b'For Sales/Purchases Mail the following information to the TPI office no later than 30 days prior to the private sale of any Membership: 1. Mexicoleviesa16percentvalue-addedtax(calledIVA)on the amount of the net selling price. Under Mexican lawThe name and address of the transferee and transferor.the seller is responsible for reporting the transaction and The date on which such sale or transfer is to be consummated. payingthetaxtotheMexicangovernment.CVIhasnoresponsibilitytocollectandremitanytaxpaymentsinaThepurchasepricetobepaidbythetransfereeforsuchprivate transaction in which it is not involved. Membership. 2. Thesale/purchasetransactionisnotcompleteuntiltheA statement, executed by the transferee, that the transfereeseller/memberreportsthetransactiontoTradingPlaceshas received, and acknowledges receipt of, from the member, International(TPI)andcomplieswithallrequirements a copy of the Governing Instruments and a Statement of Status. in the Associations Governing Documents. TPI does notA statement, executed by the transferee, that the transfereecollect and remit the IVA tax on behalf of the member. has received a copy of the Club current annual budget.Private transactions may also be subject to personal income A statement, executed by the transferee, that the transferee 3.agrees to be bound by all of the provisions of the Governingtax. We recommend consulting tax agents in both MexicoInstruments.and the members home country. The name and address of any Mortgagee of such transferor In transactions in which the selling member does not know 4.or transferee (if applicable). the buyer, an issue of trust may arise. This occurs when thebuyer must pay the member before the member instructsThis information can be provided by completing a Notification TPI to transfer the membership to the buyer. This issueof Sale and Estoppel Form available from Trading Places ormust be worked out between the two parties. download fromclubcascadas.com/owners-corner .Pleasereviewthefollowingconsiderationsforprivate 5.transfers at Club Cascadas de Baja as stated in the Bylaws10.4 Notification of Sale of Membership.3233'