{"id":7811,"date":"2013-12-31T13:06:33","date_gmt":"2013-12-31T19:06:33","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/temp-blog\/?p=7811"},"modified":"2017-08-28T16:13:14","modified_gmt":"2017-08-28T21:13:14","slug":"what-happened-to-the-new-mexican-bank-trust-law-where-did-it-go","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2013\/12\/what-happened-to-the-new-mexican-bank-trust-law-where-did-it-go\/","title":{"rendered":"What Happened to the New Mexican Bank Trust Law? Where did it go?"},"content":{"rendered":"
\"Property
You can legally own property on the Mexican Coast<\/figcaption><\/figure>\n

In the first quarter of 2013, we released the great news about new initiatives and law changes designed to abolish the Mexican bank trust<\/a> law, which has been legal loophole allowing foreigners to legally own property in the restricted zones of Mexico!<\/p>\n

While the Mexican bank trusts are both a safe and a non-threatening legal way to own a home in Mexico, some people still feel more comfortable with the idea of being able to personally hold the title on their own property.<\/p>\n

This news caused a surge of interest from Americans and Canadians poking at the idea of purchasing property in Mexico, and even more so when the law finally made it through its first hurdle, being passed by Mexico\u00e2\u20ac\u2122s lower chamber of law makers.<\/p>\n

But what happened after that?\u00c2\u00a0 Why no news since?<\/i><\/h2>\n

The new law has still been lingering waiting to be passed by the Senate in Mexico.\u00c2\u00a0 While it is expected to be an easy vote\u00e2\u20ac\u00a6a shoe in if you will; it may have been put to the side for a short time while Mexico\u00e2\u20ac\u2122s new President, Enrique Pena Nieto, focused on new reforms, taxes and education laws that took precedent over other topics.<\/p>\n

\"President
Law makers will be revisiting the Mexican bank trust law<\/figcaption><\/figure>\n

These new laws and reforms, which Nieto has been focusing on, were intended to boost Mexico\u00e2\u20ac\u2122s economy and also improve Mexico\u00e2\u20ac\u2122s education system.\u00c2\u00a0 But a shift in focus does not mean that hope is lost forever.<\/p>\n

The bank trust issue is still a very important one, both in the eyes of foreigners wishing to purchase property in Mexico<\/a>, and in the eyes of the Mexican government who want to encourage real estate sales to foreigners.<\/p>\n

We hope that 2014 will bring a new light on this issue and we can finally see some additional movement on the law change.\u00c2\u00a0 In the meantime, we must remember that even when the law gets passed, a little patience is still required.\u00c2\u00a0 If approved, it may take time before the law will actually go into effect.<\/p>\n

Holding a Bank Trust is a safe way to own property in Mexico!<\/h2>\n

We would like to reinforce the fact that the current law of needing to hold a Mexican bank trust is a very safe way to own property in Mexico.\u00c2\u00a0 You are the sole beneficiary of your Mexican property, and you can treat the home the same as if you held the title yourself; this includes collecting equity, selling your home, passing it down to other beneficiaries, making changes to the home, etc.<\/p>\n

What you may not have considered!<\/h2>\n
\"Purchase
You should never wait to follow your dreams<\/figcaption><\/figure>\n

In fact, even when the new law goes into effect, and you are no longer required<\/i> to hold a bank trust, the option to have one is still at your disposal.\u00c2\u00a0 The bank trust does hold additional benefits and securities, which you may actually find you prefer over not having one.<\/p>\n

Don\u00e2\u20ac\u2122t wait on your dreams!<\/h2>\n

If you have been holding out on buying property in Mexico<\/a> in hopes of the new law, we suggest you still move forward with your plans, as the law could still take quite some time before it actually gets passed.\u00c2\u00a0 Don\u00e2\u20ac\u2122t miss a great opportunity or a great deal if you find just what you have been looking for.<\/p>\n

Keep in contact with your trusted Mexico real estate agent and ask for updates on the movement of the new law.\u00c2\u00a0 We will also be happy to keep you posted when new news becomes available!<\/p>\n

Cheers in anticipation of an incredible 2014 for everyone!<\/p>\n

Update:\u00c2\u00a0Amendment to Mexican Bank Trust Law Rejected on a Technicality<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In the first quarter of 2013, we released the great news about new initiatives and law changes designed to abolish the Mexican bank trust law, which has been legal loophole allowing foreigners to legally own property in the restricted zones of Mexico! While the Mexican bank trusts are both a safe and a non-threatening legal […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1067,1858,64],"tags":[1069,1046,1068],"class_list":{"0":"post-7811","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-expert-opinion-2","7":"category-living-and-retirement","8":"category-mexico-real-estate","9":"tag-fideicomiso","10":"tag-mexico-real-estate-2","11":"tag-mexico-real-estate-laws","12":"entry"},"_links":{"self":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/7811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=7811"}],"version-history":[{"count":5,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/7811\/revisions"}],"predecessor-version":[{"id":9598,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/7811\/revisions\/9598"}],"wp:attachment":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=7811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=7811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=7811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}