Editorial January 2015

Jan 1, 2015 by Editorial

Cover0115Happy New Year and welcome to a great 2015! If the latter part of last year is any indication of what is in store for Rocky Point – we are going to have one of the best years in a long time. Even the winter has been great – pretty much ideal with a couple rain days to remind us that you can’t live in paradise 365 days a year although I imagine some of you loved the rain. Rocky Point seems to be doing great all around from business to tourism to real estate. Now if street construction around Rocky Point would get finished and those pesky cops in Sonoyta would get their radar gun fixed life would be pretty much grand.

Besides all of the great social gatherings in December, the only big news was the train derailment at the intersection of the Coastal Highway and the ranchito. Closed that crossing down for about a week and there are still some cars on the side of the tracks. Thank goodness they weren’t passenger trains and hopefully not many people were riding atop the train. You don’t realize what a time saver that crossing/intersection is until it is closed and you have to go all the way around. I give it to the crew for cleaning it up so quickly – it looked like a huge disaster. I know we posted some photos on the Rocky Point Times Facebook site if you want to take a look.

The main blvd. Benito Juarez is still under construction from Sam’s Club north to the intersection of Josefa Ortiz and Samuel Ocaña and Samuel Ocaña is under construction again as are a few other streets around town so just use caution when driving around town especially at night.

I have heard a couple items pertaining to real estate and although I do not have a definitive answer I thought they should be brought to your attention so that you can seek out your own answers. I assume that AMPI will be doing articles on at least one of the items and the other seems to be open to interpretation of the law depending on who you speak to. First: Private Contracts of any kind are being phased out. I know this started a while ago, but now it looks as if some Notarios will no longer involve themselves with private contracts and many real estate professionals are advising buyers and sellers from entering into private contracts. Private Contracts may become null and void in the not so distant future so it is advisable, if you have a private contract – new or old – that you speak to an attorney or real estate professional or your trusted advisor to see what can be done about getting your property into a Bank Trust or some other legally recognized status. Which leads right into the Second item: Mexican Corporations. Again, this I have heard from various sources, but do not have first-hand knowledge of what the law says so make sure you speak to a professional on the subject…Many of us have been advised (for years and years) to put our residential property into a Mexican Corporation. And so by doing this there is no rush to get a Bank Trust on the property. My understanding is this is only legal to do if it is a for-profit property – say it is in a rental pool for example. A second residence that does not earn income (one that you live in) cannot be protected under a Mexican Corporation. It is my understanding that this has always been the law, but it seemed to be opened up to very loose interpretation. So, if you have property in a Mexican Corporation I suggest that you speak to your attorney to find out his/her interpretation of the law…and you might want a couple opinions. Again, we will try to get the exact details and correct interpretations so that we all are protected. Just a heads up for the new year. I believe many of these “changes” have to do with anti-money-laundering laws that have gone into effect or were there before and are just now being enforced. I don’t believe there is cause for major panic, but these issues do need to be brought to your attention so that you (and we) can start looking into them.

Now that I may have ruined your day and raised your blood pressure, I invite you to come down to Rocky Point and have a cold one at one of our many great restaurants and chill out. The weather is absolutely beautiful and the whales will be here soon. We look forward to a super great 2015. Sandy, Alicia, Mario and Myself would all like to wish you and yours a very Happy, Healthy and Prosperous New Year.

As Tom O’Hare always said…”Just Another Day in Paradise”

(Maybe next month I’ll tell you an out Sandy’s ticket for ‘Reverse Parking”, right by the RPTimes Offices, next to the OXXO. It was the first ticket of her entire life!!)

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