Ways to Hold Property in Mexico.
Mexican foreigners can own a beachfront home and live full time in Mexico.
There are 4 ways here is #1.
Mexican Bank Trust- Fideicomiso
Foreigners can buy a property in Mexican beaches through a bank trust, the bank holds title to the property. Foreigner owns the right of the property for 50 years. The property you hold in a Bank Trust is yours to improve, build, sell, leave in your estate, etc. You'll enjoy all the same rights you have in US. Fee simple real estate via the Bank Trust.
If you sell your Trust Rights to a Mexican National, he has the option to take title in his name in the Trust or remove the property from the Trust and take title in "Escritura" (Mexican National form of Ownership). Sometimes the Mexican National will decide to pay the annual Trust fee and stay within the Master Trust, specially, if they decide in a future sell the property to another foreigner. Once he removes the property from the Master Trust, it is more expensive for the property to be placed in a New Trust for the buyer.
When you decide to sell your property another foreign person can purchase your Trust Rights. Your buyer will have the required documents from you to instruct the Bank of the sale and the name will be changed, that also includes your beneficiaries. Your Real Estate broker should assist you in order to change the status and transfer the name.
If you are looking for a property in Baja California Mexico we can help you to find the best property for you.
Please don’t hesitate to contact us
RE/MAX BAJA REALTY
(619) 270 5446
Comments (0)Subscribe to CommentsComment