As mentioned in the Mexican constitution, no foreigner can acquire land directly in Mexico. If you are a Canadian who wishes to acquire land in the region called the restricted zone it needs to be done through a trust. Here are the four basic things you need to know about a bank trust here in Mexico. If you are … [Read more...] about 4 Basic Facts About Bank Trusts in Mexico
Mexico Fideicomiso / Bank Trust
There was once a time when Canadians and Americans were not allowed to buy property in Mexico that was 50 km from any coastline or 100 km of a neighboring country. This zone meant that nobody other than Mexican nationals were allowed to invest in lands located within these areas. However times have changed and the … [Read more...] about Mexican Corporation vs. Bank Trust
Yesterday, I had the pleasure of spending the day with an old friend of mine, one of our Top Brokers and one of the most significant contributors to professionalism and international connections for Mexico real estate. Among other items, we took a look at some of the most exciting developments in Playa del Carmen … [Read more...] about Linda Neil Explores Playa del Carmen Real EstateLinda Neil explora los bienes raíces en Playa del Carmen con nosotros.
We've received some very exciting and important news: It looks very likely that Americans, Canadians and other non-Mexicans will no longer be required to own property in Mexico by means of a Bank Trust! The Bill Passes the Chamber of Deputies This afternoon, Mexico's lower legislative house ("Chamber of … [Read more...] about BREAKING NEWS – Bill to Eliminate Mexico’s Bank Trust Passes First Step!Reforma a la ley permitirá que extranjeros puedan comprar propiedades en la playa.
Yesterday, a reliable Mexican newspaper called Milenio announced that 3 of Mexico's federal representatives have proposed a bill to remove the need for ownership by means of a Bank Trust (or "fideicomiso" in Spanish) and allow for direct ownership. If this bill is passed to law, it would make it simpler and even less … [Read more...] about No More Bank Trust for Mexico Real Estate Buyers?!?
A few days ago, I was very proud of our team here at TOPMexicoRealEstate when we got the following comment on our blog: I would just like to say thank you to the people at topmexicorealestate.com (Jacob Wall and Bjoern Koch) and BBVA Bancomer (Denisse Paredes, Alejandra Villafuerte and Laizmy Sandoval) for all their … [Read more...] about Your Top Source for Mexico Real Estate Information – What Shannon Has to Say About Our Service …
In this brief article, the idea of a “Fideicomiso,” or “Bank Trust,” is briefly discussed. This bank trust allows non-Mexicans can buy Mexico real estate in the “restricted zones.” There are 3 main points to cover: If you are buying in the “restricted zone” a bank trust is obligatory (see definitions below) If … [Read more...] about Buy Mexico Real Estate Safely – What is a Fideicomiso?
Every transfer of Mexico real estate property MUST, by law, be made before a Mexican notary public. The Mexican notary public is required to have a degree in law. He must have a minimum of five years of legal practice, pass a rigorous examination and then be appointed by the governor of the state in which he/she … [Read more...] about Mexico Real Estate Closing Advice and Role of the Closing Agent