There are some inherent problems with language – words can have multiple definitions – we sometimes use words for convenience when they might not strictly apply.
The word “ownership” causes many people to have some false beliefs.
Mortgage or not, most people believe that they own their home. I appreciate this position and definitely understand why most people believe this to be true.
But it’s my job to think differently.
Consider this: what would happen if you stopped paying property taxes?
You’ll quickly learn that you are renting your property from the government. Sure, they might send you a couple letters at first. But decline to pay your property taxes long enough and the government will sell your home at auction.
I’ve created a lot of custom Wealth Structuring plans and many of my clients never thought about their homes and properties like this. This is totally understandable. After all, my clients don’t generally struggle to pay their mortgages or taxes.
But that doesn’t make property taxes irrelevant.
Even if you can afford to pay property taxes you might not want to. Many of my clients find extra freedom and security knowing that a government has one less mechanism of control over them.
Fortunately, there are a handful of countries and jurisdictions around the world that do not have any property taxes.
You’ll save a bunch of money on taxes and gain safety and security – if something terrible happens and your wealth suddenly decreases significantly, you won’t have to worry about paying a government every year to live in your home.
It’s yours free and clear.