Some of the condos we’ve looked into are owned directly by people, not companies. And some condos we’ve looked at have been transferred among owners without payment of the documentary fee normally calculated on the total purchase price, which is exempted if certain conditions are met.
An individual person owns condominium unit 299 at 200 Vail Rd. in Vail, CO, which had an estimated market value of $2.67 million provided by Eagle County, Colorado as of Jan. 17, 2017. The unit has been passed among three individuals without any payment of the documentary fee in the years after its 1979 purchase for $174,000 (which did carry the fee).
This suggests a valuable gift. No documentary fee would have been due under Colorado law if the price was $500 or lower (C.R.S. 39-13-102 and 104).
One of the owners was Emma Dana De Massry, a co-founder and senior executive for music seller Mixup (Promotora Musical SA de CV), part of the Grupo Sanborns family of companies, in turn part of the Grupo Carso conglomerate. Isaac Massry Nakash is the other co-founder and CEO of Mixup and sits on the Board of Directors of Grupo Sanborns. The condo is currently owned under the name Isaac Massry. We have been unable to find any close relatives of Emma Dana De Massry with the “Massry” surname other than Isaac Massry Nakash.
May 23, 1979
Jaime H. Dana and Emma Dana de Massry borrowed $225,000 secured by Condominium Unit 299, the Lodge South Condominium, then known as 174 East Gore Creek Drive, Vail, Colorado, although they did not yet own the condo unit, and the purchase price was $174,000.
Jaime H. Dana and Emma Dana de Massry signed the Deed of Trust for the loan:
June 1, 1979
Emma Dana De Massry and Jaime H. Dana purchased the lease to Condominium Unit 299 at the Lodge South Condominium subject to a Master Lease and Condominium Declaration. The lease purchase document was signed by Mark Cadmus as their Attorney-in-Fact.
Colorado Documentary Fees were paid in the amount of $17.40, corresponding to a purchase price of $174,000.
August 27, 1987
The May 23, 1979 loan was released by the lender after being paid off.
February 15, 2006
Jaime H. Dana transferred his interest in Unit 299 at the Lodge South Condominium to “Ema Dana DeMassry,” as spelled in the deed.
The address for de Massry was provided as Reforma 2310-1002, Mexico City, D.F. 11000.
The deed was executed under the signature of Jaime H. Dana.
No documentary fees were paid on the cost of the property transfer as shown by the stamp made by Eagle County on the deed when it was recorded on April 27, 2006. (The $6 recording fee was separate and not based on the cost of the transfer.) The deed reported $10 paid which is a common minimum amount on deeds for non-sale transactions.
May 18, 2006
Isaac Massry acquired Unit 299 at the Lodge South Condominium in Vail Colorado from “Ema Dana DeMassry” as written in the deed. No documentary fees were recorded on the cost of the transfer and the deed did not provide a price other than $10 (a common amount for non-sale deeds).
The address for Isaac Massry was the same as that given for Emma de Massry in her deed above: Reforma 2310-1002, Mexico City, D.F. 11000.
The deed was executed under the signature of “Ema Dana DeMassry” which appears very similar to that for Emma Dana de Massry in her 1979 mortgage (above). Based on this and the lack of any filings at Eagle County to suggest this is not the same Emma Dana de Massry that acquired the property in 1979, we believe these are the same person.
