In US Dollars

by Gringo Viejo @, Kansas, Wednesday, May 24, 2017, 17:21 (90 days ago) @ Talley Ho

It is my understanding that buyer and seller can use any currency they like but the Notary will always record it in pesos. You could end u p with a capital gain without making a profit. For example, you bought a property for $10,000 USD back when the exchange rate was 10 to one so it would have been recorded as 100,000 pesos. Then last winter you sold it for $10,000 USD (no profit) ; the Notary would have recorded it as 200,00 pesos when the exchange rate was 20 to 1.

Ah, the magic of numbers!


Complete thread:

 RSS Feed of thread