Question Details

Manuel Molina, Home Buyer in Arizona

Can I buy beach front property in Mexico?

Asked by Manuel Molina, Arizona Wed Jul 4, 2007

Can I have full ownership?

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Answers

2
Yes if you are a Mexcian citizen. If you are not a citizen then you cannot buy property outright in the restricted zone which is typically 100km from the border or 50km from the coast. You have to buy the property through a bank trust otherwise known as a fideicomiso. Don't go at this alone. Use a broker and the MEXICAN licensed attorney they suggest. The way this works is that the bank is the owner of the property and places it in trust and you are a beneficiary of the trust. Where are you thinking of buying?
Web Reference: http://www.teamlynn.com
1 vote Thank Flag Link Thu Jul 5, 2007
You can own land within the resticted zone.. This is done by setting up a corporation in Mexico which then buys the land. You own the company and the company owes the land. If a trust is involved then you have to have a trust for each plot of land. A Mexican Corporation can own many plots of land including beachfront.
Flag Thu Dec 27, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Manuel:
Only citizens of Mexico can buy beach front property there as individuals. Foreigners usually buy properties through a figure called "fideicomiso" which is similar to a trust. You should consult an attorney or specialist in real estate sales to non-Mexicans in Mexico to assist you with the transaction. Check out the info in the Coldwell Banker site of Rocky Point.
1 vote Thank Flag Link Wed Jul 4, 2007
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