It's a shame they didn't go further and eliminate the restrictions on foreign ownership, altogether. Just having the property in my own name hardly offers me any convenience worth talking about, at this point; and, to realize any savings by ditching the fideicomiso I'd have to have a longer time frame than I currently have. It will probably take a while to implement, giving those in my situation time to consider whether any changes will truly be of value to them. Those who are first time buyers, who are satisfied to own property that can only be put to personal, residential use, with no commercial use allowed, will potentially benefit.
fideicomiso Speak for yourself. This is all I want out of it, and I'm sure there are many others who would be happy with it. If this passes, I'll get rid of the fidei no matter what it takes. It doesn't appear it will be happening at all, anyway. It doesn't seem to be on their agenda for today, and tomorrow is the "last day of school" for the senate. How much will they get done? The change needs a 2/3 vote of the senate, then approval by 2/3 of the state legislatures, so we're still a long way from this.
I've got zero emotional investment in how the property is titled so, for me, it's all about "cost vs benefit". When we see how it all falls out, and what the total cost of transfering my own property from the trust to me would be, then I can decide if it's worth it. Without yet knowing the numbers, but knowing that I might have to pay an acquisition tax, as well as all the fees associated with buying a property, I can't say what I'll think about it. It might just be adding one more transfer of title to the ultimate sale of the property to a third person.
It's not emotional. It's about paying hundreds of dollars a year, plus an increase every year, for as long as you own your home. Even then, when you sell your home you'll still have to pay all those fees. I don't think you'll see any savings in the end by retaining the fideicomiso. I never let emotion enter into my finances. I'm sure the whole thing is going to be complicated and expensive any way you look at it. With the dollar falling steadily, costs are going to go up automatically, whichever way it goes.
my understanding is we will need a full cosing including all taxes and fees, depending on the value of your property it will be expensive, I figure about 5,000 pesos for every $100,000 in property value As V stated personally I will leave my properties in a trust, as the cost does not outweigh the benefit, this will be good for new buyers but nothing great for existing owners unless you plan on holding your property for 10 plus years
