Apache Posted September 22, 2017 Report Share Posted September 22, 2017 Selling my Lake Chapala home .of 25 years.Trust(Fideicomiso) created for property only mentions LAND VALUE which was conveyed by developer a year after purchase of this RESALE home. Initial owner built house on land purchased from developer with her own funds. Developer was unable to provide title to land. Title of land was conveyed after my purchase of the newly completed residential structure. HOUSE VALUE was not included in the trust created at time developer conveyed clear title to land. Need a reliable/skilled Notario to advise how house value can be included in cost basis for total investment dollars credited towards capital gains due when house is sold present time. Also, I have read that local 'notaries publicos' allow Residente Temporales to be exempted from capital gains taxes. Appreciate any assistance/information/notario referrals. on either or both problems? Thank you. Link to comment Share on other sites More sharing options...
kbleitch Posted September 22, 2017 Report Share Posted September 22, 2017 http://www.notarios.com.mx/Notario-Detail.asp?Notario=LUIS+ENRIQUE+RAMOS+BUSTILLOS&FileID=3021 Notario #2 Chapala Municipio - Luis Enrique Ramos Bustillos Many people in the area would say he's the best. He's very busy, so it would be best not to wait, depending on your timeline. You'll find the contact info in the link. Link to comment Share on other sites More sharing options...
mudgirl Posted September 22, 2017 Report Share Posted September 22, 2017 Yes, the notario will be able to tell you how it all works. But I do know that capital gains exemptions are based on selling price, the gains, as well as the amount of time that it has been your permanent residence. You can't just get a blanket exemption simply because you are a temporary or permanent resident. Link to comment Share on other sites More sharing options...
tomgates Posted September 22, 2017 Report Share Posted September 22, 2017 There is a $4 Million peso exemption per person. Need to have your RFC numbers on utility bills. Link to comment Share on other sites More sharing options...
Intercasa Posted September 22, 2017 Report Share Posted September 22, 2017 I can help with strategies as well as getting together all documents needed to lessen any capital gains liability. It may be a combination of things and your deed needs to be analyzed as well as it may depend on the bank holding the trust as each bank has different policies. Link to comment Share on other sites More sharing options...
kbleitch Posted September 22, 2017 Report Share Posted September 22, 2017 10 hours ago, tomgates said: There is a $4 Million peso exemption per person. Need to have your RFC numbers on utility bills. I have heard 2.25 million pesos per person, so a couple holding title jointly = 4.5 MM. Perhaps that's nit correct. And yes, to your RFC number(s) being on your utility bill. At our house, CFE account has one name/RFC and Telmex has other. Link to comment Share on other sites More sharing options...
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