharley]

Was the whole Rocky Point, insurance coverage situation finally explained and resolved after all the discussion was halted?

NO

 

[JimMcG]

NO

I would be curious to know where Rocky Point visitors are getting their insurance these days, given all of the previously expressed uncertainty.

 

[Hillbeartoe]

I would be curious to know where Rocky Point visitors are getting their insurance these days, given all of the previously expressed uncertainty.

I was thinking the same thing. Truthfully I would be a nervous wreck with all of this if I owned down there, and not owning would make me wait to take the plunge until there were some definitive answers.

Who/what the hell can you trust down there?

Where the hell is JWT when you need her?