If you are thinking of buying or selling property in Puerto Vallarta, Mexico here are the most important Spanish words you’ll need to know in real estate transactions.
Ejido: Farming land owned by a legal entity, or group called the Ejido. Collective land that can now be privatized. Foreigners cannot acquire rights to Ejido property. Through a proper process, the Ejido can sell to a Mexican individual. The Mexican can then sell to a foreigner.
Escritura Publica: The document issued by the notary to transfer ownership of property. The escritura is a public deed. If there is bank trust for foreign ownership it is described in the escritura. In the escritura the bank defines its authority and sets out its fees. The time to negotiate the terms of this agreement is at the beginning of the purchase process.
Electric and phone bill must match the legal description of your escritura. You have discovered that your address or name in the deed does not match what is on your phone or electric bill. Yes, the bills are paid to the person you pay to do this, but this system can be a problem when you decide to sell. The system we usually follow before we decide to sell doesn’t have the checks and balances it should.
Generation Y or the Millennials are persons born in the 1980s and 1999. They are estimated to be 70 million strong. Age is typically 20 years old to 38 years. **Millennials are individualistic, innovative, creative, revel in diversity, multi-taskers, and go by their own rules. M´s rely on their intuitive sense to understand technology from the environment in which they have grown up. They can bring a more creative and innovative approach to solving problems than previous generations.
This article is about all condos: pre-construction, new developments, as well as resales. There is a particular ethical and moral way in which buyers and sellers should deal with each other, and most of the time, the person who has to keep the negotiation on this level is the agent (agents) involved. This is our responsibility to recognize and require that everyone involved work on the highest level of reason and fairness.