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Tai Condominiums

In cooperation with: Visit Mexico
Calgary, AB Canada
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125 posts
20 reviews
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Tai Condominiums

While in Barra de Navidad early 2015 we walked through one of the rooms in this beachfront condo. I see they are still trying to sell these condos. According to the person we talked to none have sold yet and there is a fairly substantial drop in the cost. Does anyone know is there something shifty going on or is this just an indication of what is going on with the economy?

Thank you in advance for any info you can provide.

London Ontario
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29 posts
30 reviews
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1. Re: Tai Condominiums

I would stay away at this point, there are a lot of things that need to be answered before you buy. From my understanding, they don't have proper papers to sell. You'd also want to find out if the water supply is on the condo property as the owner also owns the house next door. Just stay away. If you want an oceanfront condo try Playa Grande, much nicer complex too.

Toronto
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492 posts
7 reviews
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2. Re: Tai Condominiums

Let me elaborate on "trishiepooh's" post. - I walked by the Tai condos during a visit in Feb, 2016 and we "own" a property in the area.

In case you are unaware -- the Mexican constitution Article 26 (I recall) prohibits foreign nationals from owning property within 100 km of the high tide and 50 km of an international border.

In order to "bypass" this law, foreign nationals have two options.

1. hold the ownership in a domicile Mexican corporation which they own. (bank trust)

2. purchase the property on behalf of a Mexican national and the "lease" it from them in perpetuity.

Option 2, is an agreement that is unenforceable by law.

If the land is still under the communal ownership of an "ejido" i.e. a local "first nations" group, then you only have Option 2 and are reliant on the ejido agreeing to sever the property from their holdings and then applying for an "Option 1" ownership. (I have made such an application in a nearby town and, after 5 years, am still waiting for the local ejido to hold the requisite annual "Hard" (Duro) meeting to vote on our application .)

In Barra, the land around the canals was never part of the "Ejido" land grants and so there, Option 1 is an easy "fix". The Tai Condos -- you need to confirm the land ownership.

jt

Calgary, AB Canada
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125 posts
20 reviews
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3. Re: Tai Condominiums

Thank you both for the information.

4. Re: Tai Condominiums

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