Yes, regardless of its Citizenship, any foreigners may acquire direct ownership of property in central or southern Mexico. However, pursuant to the Mexican Constitution, within the 100 kilometers along the borders and 5o kilometers along the coasts (restricted zone) foreigners cannot own property outright within the restricted zone, nevertheless, secondary law implemented the legal mechanisms to acquire land and hold formal title to it, under the form of a Bank trust. Consisting on a formal, verified and official process, ending with a registered title, providing that the use and enjoyment rights belong to the foreign purchaser. Usually is granted for 50 years, renewable without limit. Through the process of setting up a bank trust, there are several parties involved, such as: Trustee (bank institutions); Notario Publico; Foreign affairs secretary; Public recorder of the property; A Real Estate Attorney to coordinate the process, and when is property not sold by owner, there would also be real estate agents involved. The most important thing that you should know is that buying property in Mexico is completely legal and 100% secure, as long as the buyer is well represented and follow the correct process, just like in any place in the world. Under the bank trust (fideicomiso), a buyer can sell, rent, will and name beneficiaries, etc, just like when holding fee simple deed. The buyer holding the rights over the bank trust, can act as owner, excepting the fact that any transfer of ownership, must require an instruction to the trustee (domain holder), but the rest of the process would be very similar to a standard transfer of title.
Baja Legal Solutions has many years of expertise in real estate transactions. Leaded by his office Director, Eduardo Rosales G. Attorney at Law with plenty of experience in Real Estate Law and local real estate practices, will ensure maximum protection to your real estate investment and assist our clients from beginning to end, up to the point where we hand deliver the title to our clients, after completion of a successful real estate transaction
