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