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Travel-To-Honduras Discussion List Archive
| Posted On: | 08-Jun-2005 | | From: | "Hennings, David" [hennings.....com]
| | Subject: | RE: [travel-to-honduras] Digest Number 321
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Has anyone invested in six month or one-year CD's from a Honduran bank?
I know that they, of course, are in lempira. I also understood that when
they mature and you want to convert the back into dollars that you can
take some time. Any comments on the wisdom in doing so? If so, any
recommendations on banks? Thanks.
-----Original Message-----
From: travel-to-honduras.....com
[mailto:travel-to-honduras.....com]
Sent: Wednesday, June 08, 2005 6:11 AM
To: travel-to-honduras.....com
Subject: [travel-to-honduras] Digest Number 321
There are 3 messages in this issue.
Topics in this digest:
1. Re: Hi
From: "Gay A. Burke"
2. Re: Hi
From: "Charles R. Meador, Jr."
3. Re: Re: Hi
From: Peggy gray
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Message: 1
Date: Mon, 6 Jun 2005 18:57:56 -0700 (PDT)
From: "Gay A. Burke"
Subject: Re: Hi
Peggy,
I am also buying property in Honduras and have hired a
highly recommended lawyer from Tegus to advise me on
these very questions. I would really advise that you
might want to consult a Honduran lawyer (in addition
to the one involved in the closing) so you feel you
have the correct expertise.
That given, I will share my understanding of what she
told me. But, please, consult a professional as I may
not have fully understood the law as it might be
applied to others in different situations. And she is
helping me with the purchase so I do not need to fully understand--I am
relying on her.
1. There is more law developed around the right to
own less than 3/4 acre (and actually, since the law is
in square meters--on a literal translation it is a
little less than 3/4 acre--something like.745 acre
that you must be under) as an individual. Because of
that, it has been more tested and better understood as
to its application and limits.
2. There is also more law developed around owning
more than 3/4 acre by a corporation if you are engaged
in tourism business. So this is a safer thing to do
also.
3. But there is not as much developed set of laws
around corporations owning more than 3/4 acre if they
are not engaged in tourism business. As I understand
it, there is always a remote possibility that the
highest court could rule against this yet. If I had
wanted to buy more than 3/4 acre, she said I might
want to consider having it subdivided before sale and
have me purchase less than 3/4 and a family member
purchase the other parcel (and so on, depending upon
the size of the parcel).
So, what she told me since I am buying less than .74
acre (and do not plan to go into tourism business
(whatever that means--that is a whole other issue))it
is much safer to own it directly in my name. She did
not mention the issue around how many times it can be transferred. She
is calling me tonight (since I close next week). I will try to remember
to ask her.
Good Luck--I have heard so many different opinions--I
just decided it was worth the extra piece of mind to
hire a lawyer (other than the one involved in the
closing). The fees are very reasonable.
--- Peggy Gray wrote:
> Hi, I am looking into buying some land in Honduras
> and have gotten
> different information regarding how to title it.
> Some tell me it is
> important to have it titled in a corporation name,
> one attorney told me
> it is better not to have it in a corporation name
> (it is less than 3/4
> acres)I was also told by one person that there is a
> law that limits the
> number of times you can sell or transfer a title if
> it is not in a
> corporation name. Anyone have info on any of this?
> Thanks alot!
>
>
>
>
>
>
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Message: 2
Date: Tue, 07 Jun 2005 09:17:45 -0000
From: "Charles R. Meador, Jr."
Subject: Re: Hi
Peggy -
It would help in answering your question if you could indicate whether
the parcel is improved, is larger than 3/4th's of an acre and is
located within 40 kilometers of a national border, coastline or on an
island.
Charlie Meador
Coco Pando Resort
www.cocopando.com
La Ceiba, Honduras
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Message: 3
Date: Tue, 7 Jun 2005 13:53:29 -0700 (PDT)
From: Peggy gray
Subject: Re: Re: Hi
Thanks for your replies. Charles, it is under 3/4 an
acre, it is unimproved (no electricty, water, etc) and
on the beach. Also any idea what it cost to transfer
title on vacant land? Anyone have an email address for
an attorney in LaCeiba area that speaks english?
Thanks.
--- "Charles R. Meador, Jr."
wrote:
> Peggy -
>
> It would help in answering your question if you
> could indicate whether
> the parcel is improved, is larger than 3/4th's of an
> acre and is
> located within 40 kilometers of a national border,
> coastline or on an
> island.
>
> Charlie Meador
> Coco Pando Resort
> www.cocopando.com
> La Ceiba, Honduras
>
>
>
>
>
____
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