In US Dollars

by Gringo Viejo @, Arizona, Wednesday, May 24, 2017, 17:21 (31 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!

Enramad Neto, best on the beach in La Barra de Potosi, good food, cold beer, great food!

Complete thread:

 RSS Feed of thread