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Nallely Ortigoza and Francisco Cepeda (17-June-2010) .- .- MEXICO

Changes in U.S. dollar transactions limit the sale of property via cash, because it will force buyers transact through transfers or checks.

Maria del Carmen Guerrero, director of the firm Guerrero Belmonte and Associates, said the real estate sector is likely to be given money laundering, because the amounts that can pay for a property, so that the changes in dollars in bank operations could limit property transactions in that currency.

In Monterrey, the real estate industry representatives gave the nod to the Treasury as placing controls on the sale in cash in U.S. dollars and national currency. This

said Roberto Salinas Jiménez, president of the Mexican Association of Real Estate Professionals (AMPI) section Monterrey, operations will be transparent.

For his part, Fausto Ibarra, President Chamber of Real Estate Owners of Nuevo Leon, said that if the measure is intended that the money laundering does not pass through the companies, then support this reform.

"If part of money laundering is going out there (cash transactions) as a preventive measure we have to support the reforms provided they are consistent," he said.

acknowledged that a smaller percentage of transactions made in cash in the property sector would be inhibited.

Most developers, he said Ibarra, protect themselves by asking that the money value of a real estate transaction is deposited in the bank.