Realty
Executives Mexico knows you have
a lot of questions about buying and
selling real estate in Mexico. Here
are a few of our more commonly asked
questions and answers. Please email
us at info@realtyexecs-mexico.com
if you have a question.
Q: Is it legal for foreigners
to own property in Mexico?
A: Yes! Under Mexican law, specific
requirements exist for foreign ownership
of property in the restricted zones.
All of Realty Executives Mexico properties
are sold through a Bank Trust. The
bank trust holds the deed of property.
Trusts are good for 50 years and
can be renewed every 50 years. If
you would like more information on
Bank Trusts please click here.
Q: Will I own title to the
land?
A: Yes! The title to your land will
be held on your behalf by the Fideicomiso
bank trust as required by Mexican
law. Title insurance will be covered
by an individual title insurance
policy on the property.
Q: Do I have to go to separate
places to obtain escrow, mortgage
and title services?
A: No! Realty Executives-Mexico has
in-house Escrow, Title and Mortgage
services.
Q: Can the Mexican Government
confiscate my land?
A: Foreigners often worry about their
land being expropriated by the Mexican
government. Under the North American
Free Trade Agreement, NAFTA, Mexico
may not directly, or indirectly,
expropriate property except for a
public purpose. This is the same
as "Eminent Domain" in the U.S. Where
it is necessary to expropriate land,
swift and fair market compensation
must be paid, together with accrued
interest.
Q: What happens if the bank
fails?
A: In the event the holding Bank
should ever fail, be bought by an
unauthorized Bank, etc., what happens
to the Fideicomiso? Answer - the
Fideicomiso will be transferred to
another authorized Bank. The Bank
does not own the Fideicomiso, you
do!
Q: Can my family inherit
my property?
A: Yes! Inheritance in Mexico is
actually easier than in the U.S.
since the property can be inherited
directly without the delays and expense
of probate as long as a will is in
place. There is no inheritance tax
in Mexico as long as a will exists.
Q: Can I legally own property
without a bank trust if I have an
FM2?
A: No, the only way a foreigner can
own property in Mexico without a
bank trust is to become a Mexican
citizen or to have a corporation.
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