# New to this board



## chicois8 (Aug 8, 2009)

Hola , I just joined this board last night, I was searching for an answer from a different site and I found you, thanks... My first question is : I bought a home in Rincon de Guayabitos, Nayarit about 3 years ago. I was told by the real estate agent and notorio that all I needed was an FMT, my passport and a check for the down payment, I got my fidecomiso a couple months later and enjoy the 6 months I live there each year. Somehow I got into a debate on another board, a gentleman stated one MUST have an FM3 to purchase a home in the federal restricted zone, I disagreed...He then stated that I only having an FMT that I can not legally leave personal items in my home. ( I know I can not leave a vehicle in Mexico without an FM3 )...I know about the tax implications and having a FM3 for 2 years before I might sell a house and do plan on getting one in the near future...Have any rules changed in the last couple years as far as needing an FM3 to buy? Thanks in advance, Rick


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## RVGRINGO (May 16, 2007)

I think you have it correct. You aren't selling or otherwise disposing of the goods left in your home and you can, indeed, buy a home with an FMT. However, if you plan to sell, you should have at least an FM3 for some two or three years to minimize taxes on the sale; an FM2 would be even better, once you are in permanent residence in Mexico.
So, Welcome to the forum and I hope you continue to enjoy your home.


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## chicois8 (Aug 8, 2009)

*Thank you*

for the welcome, you have a great site.


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## chicois8 (Aug 8, 2009)

RVGRINGO said:


> I think you have it correct. You aren't selling or otherwise disposing of the goods left in your home and you can, indeed, buy a home with an FMT. However, if you plan to sell, you should have at least an FM3 for some two or three years to minimize taxes on the sale; an FM2 would be even better, once you are in permanent residence in Mexico.
> So, Welcome to the forum and I hope you continue to enjoy your home.


Hola, I talked to a real estate friend in PV and she says the law concerning the FM3 and capitol gains tax laws have changed and the FM3 does not work that way anymore...Rick


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## RVGRINGO (May 16, 2007)

I have heard that before from Puerto Vallarta. However, interpretation seems to vary with the area, as in so many other things. Having an FM2, with the travel restrictions, would be impossible until you spend almost all of your time in Mexico. So, your present option is an FM3, which can be changed to an FM2 at any time you are ready.


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