Puerto Vallarta, Mexico - Yes Virginia! There IS a Santa Claus! And just like the decorations at Costco, this Santa Claus appeared on September 19 in the form of a missive from SAT clarifying the use of the "Complemento" contained in the Miscellaneous Resolutions issued back in July.

For those not following the news, this was the regulation that stipulated that in order for the notary to issue the deductible CFDI receipt in a real estate transaction both Buyers and Sellers would need to provide a CURP and RFC at closing.

As we had anticipated, this regulation has caused furor among the local real estate community as well as with attorneys and notaries trying to adequately advise their clients. This requirement has most affected the foreign community as those without residency documents are currently unable to obtain the CURP.

We have good news; the criteria among the local notaries has changed and the new rules will allow the use of the generic CURP and RFC by the Sellers and the generic CURP by the Buyer. Buyers will need to obtain their RFC in person at the local SAT office (in front of Costco on the east side of Francisco Villa) but this is a quick and easy procedure and no residency card is needed (your tourist visa will be sufficient.) The current criteria requires the particular RFC for Buyers but, again, this could be subject to change. Common questions and answers regarding the use of this "Complemento," are posted (in Spanish) at sat.gob.mx.

We will keep you updated as we receive news but, in a nutshell, at this time there are no special requirements for Sellers and the only requirement for a Buyer is to obtain the RFC (Taxpayer ID number.)

I would like to give a special thanks to Lic. Javier Mazoy C., an attorney and notary in San Jose del Cabo, as well as to Linda Jones Neil of the Settlement Company for their interest and diligence in this matter in spite of all the other things that are going on right now in Los Cabos. We send them best wishes for a great season and hope to see that everything is back to normal pronto!

Since 1997, Wayne Franklin and his team at Tropicasa Realty have been a trusted name in Puerto Vallarta real estate. Tropicasa Realty is the region's representative for "The Leading Agents of the World" and with over 100 years of combined experience in real estate, all agents of the company are affiliated with AMPI. Wayne Franklin or any member of his knowledgeable team can be contacted in-person at their Romantic Zone Office - Pulpito 145-A at Olas Altas or in their San Marino Office - San Marino Hotel at Rodolfo Gomez 111-4. While in PV they can be reached at (322) 222-6505 or by calling 866-978-5539 (Toll-Free) from the U.S.

Click HERE to learn more about Tropicasa Realty, or visit tropicasa.com.