Americans owning land in mexico
I did not want to take over the other post about illegals buying houses here so I started another,,,yes Americans can own land in Mexico,,My dad owned 100 acres below the border,he bought it to bird hunt,we left shotguns and all down there and would go down several times a year to hunt,he had a caretaker that lived there year around for free rent to take care of the place,,you can own land direct as long as it is not in the restricted zones,,if it is the restricted zones you have to let a bank hold it for you in trust,,the only thing you cannot own in Mexico is the mineral rights ,they belong to the government,here is a C&P about how to do it,,its not hard,,after dads death we sold his property in Mexico to another American..
The Mexican Constitution prohibits direct ownership of real estate by foreigners in what has come to be known as the "restricted zone." The restricted zone encompasses all land located within 100 kilometers (about 62 miles) of any Mexican border, and within 50 kilometers (about 31 miles) of any Mexican coastline. However, in order to permit foreign investment in these areas, the Mexican government created the "fideicomiso," (FEE-DAY-E-CO-ME-SO) which is, roughly translated, a real estate trust. Essentially, this type of trust is similar to trusts set up in the United States, but a Mexican bank must be designated as the trustee and, as such, has title to the property and is the owner of record. The Mexican Government created the "fideicomiso" to reconcile the problems involved in developing the restricted zone and to attract foreign capital. This enabled foreigners, as beneficiaries of the trusts, to enjoy unrestricted use of land located in the restricted zone without violating the law.
A "fideicomiso" is a trust agreement created for the benefit of a foreign buyer, executed between a Mexican bank and the seller of property in the restricted zone. Foreign buyers cannot own real estate in the restricted zone due to Constitutional restrictions. The bank acts on behalf of the foreign buyer, taking title to real property. The bank, as trustee, buys the property for the foreigner, then has a fiduciary obligation to follow instructions given by the foreigner who is the trust beneficiary. The trust beneficiary retains and enjoys all the rights of ownership while the bank holds title to the property. The foreigner is entitled to use, enjoy, and even sell the property that is held in trust at its market value to any eligible buyer.
The Mexican Constitution prohibits direct ownership of real estate by foreigners in what has come to be known as the "restricted zone." The restricted zone encompasses all land located within 100 kilometers (about 62 miles) of any Mexican border, and within 50 kilometers (about 31 miles) of any Mexican coastline. However, in order to permit foreign investment in these areas, the Mexican government created the "fideicomiso," (FEE-DAY-E-CO-ME-SO) which is, roughly translated, a real estate trust. Essentially, this type of trust is similar to trusts set up in the United States, but a Mexican bank must be designated as the trustee and, as such, has title to the property and is the owner of record. The Mexican Government created the "fideicomiso" to reconcile the problems involved in developing the restricted zone and to attract foreign capital. This enabled foreigners, as beneficiaries of the trusts, to enjoy unrestricted use of land located in the restricted zone without violating the law.
A "fideicomiso" is a trust agreement created for the benefit of a foreign buyer, executed between a Mexican bank and the seller of property in the restricted zone. Foreign buyers cannot own real estate in the restricted zone due to Constitutional restrictions. The bank acts on behalf of the foreign buyer, taking title to real property. The bank, as trustee, buys the property for the foreigner, then has a fiduciary obligation to follow instructions given by the foreigner who is the trust beneficiary. The trust beneficiary retains and enjoys all the rights of ownership while the bank holds title to the property. The foreigner is entitled to use, enjoy, and even sell the property that is held in trust at its market value to any eligible buyer.
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maybe the beach is in a restricted zone [?][?][?] 0 -
Yet we let them run free here, not even holding them bound to our law. GRRRRR 0 -
After they own the US, I'm gonna retire move down there. Afraid I'll be in prison though, after a short time. 0 -
quote:After they own the US, I'm gonna retire move down there. Afraid I'll be in prison though, after a short time
You are joking but I know 4 different people/couples who moved south of the border after retiring,,you can live like a king on 1500 a month and the life style is very slow and laid back,all of them moved together to Cabo san lucus ,they have a 25yr lease on a beach house with 6 bedrooms, 5 bathrooms ,cost them 1200 a month rent, very nice house for $300 each a month ,they are all living on their social security and not drawing a dime of retirement and living large [;)]0 -
a few years ago the mexican government stole about 150 homes from americans just south of the border. 0
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