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More real estate frauds on tourist properties in Tulum
[Image: Condohotel-gran-bahia-principe-sian-kaan-150x150.jpg]

Tulum - Foreclosed properties with the Registrar of Properties, and which are about to be auctioned off for diverse irregularities, continue on sale, in spite of the fact there is no legal manner in which a deed could be recorded, which represents million is fraud for possible property buyers.

The tourist success in the Cancún-Tulum corridor has created the development of several schemes for real estate investment all along the coastal strip in Quintana Roo, which go beyond the traditional hotel, timeshare and home-apartment rentals, to name a few.

One of the new methods which has gained momentum in recent years in the area, is the appearance of businesses dedicated to administering homes and apartment on a large scale, which are rented to tourists.

Under this scheme, the property is developed by an investor, who deals directly with a property operator, so that all the property buyers contract with the operator to manage the properties under a management contract which would allow them to use their properties for a limited number of days per year, and receive dividends from the property rental.

Such is the case of Condo Hotel Sian Kaán, which started operations in 2009. The development is located in the Bahía Príncipe Akumal complex, of Grupo Piñero, on the edge of the golf course, and has 300 luxury apartments.

Condo Hotel Sian Kaán Bahía Príncipe is undergoing a legal process which prevents, at least on paper, the sale of apartments which are under foreclosure from a court order from the Third District Court of Quintana Roo, issued by Judge Ana María Nava Ortega, on December 11, 2015.

Even though the properties are to be auctioned in foreclosure, the apartments continue to be for sale by the Mexico Alive company, which is owned by businessman Benjamin Beja Lezama and Hotel Gran Bahía Príncipe continues to make rental contracts with buyers.

Just to initiate the sales contracts for those apartments, the buyers must deposit $100,000 dollars.

The rental management contract signed by Hotel Gran Bajía Príncipe guarantees the owner a return of 5% for five years, before taxes.

In spite of the fact the sales are being carried out without any problems, the luxury apartments which have been sold from December 3, 2015 to now, which are to be auctioned at foreclosure, are invalid sales.
Más vale pocos pelos, pero bien peinados.


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