INSIDE LAKESIDE
Log In or Register

Check your spam/junk folder for activation e-mail after you register.

Join the forum, it's quick and easy

INSIDE LAKESIDE
Log In or Register

Check your spam/junk folder for activation e-mail after you register.
INSIDE LAKESIDE
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Probate?

+3
Intercasa
David
Chico
7 posters

Go down

Probate? Empty Probate?

Post by Chico Mon Jun 04, 2012 5:23 pm

A U.S citizen just passed away in the States, after living in Mexico for over 25 years. She owned 3 properties in lakeside. When she purchased these properties, she put the title into the names of her children, also US citizens.
She was not listed on any title, only her children. A different child for each of the three properties, who are all adults. She does not have a Mexican will, but a U.S. will that reaffirms her children's ownership of her properties.

Asking at the request of her family, my question is are her children now the legal owners of her properties in Mexico or will they have to go through the lengthy and expensive probate court system here to be legally recognized, under Mexican law, as the owners? Thank you for your help.

Chico
Share Holder
Share Holder

Posts : 511
Join date : 2012-05-30

Back to top Go down

Probate? Empty Re: Probate?

Post by David Mon Jun 04, 2012 5:32 pm

If their name is on the Deed then they are (and apparently always have been) the owner.
David
David
Share Holder
Share Holder

Posts : 5003
Join date : 2010-04-05
Location : Ajijic
Humor : Good

Back to top Go down

Probate? Empty Re: Probate?

Post by Intercasa Mon Jun 04, 2012 6:12 pm

Best practice for the children to have the original copies of the deeds to see for sure and even after a certificate of no liens which will show who is on title and that there are no liens on the property.

Remember the kids may need to get FM2s if they want to sell and not pay any capital gains.
Intercasa
Intercasa
Share Holder
Share Holder

Posts : 2999
Join date : 2010-04-05
Age : 53
Location : Chapala / Zapopan
Humor : Barbed wit

Back to top Go down

Probate? Empty Re: Probate?

Post by Jim W Mon Jun 04, 2012 6:58 pm

Intercasa wrote:Best practice for the children to have the original copies of the deeds to see for sure and even after a certificate of no liens which will show who is on title and that there are no liens on the property.

Remember the kids may need to get FM2s if they want to sell and not pay any capital gains.



Great point Spencer.......Wife and I weren't married, when I bought our home.....MX gov would not allow the home for my new wife..name should I die .couldn,t put it her name...only in my children's name.


go figure
Jim W
Jim W
Share Holder
Share Holder

Posts : 5152
Join date : 2010-04-24
Age : 76
Location : Chapala
Humor : Whenever I need it!

Back to top Go down

Probate? Empty Re: Probate?

Post by hockables Mon Jun 04, 2012 7:00 pm

Dude...u might be safer that way... Shocked
hockables
hockables
Share Holder
Share Holder

Posts : 3748
Join date : 2010-04-06

Back to top Go down

Probate? Empty Re: Probate?

Post by manymoonsago Mon Jun 04, 2012 7:06 pm

Definitely the children need to gather up every piece of documentation pertaining to the properties--deed or bank trust, the payment history w/r to taxes, water bill, etc., rental agreements if any, capital improvements, if any, etc., etc. -- and retain a US attorney who is bilingual and experienced in estate and real property matters on both sides of the border to work with them and an attorney here. They definitely should not get rid of any paperwork pertaining to the properties and their mother's 25 years here until all the dust has cleared.
manymoonsago
manymoonsago
Share Holder
Share Holder

Posts : 210
Join date : 2012-05-11
Humor : Ironic; Over the Edge

Back to top Go down

Probate? Empty Re: Probate?

Post by manymoonsago Mon Jun 04, 2012 7:14 pm

Jim W: if you hold title your property through a bank trust, you are not limited to naming lineal descendants as heirs and yet can remain "safe" in the world according to Hockable as well as protect your wife.

manymoonsago
manymoonsago
Share Holder
Share Holder

Posts : 210
Join date : 2012-05-11
Humor : Ironic; Over the Edge

Back to top Go down

Probate? Empty Re: Probate?

Post by hockables Mon Jun 04, 2012 7:31 pm

manymoonsago wrote:Jim W: if you hold title your property through a bank trust, you are not limited to naming lineal descendants as heirs and yet can remain "safe" in the world according to Hockable as well as protect your wife.


Hoxx was just making a little Joke...

********

I fail to see the problem, or maybe even the issue here...

Someone has passed away... that persons name is not on Property Titles...???
No need of Death Certificate

Seems someone should tell the owners about their properties and that they need to pay the Taxes...

Spencer has stated more importantly... they might need an FM2 to sell and avoid taxes...

With regards to US... would there be an applicable Estate Tax to be addressed?...
Is there an existing Tax Treaty between US & Mexico?


**********************************************************

hockables
hockables
Share Holder
Share Holder

Posts : 3748
Join date : 2010-04-06

Back to top Go down

Probate? Empty Re: Probate?

Post by Chico Mon Jun 04, 2012 7:49 pm

Intercasa wrote:Best practice for the children to have the original copies of the deeds to see for sure and even after a certificate of no liens which will show who is on title and that there are no liens on the property.

Remember the kids may need to get FM2s if they want to sell and not pay any capital gains.

Thanks Spencer, The heirs do have the original deeds and I have the copies. Two of the three properties are multi units and one is a vacant lot. They were purchased between seven and 15 years ago, depending on the property. Not interested in selling in this market, just want to be sure that they are owners under Mexican law. Cannot imagine there are any liens, but how do they go about checking to find out? Actually, back to my original question. do they need to go through the probate system in Mexico or are they good to go as owners, under the laws of Mexico, wth the documentataion that they have? Chico.

Chico
Share Holder
Share Holder

Posts : 511
Join date : 2012-05-30

Back to top Go down

Probate? Empty Re: Probate?

Post by manymoonsago Mon Jun 04, 2012 9:10 pm

Hey, Hoxx, I know it was a joke....and, it might even be true in some cases!
But, in 30 years of practicing law, among the most unforgettably horrid situations I saw too many times were elderly and often impaired men or women being dispossessed of their familiar residence by stepchildren whose deceased parent had forgotten about an old Will predating the marriage that left everything to the children. In most states, NOB, there were legal remedies, but it was heartbreaking and sometimes down and out brutal nonetheless. The questions you raised were excellent.

Chico: why aren't your friends making an appointment to meet with Spencer instead of asking for free legal advice? It seems they have a lot at stake and unless they are more knowledgeable than they sound, they are going to need a lot of help to fulfill their responsibilities as landowners here and navigate the labyrinthine depths of pertinent US/Mexico laws.
manymoonsago
manymoonsago
Share Holder
Share Holder

Posts : 210
Join date : 2012-05-11
Humor : Ironic; Over the Edge

Back to top Go down

Probate? Empty Re: Probate?

Post by David Mon Jun 04, 2012 9:13 pm

No one asked for free legal advice.
David
David
Share Holder
Share Holder

Posts : 5003
Join date : 2010-04-05
Location : Ajijic
Humor : Good

Back to top Go down

Probate? Empty Re: Probate?

Post by Intercasa Mon Jun 04, 2012 9:42 pm

Also they need to have a trusted person manage the property and watch to avoid squatters and other scammers
Intercasa
Intercasa
Share Holder
Share Holder

Posts : 2999
Join date : 2010-04-05
Age : 53
Location : Chapala / Zapopan
Humor : Barbed wit

Back to top Go down

Probate? Empty Re: Probate?

Post by CheenaGringo Mon Jun 04, 2012 9:45 pm

Quoting Terry: "Cannot imagine there are any liens, but how do they go about checking to find out? Actually, back to my original question. do they need to go through the probate system in Mexico or are they good to go as owners, under the laws of Mexico, wth the documentataion that they have? Chico."

If the above isn't trolling for advice, I am not sure what it is.

CheenaGringo
Share Holder
Share Holder

Posts : 6692
Join date : 2010-04-17

Back to top Go down

Probate? Empty Re: Probate?

Post by hockables Mon Jun 04, 2012 9:48 pm

CheenaGringo wrote:Quoting Terry: "Cannot imagine there are any liens, but how do they go about checking to find out? Actually, back to my original question. do they need to go through the probate system in Mexico or are they good to go as owners, under the laws of Mexico, wth the documentataion that they have? Chico."

If the above isn't trolling for advice, I am not sure what it is.

we really should have a smiley with a fish'n pole... just reeling them in....lol razberry
hockables
hockables
Share Holder
Share Holder

Posts : 3748
Join date : 2010-04-06

Back to top Go down

Probate? Empty Re: Probate?

Post by CheenaGringo Mon Jun 04, 2012 9:57 pm

[img]Probate? Timmy_10[/img]

CheenaGringo
Share Holder
Share Holder

Posts : 6692
Join date : 2010-04-17

Back to top Go down

Probate? Empty Re: Probate?

Post by Intercasa Mon Jun 04, 2012 10:37 pm

I don't see the need for probate for the real estate as if it was in the name of others it was not her property and not part of her estate but then again there could be more to it
Intercasa
Intercasa
Share Holder
Share Holder

Posts : 2999
Join date : 2010-04-05
Age : 53
Location : Chapala / Zapopan
Humor : Barbed wit

Back to top Go down

Probate? Empty Re: Probate?

Post by Chico Tue Jun 05, 2012 9:39 am

Intercasa wrote:I don't see the need for probate for the real estate as if it was in the name of others it was not her property and not part of her estate but then again there could be more to it

Appreciate your help Spencer. When they do come down, I will definitely recommend that they make an appointment with you.

Chico
Share Holder
Share Holder

Posts : 511
Join date : 2012-05-30

Back to top Go down

Probate? Empty Re: Probate?

Post by Chico Tue Jun 05, 2012 3:21 pm

Intercasa wrote:Also they need to have a trusted person manage the property and watch to avoid squatters and other scammers


Properties are occupied and managed. Vacant lot has a chain link fence around it and a locked gate and is checked on weekly, but thanks for the good info, Spencer, as some folks in this position might now know it. chico.

Chico
Share Holder
Share Holder

Posts : 511
Join date : 2012-05-30

Back to top Go down

Probate? Empty Re: Probate?

Post by Sponsored content


Sponsored content


Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum