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