Previous Thread
Next Thread
Print Thread
Page 2 of 2 1 2
Joined: Jan 2003
Posts: 7,479
S
Offline
S
"Any downsides that we have not considered?"

1) Once it's in it's a bitch to get out if you decide to leave.
2) If they ever set the BZ dollar at market value instead of pegged 2:1 to the US dollar. You won't have much left.

Joined: Jul 2008
Posts: 1,206
S
Offline
S
I am referring to US dollar accounts (sorry I wasn't clear on this).

Joined: Apr 2007
Posts: 15
A
AlexB Offline OP
OP Offline
A
I wonder if I could have a local attorney near where I am in the U.S. handle this?

He could hold the land certificate and give the lender a power of attorney to take the land away from me if I do not pay the lender back after a certain period of time?

What do you think? I am not going to rely on your advice but look at what you say and then do my final decision after getting legal counsel of course. Just need some feedback.



Those who forget the past are condemned to repeat it

Joined: Feb 2007
Posts: 1,740
Offline
Originally Posted by AlexB
I wonder if I could have a local attorney near where I am in the U.S. handle this?

He could hold the land certificate and give the lender a power of attorney to take the land away from me if I do not pay the lender back after a certain period of time?

What do you think? I am not going to rely on your advice but look at what you say and then do my final decision after getting legal counsel of course. Just need some feedback.



If you had some US assets to back the deal, then you could have a US attorney work up a deal. But since US attorney's are unfamiliar with Belize law and processes, the cost of having him draw up the correct paperwork would be very high and then still not be legal in Belize.

Joined: Oct 2001
Posts: 6,267
Offline
Under the program proposed by Alex B, the transfer of title to the lender if there were a default would cost the lender the title transfer fee of 5% plus attorney fee of 2% plus whatever else. This tends to discourage a lender from engaging in what you outline above.
Alex - contact a local attorney (Belize) - you and your friend need detailed legal advice that includes what things cost and how they happen.

Page 2 of 2 1 2

Link Copied to Clipboard
April
S M T W T F S
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30
Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
Who's Online Now
0 members (), 142 guests, and 0 robots.
Key: Admin, Global Mod, Mod
Forum Statistics
Forums44
Topics79,204
Posts500,030
Members20,472
Most Online7,413
Nov 7th, 2021



AmbergrisCaye.com CayeCaulker.org HELP! Visitor Center Goods & Services San Pedro Town
BelizeSearch.com Message Board Lodging Diving Fishing Things to Do History
BelizeNews.com Maps Phonebook Belize Business Directory
BelizeCards.com Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.

Powered by UBB.threads™ PHP Forum Software 7.7.5