Questions about Bank Trust & paying Property Taxes

Colosio · 11-06-2007

In June '07 my wife and I purchased property in Tulum. We used a title company to settle and all went smoothly. However, I do have a few issues I need clarification on because the title company rep doesn't seem to explain it specifically enough. I'm hoping someone can provide some answers:
1) Our bank trust is through Banorte (Banco Mercantil del Norte) but our trust doesn't specify which Banorte or who to contact. Can we pay it at any Banorte branch in Playa or do we pay it somewhere else? How do we know how much we owe and when it is due?
2) We were told that we have already paid "this year's property tax." When will our taxes be due again, where specifically do we pay them, do we need to bring any documents with us, and do we pay in cash? I'm assuming we pay at the Municipal Building on 8th & 15th?
3) We are still waiting for our deed to be registered and the title policy to be issued. We closed on the property in June '07. How long does it usually take to get the registered deed back? What government office records the deed and where can I go to see a copy of it?
Thanks. Any help is much appreciated!!

Babaloo · 11-06-2007

Quote:

Originally Posted by Colosio

In June '07 my wife and I purchased property in Tulum. We used a title company to settle and all went smoothly. However, I do have a few issues I need clarification on because the title company rep doesn't seem to explain it specifically enough. I'm hoping someone can provide some answers:
1) Our bank trust is through Banorte (Banco Mercantil del Norte) but our trust doesn't specify which Banorte or who to contact. Can we pay it at any Banorte branch in Playa or do we pay it somewhere else? How do we know how much we owe and when it is due?
2) We were told that we have already paid "this year's property tax." When will our taxes be due again, where specifically do we pay them, do we need to bring any documents with us, and do we pay in cash? I'm assuming we pay at the Municipal Building on 8th & 15th?
3) We are still waiting for our deed to be registered and the title policy to be issued. We closed on the property in June '07. How long does it usually take to get the registered deed back? What government office records the deed and where can I go to see a copy of it?
Thanks. Any help is much appreciated!!

wow

you kinda entered into this agreement with little information
i don't have the answers....but good luck.

...and welcome

suzeq · 11-06-2007

We just signed our final paperwork two weeks ago. We will need to pay our taxes before Dec 31 for next year if we want to take advantage of the 20% for payment in full and it is at the Municipal Building. Haven't done that before but that is what the notary told me. Also, the notary also told us that the deed will be ready in four months. We are to check back with her in Feb. After I pay the taxes in Dec I'll have more info on that.

nworowley · 11-06-2007

We have our trust with Scotiabank. They sent me a letter with the details on where to pay, how much and the date it is due every year and my account number to reference when making payment. And they sent it six months in advance!

Big Fish · 11-06-2007

Getting Title in your paws can be an interesting thing! Ours was fairly neat and tidy and took 2 yrs. Friends recently bought, signed and got Title same day, and other neighbours are still waiting for it after 5 yrs!! Seems to entirely depend on your lawyer/notary as to how speedy it can end up being - or not

suzeq · 11-07-2007

Quote:

Originally Posted by nworowley

We have our trust with Scotiabank. They sent me a letter with the details on where to pay, how much and the date it is due every year and my account number to reference when making payment. And they sent it six months in advance!

Ours is with Scotiabank too. Six months in advance of any type of notice would be amazing.

Colosio · 11-07-2007

Thank you all.. I believe everything is o.k. and on track. I will be back in town in 10 days, will visit Banorte at the plaza and the municipal bldg. I just want to make sure I keep things legal.
Thanks again

suzeq · 11-07-2007

Please let us know how it goes....we'll be doing the same in Dec.

Colosio · 11-09-2007

I will be there next week to visit friends and check on this stuff.. I will let you know how it goes. I don't think there will be any problems.

Island Dan · 11-11-2007

Good Luck, It took me over a year to close. You did have a English speaking lawyer work on your behalf right?.....

ONTHEBUS · 11-11-2007

It was almost a year before I got my sealed paperwork. As for paying the fedicomiso. The bank didn't have the account on record for months and then it took some emails with the main office to find out what the account number was so that I could pay it. Then I just paid it at the local Banknorte office. For your taxes you need to locate that account number and pay at the municipal.

11-06-2007	#1 (permalink)
Colosio sandflea Join Date: Jan 2007 Posts: 6	Questions about Bank Trust & paying Property Taxes In June '07 my wife and I purchased property in Tulum. We used a title company to settle and all went smoothly. However, I do have a few issues I need clarification on because the title company rep doesn't seem to explain it specifically enough. I'm hoping someone can provide some answers: 1) Our bank trust is through Banorte (Banco Mercantil del Norte) but our trust doesn't specify which Banorte or who to contact. Can we pay it at any Banorte branch in Playa or do we pay it somewhere else? How do we know how much we owe and when it is due? 2) We were told that we have already paid "this year's property tax." When will our taxes be due again, where specifically do we pay them, do we need to bring any documents with us, and do we pay in cash? I'm assuming we pay at the Municipal Building on 8th & 15th? 3) We are still waiting for our deed to be registered and the title policy to be issued. We closed on the property in June '07. How long does it usually take to get the registered deed back? What government office records the deed and where can I go to see a copy of it? Thanks. Any help is much appreciated!!

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search

11-06-2007	#3 (permalink)
suzeq life=playa Join Date: Jul 2003 Location: colorado Posts: 821	We just signed our final paperwork two weeks ago. We will need to pay our taxes before Dec 31 for next year if we want to take advantage of the 20% for payment in full and it is at the Municipal Building. Haven't done that before but that is what the notary told me. Also, the notary also told us that the deed will be ready in four months. We are to check back with her in Feb. After I pay the taxes in Dec I'll have more info on that.

11-06-2007	#4 (permalink)
nworowley way into it Join Date: Sep 2005 Location: at the top of Lake Superior Posts: 212	We have our trust with Scotiabank. They sent me a letter with the details on where to pay, how much and the date it is due every year and my account number to reference when making payment. And they sent it six months in advance!

11-06-2007	#5 (permalink)
Big Fish life=playa Join Date: Oct 2005 Location: Calgary AB Posts: 507	Getting Title in your paws can be an interesting thing! Ours was fairly neat and tidy and took 2 yrs. Friends recently bought, signed and got Title same day, and other neighbours are still waiting for it after 5 yrs!! Seems to entirely depend on your lawyer/notary as to how speedy it can end up being - or not

11-07-2007	#7 (permalink)
Colosio sandflea Join Date: Jan 2007 Posts: 6	Thank you all.. I believe everything is o.k. and on track. I will be back in town in 10 days, will visit Banorte at the plaza and the municipal bldg. I just want to make sure I keep things legal. Thanks again

11-07-2007	#8 (permalink)
suzeq life=playa Join Date: Jul 2003 Location: colorado Posts: 821	Please let us know how it goes....we'll be doing the same in Dec.

11-09-2007	#9 (permalink)
Colosio sandflea Join Date: Jan 2007 Posts: 6	I will be there next week to visit friends and check on this stuff.. I will let you know how it goes. I don't think there will be any problems.

11-11-2007	#10 (permalink)
Island Dan ruined Join Date: Jul 2004 Location: Cozumel, Mexico Posts: 87	Good Luck, It took me over a year to close. You did have a English speaking lawyer work on your behalf right?.....

11-11-2007	#11 (permalink)
ONTHEBUS toe in water Join Date: Nov 2005 Location: PLAYA Posts: 55	It was almost a year before I got my sealed paperwork. As for paying the fedicomiso. The bank didn't have the account on record for months and then it took some emails with the main office to find out what the account number was so that I could pay it. Then I just paid it at the local Banknorte office. For your taxes you need to locate that account number and pay at the municipal.

register to remove these adverts