Lucrative Property Investment, Protect Yourself South of Border; PM&D Issuing More Individual Fideicomisos Than Other Developers in Northern Baja California.SPOKANE, Wash. -- Parkstrong Management & Development (PM&D), a property management and development company working with Master-Planned, beachfront beach·front n. A strip of land facing or running along a beach. adj. Situated along or having direct access to a beach: beachfront hotels; beachfront property. Noun 1. and ocean view communities in San Felipe San Felipe (săn fəlē`pā), pueblo (1990 pop. 1,557), Sandoval co., N central N.Mex., on the Rio Grande; founded early 18th cent. The inhabitants are Pueblo of the Keresan linguistic family. Ceremonial dances are held there in spring and winter. , Mexico reported Monday that it has issued more than 150 individual land ownership trusts (Fideicomisos). By securing title through the Central Bank of Mexico The Bank of Mexico (Spanish: Banco de México), abbreviated BdeM or Banxico, is Mexico's central bank and lender of last resort. Banco de México is autonomous in exercising its functions. , a Fideicomiso provides irrevocable and absolute ownership rights and ensures that foreigners can legally own land in formerly restricted zones, beachfront and border areas, in Mexico. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mexican government records, PM&D has issued more individual Fideicomisos in Northern Baja California Baja California, state, Mexico Baja California (Span.: bä`hä kälēfōr`nyä), state (1990 pop. 1,660,855), 27,628 sq mi (71,576 sq km), NW Mexico, on the Baja California peninsula. Mexicali is the capital. than other real estate development companies in the region. Playa playa or pan or flat or dry lake Flat-bottomed depression that is periodically covered by water. Playas occur in interior desert basins and adjacent to coasts in arid and semiarid regions. de Oro and Playa San Rafael, two of PM&D's Master-Planned communities, have a combined 570 properties, each with its own individual Fideicomiso. Unlike other developments, PM&D's projects offer individual trusts rather than a master trust. A master trust is more like a condominium covenant where all owners are responsible for a single trust. This can lead to problems if any of the owners default because the others become responsible for the payment of the trust. "There is a complicated legal process that needs to be handled diligently by an attorney and public notary notary or notary public Public officer who certifies and attests to the authenticity of writings (e.g., deeds) and takes affidavits, depositions, and protests of negotiable instruments. in order to be legally recognized by the Mexican court system and government, said Lorn Landers, director of sales for PM&D. "We (PM&D) are happy to explain the step-by-step process of legally owning property in Mexico." First American Title Insurance also is offered with every lot or building sold at Playa De Oro or Playa San Rafael. The title insurance is issued from the United States specifically for Mexico. Other developers are using American brand title companies but are issuing the title insurance from Mexico, not the United States. PM&D manages and assists with every aspect of purchasing, building and managing properties for individuals and investors. For more information regarding Master-Planned communities managed by PM&D, visit www.PlayaSanRafael.com or call (888) 4-FELIPE (1-888-433-5473). |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion