MUST
READ DOCUMENTS:
- Riviera Maya Investment
Guide
(pdf)
- Taxes in
México
- Why Retire in
México
- Buying and Selling Property in
México
- FAQ
- Ejido Land vs Private
Property
WHY BUY PROPERTY IN THE MEXICAN
CARIBBEAN ?
Not only the sun and the white sandy beaches,
combined with the turquoise coloured sea, but
also the boom of shopping centres, services,
businesses and entertainment centres convert the
Mexican Caribbean into the most important
residential tourist destination in Latin America
. Giving you an average annual appreciation of
15 – 20 %
The best time to buy and invest
in property in the Mexican Riviera is
now. We have a select number of properties
in Mexico in the preconstruction phase, the
earlier your entry point in the constrution
process, the better your real estate investment
will perform.
CAN A FOREIGNER PURCHASE PROPERTY IN
MEXICO ?
YES, THROUGH A REAL ESTATE TRUST OR
¨FIDEICOMISO¨
Out of security reasons the Mexican
government allows foreigners, within the
restricted zone of 50 km from the coastline and
100 km from any border, to own property only
with a bank trust or fideicomiso.
The bank holds the trust deed for the
purchaser of the property but the property is
not part of the bank´s asset and cannot be
subject to any lien or attachment for any bank
obligations. You have the right to appoint
substitute beneficiaries who will receive the
rights in case of death during the life of the
trust. The heirs would not have to go through a
long process in Mexican courts, they only inform
the bank showing the death certificate and their
identification. The bank will then register them
as the new owners.
A big advantage of the trust is, that the
bank would automatically review the transaction
to ensure it was legal and, together with the
notary check the documents before allowing the
closing, making sure that the purchased property
is legal and without liens.
HOW LONG DOES A TRUST REMAIN IN
EFFECT AND CAN IT BE RENEWED?
The normal trust period is for 50 years but
it can be easily renewed by giving instructions
to your bank. In case you sell the property the
trust can also be transferred to the new owner
if desired. There is a fee for setting up a bank
trust and these fees vary from bank to bank.
The rivieramayanow.com team will help
you with all the paperwork to set up your trust!
In Mexico you don´t have to hire an attorney
for the closing of your transaction. Notaries
are by the state government appointed lawyers
who have the power and authorization to close
real estate transaction. Before closing the
Notary determines the costs which will usually
run between 5 – 7 % of the sales price of the
property.
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