General questions
Can foreigners buy real estate in Mexico?
Absolutely! All foreigners, including Americans and Canadians, can buy real estate in Mexico. The process is generally simple, with a key step involving the establishment of a bank trust, known as an "escrow."
Unleashing real estate possibilities: the trust explained
A trust serves as a legal mechanism that facilitates the management, ownership and use of real estate in Mexico by non-Mexican persons. The essence of this agreement is that you enjoy all rights of ownership of real estate, while a Mexican bank acts as legal fiduciary and holds title on your behalf.
Navigating the restricted zone: a smart solution for expats
For those interested in Mexico's coveted Restricted Zone, where much of the country's prime real estate is located, a trust provides an effective alternative solution. This restricted zone covers any territory within 50 kilometers (31 miles) of the coast and 100 kilometers (62 miles) of any border with Mexico. With a trust, expats can seamlessly navigate property ownership in these sought-after areas, making their real estate aspirations a reality.
WHAT IS THE ROLE OF THE NOTARY PUBLIC IN MEXICO?
In the course of a real estate transaction in Mexico, the Notary Public plays a fundamental role. Your responsibilities include authenticating all legal documents, overseeing the transfer of title, calculating capital gains tax, and formalizing all real estate transactions. It is essential to keep in mind that a real estate transaction has legal validity only when it is registered in the Public Registry by a Notary. This ensures the integrity and legality of real estate transactions in Mexico.
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