| A lot of people have heard that people
| |
| | someone trust worthy.
|
| from the U.S. can't buy property in
| |
| | If you want to purchase property in the
|
| Mexico. This isn't entirely true. In
| |
| | "restricted zone" there are ways to do
|
| fact the only real regulations are on the
| |
| | it. The Mexican government knows that
|
| near the border and coast. These areas
| |
| | selling land on the coast is a great way
|
| are called the "restricted zone". The
| |
| | to bring in money not just for the sale
|
| "restricted zone" is the area within 100
| |
| | of the property but for the local
|
| kilometers of any Mexican border and
| |
| | economy. U.S. citizens coming to Mexico
|
| within 50 miles of any Mexican coastline.
| |
| | and spending lots money are a great way
|
| Originally the "restricted zone" was
| |
| | for the country to profit financially.
|
| created to protect Mexico from foreign
| |
| | However since the law about the
|
| attack. The goal was to keep any
| |
| | "restricted zone" is written into the
|
| foreigner from owning land that could be
| |
| | constitution it would take a lot of
|
| used to bring in an army and launch an
| |
| | political work to change.
|
| attack on Mexico. This was written into
| |
| | The Mexican government came up with a way
|
| the Mexican Constitution in article 27.
| |
| | to work around the constitution. You can
|
| The constitution was signed in 1917 and
| |
| | create a legal entity in Mexico and use
|
| made a lot of changes to who could own
| |
| | it to buy the land. Since the land is
|
| property.
| |
| | owned by a Mexican entity, this fulfills
|
| From briefly look at this section of the
| |
| | the constitutional requirements. If this
|
| Mexican constitution from 1917, it looks
| |
| | entity is a trust, a foreigner can be
|
| like it took a lot of land away from
| |
| | named as the beneficiary. The trust is
|
| people. It changed the concept of land
| |
| | administered by a Mexican bank which is
|
| ownership to one where the government
| |
| | obligated to act on the behalf of the
|
| actually owns all the land and even
| |
| | beneficiary of the trust.
|
| though they sell it to individuals for
| |
| | A Mexican corporation can own land and
|
| use, the government can get it back if
| |
| | Mexican corporation can be 100% owned by
|
| they want it. From what I've seen this
| |
| | a foreign investments. This should allow
|
| doesn't happen very often and when it
| |
| | a corporation to buy land in the
|
| does it is similar to what happens in the
| |
| | "restricted zone". However the
|
| U.S. when they put in a highway through
| |
| | corporation can only by land that is not
|
| an area that used to be private
| |
| | for residential use and there are other
|
| property-the government has to pay a
| |
| | restrictions on what the land can be used
|
| reasonable price for the land.
| |
| | for. It appears that if you created a
|
| Other than the "restricted zone"
| |
| | corporation and bought a shop that had
|
| foreigners can own land subject to
| |
| | living quarters above it, you might be
|
| Mexican law. Just because you are a U.S.
| |
| | able to live in above your shop, but I'm
|
| citizen doesn't mean the land becomes
| |
| | not sure.
|
| U.S. property. It is treated just like a
| |
| | If you are looking to buy land in Mexico
|
| Mexican citizen owned it.
| |
| | make sure you find someone who you can
|
| If you are looking to buy property in
| |
| | trust who can help you through the
|
| Mexico keep in mind that there is no type
| |
| | process. Law change and just because
|
| of real estate license required. Anyone
| |
| | something is legal to do doesn't mean it
|
| can sell real estate and there isn't any
| |
| | is the easiest way to go about purchasing
|
| type of code of ethics that they all
| |
| | property.
|
| agree with. You will want to work with
| |
| |
|
