Ejido land is communal land that was passed down to peasant communities after the Mexican Revolution. It is typically agricultural type land and is akin to Indian Reservation land in the United States. In the Mexico real estate region, Ejido properties are off limits to the foreign community, despite the fact that many have “purchased the rights to use” these properties through what is called a “prestanombre” (literally translated, lent name).
This practice is illegal and leaves huge risk to the foreign buyer as they are putting the name of the property into someone elses name. It is possible to “Regularize” ejido property and convert it into a fully titled property. This allows anyone, including foreigners, to ultimately own the Mexico property, but the process requires the agreement of the entire community that owns it. This process can be costly, time consuming (five years is not uncommon) and is not guaranteed. If you are not scared off by the above, find yourself a firm that specializes in the regulation of these properties and seek independent legal counsel as well.
Do you have a question about the Puerto Vallarta Real Estate market? Just ask!
Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”
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