Q. Who owns the Real Estate for the home In Mexico?

A. The company (an Arizona based LLC) is located in the states and is the deeded beneficiary of a trust (a Fideicomiso) inscribed in the Public Registry of Mexico. It is a stronger document than a Mexican title since it is not subject to embargo or confiscation. You are a member of the company that is the deeded beneficiary of the trust on the home.

Q. How Long Does This Trust Last?

A. The trusts are 50 years at a time and can be renewed indefinitely.

Q. Who pays the fees to the trust?

A. The fees are paid by the property management company on behalf of the owners and are covered in your quarterly maintenance fees.

Q. Do I own a deed to the home?

A. No. What you own is 1/8 of a company (LLC) that owns the home. Your ownership in the company (LLC) allows you to enjoy time in the home each year.

Q. Who maintains the home and pays the bills?

A. A property management company that is employed by the company that owns the home.

Q. How do you determine the members weeks?

A. It depends on the location and property but in general you get 6 weeks a year and then your interval shifts one week forward so that you get a new set of weeks for the new year. After 8 years you will have experienced all weeks of the year.

Q. Can I rent my weeks and trade weeks with another owner?

A. Yes. You can rent it yourself or use the property management company for the home. If you rent it yourself you keep all the proceeds. You may also trade your weeks with another owner and it does not affect your rotation of assigned weeks.

Q. What expenses are covered by my quarterly fees?

A. Property taxes, utilities, insurance, HOA dues, property management fees, managing member fees, maintenance fund reserves, and much more that are specific to the property purchased.

Q. What happens if I want to sell it?

A. A membership interest in the company may be put up for sale at any time. If you would like assistance, First MExican Development is constantly seeking buyers for properties and will be available to assist in the resale of your interest.