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capital gains exemption


lucky one

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PLEASE! Do not repeatedly hit the "post" button as it results in multiple entries. You managed to start this topic 6 times, that's some kind of a record. WAIT for the software, it is slow but it will post.

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They will ask for a CURP or make one up and use that to identify you and submit to tax agency.

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ohhhh. Spencer, do you aspire to be a Notario? I would prefer to poke my eye out with a ...... oh, well..... I would not actually poke my eye out with anything.

What kind of career is that? It sounds boring and bureaucratic. However, I do note that they are typically good looking and well dressed. I see no honor in thieir profession.

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ohhhh. Spencer, do you aspire to be a Notario? I would prefer to poke my eye out with a ...... oh, well..... I would not actually poke my eye out with anything.

What kind of career is that? It sounds boring and bureaucratic. However, I do note that they are typically good looking and well dressed. I see no honor in thieir profession.

You know if you choose to insult notaries you probably should make sure that none of them read this board. Oppps too late. If it is a joke tell us.

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I've personally dealt with 3 Notarios over the years and friends have dealt with a number of other Notarios.

Never heard anyone disparage them for any reason.

Perhaps the poster is confusing the Notarios with the various laws they have to enforce???

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Does the capital gains exclusion apply solely to a house that you must prove you have lived in? Or can it be applied to a building lot, for instance?

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My ex sold me our house in Baja. I put in in my current wife´s name, both are Mexican Nationals. The ex paid 2% taxes on the selling price, the appraisal was considered, plus it was sold for a bit more, of the total amount she received.

It is for sale for more than I paid. I expect to pay 20% of the selling price. We won´t have it for 5 years in my wife´s name. Do not rent it out. I have a friend living there for free. He Keeps it safe and clean and pays the luz and water. The notaria said it will be much more if I sell it before 6 months is up since transferring the title. Alan

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Does the capital gains exclusion apply solely to a house that you must prove you have lived in? Or can it be applied to a building lot, for instance?

Also, little know part of Capital Gains Law- If your Residence sits on a LOT 3 times or more larger, than the M2 of the house-

YOU PAY CAPITAL GAINS TAX- regardless of your visa status. Notarios will order an audit or inspection prior to closing-

I had to Pay Capital Gains on the sale of my home at lakeside due to size of my lot!

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Also, little know part of Capital Gains Law- If your Residence sits on a LOT 3 times or more larger, than the M2 of the house-

YOU PAY CAPITAL GAINS TAX- regardless of your visa status. Notarios will order an audit or inspection prior to closing-

I had to Pay Capital Gains on the sale of my home at lakeside due to size of my lot!

Aren't you allowed a certain exemption for your house BUT should pay the full tax on the land surplus? Something worth searching. I believe I have seen a ruling on it.

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The tax on land is small, well relatively, if land is more than 3 times building footprint then tax will be owing subject to certain deductions the notary does. This is to prevent people from erecting a shack on 100 acres and not paying tax on the gain.

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ohhhh. Spencer, do you aspire to be a Notario? I would prefer to poke my eye out with a ...... oh, well..... I would not actually poke my eye out with anything.

What kind of career is that? It sounds boring and bureaucratic. However, I do note that they are typically good looking and well dressed. I see no honor in thieir profession.

A notary is a very respectful profession and they do specific work that lawyers don't do in jurisdictions operating under the Civil Code. They also charge less for what lawyers would charge in countries who don't have notaries. The work a notary may do is well described and cannot interfer with lawyers jobs.

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Not to hijack the thread but let me tell you about the three ytpes of attorneys here in Mexico:

Regular Abogados or Licenciados en Derecho, can litigate and are attorneys for all intents and purposes. I am one of these.

Corredor Publico, a step above a regular attorney and able to do everything a regular attorney can do as well as are authorized to prepare corporate and business documents and do appraisals. Few know about this class of attorney as there are none in Chapala, except Jorge Luis Ramos Uriarte who is now a notario.

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Notarios are the highest class being able to do all acts the others can do plus they are the only ones authorized to do wills, real estate deeds, certified copies and acts as judges and make sworn statements of events and take depositions that are held as evidence in the same way as if people made an in court declaration.

Chapala is a small town and the notaries there mainly do wills and deeds, few people see their other acts used in tribunals. It is hard to be a notary, there are tests and mandatory membership in a bar association. It is a prestigious title although some run their offices as deed and will mills.

Here is the Spanish description of a Corredor Publico

¿QUÉ ES UN CORREDOR PÚBLICO?

El Corredor Público es un Licenciado en Derecho que ha demostrado plena honorabilidad y solvencia moral, además de aprobar dos exámenes de conocimientos de alto grado de dificultad, uno de aspirante y otro definitivo, por lo cuál ha sido investido de Fe Pública Mercantil por el Estado Federal Mexicano, a través del Ejecutivo por conducto de la Secretaría de Economía, que tiene la obligación de escuchar y orientar a las personas y comerciantes que ante el acuden en ejercicio de su función de asesoría jurídica especializada, que además redacta y da forma legal a la voluntad expresada por dichas personas o comerciantes, confiriendo en su actuación autenticidad, seguridad y certeza jurídica a los actos o hechos jurídicos mercantiles formalizados o presenciados ante su fe, mediante la conformación de instrumentos públicos denominados pólizas y actas, ejerciendo la función de agente auxiliar del comercio que brinda un servicio profesional independiente, actuando además como Perito Valuador para estimar, cuantificar y valorar los bienes, servicios, derechos y obligaciones que se sometan a su consideración; Agente Mediador para transmitir e intercambiar propuestas entre dos o más partes y asesorar en la celebración o ajuste de cualquier contrato o convenio de naturaleza mercantil; y Arbitro a solicitud de las partes, en la solución de controversias, derivadas de actos, contratos o convenios de naturaleza mercantil, así como las que resulten entre proveedores y consumidores.

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I've personally dealt with 3 Notarios over the years and friends have dealt with a number of other Notarios.

Never heard anyone disparage them for any reason.

Perhaps the poster is confusing the Notarios with the various laws they have to enforce???

Wow. I do not even recall writing that. And no drinking or drugs going on.

Here is why I lost respect: I do not understand why they allow people to put a fake sales price on documents, well below the actual sales price. They absolutely know this price to be false, yet they allow people to do that. I was told, by my Realtor, and by many other people that that has been standard practice for many, many years. They are supposed to make certain people are paying the capital gain owed, but they get away with out doing so all the time.

Here is the other reason. Many Snow Birds used the FM2 and CFE bills as a way to prove that the home they are selling is a primary residence, when it never has been. So how can you respect these guys when you know that they know they are allowing these people to have the tax exemption they are not entitled to.

Many people, on this forum are counting on that method of not paying capital gains.

So..... how can you say it is honorable?

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You know if you choose to insult notaries you probably should make sure that none of them read this board. Oppps too late. If it is a joke tell us.

Well, I did say they were typically good looking and well dressed.

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