If the Mexico real estateproperty you are purchasing is already in a trust (fedeicomiso) you may either: request assignment of the rights to you, or may request a new trust for fifty years If a new trust, a permit from the Secretary of Foreign Relations is required Whether a new trust or an assignment of rights, the deed in the new buyer's name must be registered in the National Foreign Investment Registry
When considering a new trust or an assignment of rights here in the La Paz real estate market, the factors we consider are: 1. Remaining term of the existing trust – when will it need to be renewed ; and 2. – What are the annual fees under the existing Mexico bank trust If the permit has an unexpired term of less than fifteen or twenty years and/or the annual bank administration fees are more than $500.00 U. S. Dollars, it probably makes sense to obtain the permit for a new fifty year trust with a bank offering more attractive fees
Author Linda Neil has over 35 years of hands on experience in all aspects of Mexican real estate. She holds membership in AMPI, NAR, and FIABCI and PROFECO Certificate 00063/96. Current member of the national advisory board of AMPI she is the owner broker of LINDA NEIL PROPERTIES for more information (512)-879-6546 THEwww.TOPmexicorealestate.com NETWORK
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