Foreigners Cannot Directly Own Property in Mexico
As you may know, Foreigners cannot directly own property in Mexico except when they enter an agreement with the federal government to abide by the rules of the country with regards to the land they acquire, thus they may form a Mexican owned company or set up a real estate trust.
You may also know that Border and Coastal areas and the whole peninsula of Baja California are constitutionally restricted and known as zona Prohibida (forbidden zone) and that foreigners can set up a fideicomiso (real estate trusts) or may form a foreign-owned company to acquire a property.
Continue reading Legal Basis For The Acquisition Of Real Estate in Mexico By Foreigners – Baja Legal Advice
Do You Want to Buy Ejido Land?
Since I have been asked this many times, I hereby submit for your benefit, a detailed description of the process required by law to privatize Ejido Land, pursuant to the Mexican Agrarian Law.
The process consists of four stages, which are the following:.- The whole Ejido community must be current with their respective plot rights. To do this they must have performed, previously, a meeting to establish individual metes and bounds (article 56 of the Agrarian Law).
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Talking About Old Trusts
When the Mexican government grants a permit for a bank to create a fideicomiso on behalf of a foreign national, it instructs both the bank and the Notario to includes a number of obligations that are included within the clauses of the fideicomiso, while granting a 50 year term for the trust beneficiary owners (renewable) to use and enjoy the property held under trust.
Continue reading Why Do Mexican Real Estate Trusts Expire and What To Do About It – Baja Legal Advice
Mexico’s Beaches Are Known As “Federal Maritime Zone”
Thus if you are planning to buy property on the beach in Mexico then you must fully understand what the Federal Maritime Zone is.
The Federal Maritime Zone, per law, is described as a 20-meter wide strip of land that is transitable and next to the beach (playa mar)”. Let’s break this down to make sure we are clear on what we are talking about:
1.- The Federal Maritime Zone is 20 meters wide. There are several types of Federal Zone. This article is only making reference to the Federal MARITIME Zone.
2.- It must be “transitable” land, that I, it must be possible to cross. More on this below.
3.- It is measured from what the law considers a “beach”.
Continue reading Mexico’s Federal Maritime Zone – Baja Legal Advice
I have been providing closing services since the mid-nineties thus have put together dozens of purchases, legally and seamlessly, thus identify and minimize delays. I provide the utmost degree of professionalism.
Real estate agents are trained to sell properties, and normally do not perform due diligence, they simply deliver all paperwork to a notary public who in turn recruits a surveyor to process no lien certificates, appraisals, layouts, etc. nothing else.
Continue reading Mexican Real Estate Closing Services – Baja Legal Advice
Oftentimes I hear things like, “Oh, you don’t need an attorney to handle due diligence nor closing, trust me, I’ve got your back, by the way, sign this purchase agreement and I also need that 10% deposit (none/refundable)”.
Purchasing property means so much more than just the buying process, it involves many steps, due diligence in my case, must include, zoning laws, see, many buy property and “feel” that they can do just about anything on their land, well no sir, you cannot, you must comply with zoning laws, among other things, the Federal Maritime Law, the National Law of Public Lands, etc.
Continue reading Legal Framework for Real Estate Transactions in Mexico Today – Baja Legal Advice
Anyone can buy property, but,
will you become the legal owner of it?
Make sure to secure legal assurance that the property that you wish to buy can become yours, yes, beforehand, don’t negotiate nor deposit until due diligence has been performed, if and when everything checks out alright.
You must also be assured, that the lot may be put to its intended use thus you SHOULD NOT TAKE THE SELLER’S WORD FOR IT!
Attorney at Law / Licensed Exclusively in Mexico
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Selling your Casa in Mexico
If you own a home here and you plan to sell it and you are not a resident then you will NOT be able to benefit from tax exemptions pursuant to article 93, fraction XIX, subparagraph (a) of the Act of the INCOME TAX LAW. Thus, public notaries will follow the provisions of article 26, section I of the Fiscal Code, and shall calculate and pay the corresponding tax in the terms of the provisions of article 160 of the Income Tax Law.
Continue reading Tax Exemptions and Deductions in the Sale of your Casa in Mexico – Baja Legal Advice