2007-01-25 03:41:44 · 16 answers · asked by Sean 5 in Travel ➔ Mexico ➔ Other - Mexico
Yes, americans can buy land in Mexico. It is pretty easy. The only thing is that even though you own the property, you will never physically see the title. The bank will hold the title for the entire time of ownership. You do get some paperwork stating that you did purchase the property and are the legal owner. There is nothing to be concerned about.
2007-01-25 03:51:43 · answer #1 · answered by jojamz06 2 · 2⤊ 1⤋
Buy Land In Mexico
2016-11-14 00:05:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes. And you can own beach property in Mexico now. All of the prime real estate (within 50 kilometers of the beach) must be owned through a Bank Trust also known as a Fideicomiso. This is similar to a Limited Liability Corporation (LLC) which is a very common way for people to own commercial real estate in North America. Basically, you own the LLC and the LLC owns the property. Down here any bank with a Trust Department sets up a RENEWABLE ( and it doesn't cost anything to renew) 50 year Mexican Property Trust, or fideicomiso, which holds the property in your name. You have all rights of ownership like selling, refinancing, transferring, leaving the property to your heirs in a will, ownership succession upon your death and the like. Most of these are insured by USA trust companies, so no worries. Property taxes here are cheap as well.
2007-01-25 06:29:05 · answer #3 · answered by Sans 4 · 0⤊ 0⤋
Yes. There are a number of ways to do it and the rules change when you're trying to buy beach property. There are literally tons of websites that give the details, way too many to enumerate here. A good place to start would be http://www.solutionsabroad.com/a_realestatemexico_howtobuy.asp.
Buena suerte.
P.S. I lived in Mexico for 10 years in the '80s and we will retire to Mexico.
2007-01-26 02:13:39 · answer #4 · answered by cmw 6 · 0⤊ 0⤋
yes but mexicans have first dibs and you can not get any near the water. You will get the suckest land there is if americans want to buy it but if citizens want to buy they will get prime land. and you will not be able to get no gov help or any help at all. You have to be a residence of mexico to even think of buying any but you will get whatever is left it will not be the most popular land.
2007-01-25 03:47:41 · answer #5 · answered by knowssignlanguage 6 · 0⤊ 4⤋
Yes you can. I just sold property 4 blocks from the beach to an "American" we are closing this week or next at the lattest.
2007-01-25 11:36:57 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes ! It's a great place to open a new toxic waste dump !!
Not to mention that everyone burns thier trash down there
because they don't have an EPA like we do. A Enviromental Protection Agency.
2007-01-27 16:31:53 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Perhaps someone has already touched on this, or you may know this already, but just in case:
Yes, you can purchase land, but the "rights" to the land will last you only 50 years. After that, it no longer is yours, nor can your posterity inherit it from you.
Look into this if you weren't aware of this detail. Good luck!
2007-01-25 06:24:06 · answer #8 · answered by relicfossil 1 · 0⤊ 3⤋
Inland you can buy it outright. In the restricted zones near the coast and borders - you need a bank trust or 'presta nombre' (Mexican citizen)
2007-01-25 05:25:09 · answer #9 · answered by sparks_mex 6 · 0⤊ 0⤋
Yes.
2007-01-25 03:45:56 · answer #10 · answered by Zarahel 3 · 0⤊ 0⤋