Legal Real Estate Transactions
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
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