Buying land in Mexico with NFTs

Tagged: , ,

  • Buying land in Mexico with NFTs

    Posted by Sonia on March 14, 2023 at 8:51 pm

    How to buy land in Mexico with NFTs, and exist in the system legally?

    Conversation from Regen Neighborhood Movement Discord channel

    From Andoni
    “the companies by laws point to the dao and the nft holders as the representatives of the company.
    and because of a bartering law in mexico – (ex – you can trade a car for a house)
    using an NFT as the object of barter for the property or right of use contract – keeps you out of any financial rules that could affect using crypto as a financial vehicle, but makes the exchange legally protected by mexican law.”

    from Mike – Hapori Eco-cohousing
    How does that mesh with capital gains requirements? Seems like a mechanism to skirt the intent of the law, unless an assigned value is required. Or taxes in general. Or money laundering.

    My concern is around seizure where the origin of assets used in purchases are foggy, when the burden of proof is on the developer to show that such assets aren’t from money laundering, etc. I’m on my phone so can’t find the original sources, but this articles summarises potential issues and risks. https://www.dlapiper.com/en/us/insights/publications/2019/08/mexico-controversial-broad-civil-asset-forfeiture-law-expands-anticorruption-arsenal/

    Interested in your approach, opinion and possible experience with purchasing land through NFTs 🙂

    • This discussion was modified 1 year, 1 month ago by  Sonia.
    • This discussion was modified 1 year, 1 month ago by  Sonia.
    Sonia replied 1 year, 1 month ago 1 Member · 0 Replies
  • 0 Replies

Sorry, there were no replies found.

Welcome to the tribe of tribes