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Frequently Ask Questions

Can I own property in Mexico?

Absolutely!!!  Foreigners are able to own all kinds of property in Mexico.  In fact,  the majority of prime real estate in Playa del Carmen is owned not only by Mexicans, but more and more by Americans and Canadians.

  • You are not just legally allowed to buy e.g a condo in the Riviera Maya, the Mexican government actually has been doing a lot of extra efforts in order to make it safe and simple.
  • It is legal and absolutely safe and my job as a realtor is to guide you through each step.
  • You will own your piece of paradise in one of two ways:
  • Through a Banktrust ( e.g. Scotiabank ) or a local Corporation

What is a banktrust?

You choose which bank acts as the Trustee,  but it is you and those you designate, who are the Beneficiaries of the trust.

  • It is you maintaining complete control over the Fideicomiso/Banktrust.
  • This is not a lease, it is equivalent to a Living Trust in the US.
  • Here is what you do:  enjoy, lease, improve, mortgage, sell, inherit and will.
  • In my opinion it always creates trust that you own through a entity administered by a Mexican bank on your behalf

What is the Historical Background:

To own in the restricted area, the government requires foreigners to use a banktrust.

  • Outside that area, you can own rightaway in your name.
  • The "restricted zone" is any land within 31miles (50 km) of the coastline and 62 miles (100 km) of the borders.
  • Mexico created and added the fideicomiso to encourage foreign investment in the highly desirable areas, specially where those amazing white sandy beaches are located.
  • In the 18th and 19th century Mexico suffered from enormous land loss and the government decided if foreign investor work hand in hand with the Mexican Enteties, this won't happen again.

Important Things to know when Buying in Mexico

So who is on my team and who are the other people involved in a real estate transaction in Mexico?

Here is how it works.

  • Real Estate Company
  • Buyer's lawyer
  • Bank (for the banktrust)
  • Public Notary

Your Realtor

Buying property in Mexico might be a bit different than back home.

  • That is why is so important to have the right people on your side .
  • You need a combination of experience, a knowledgeable  real estate agent, who is able to explain each step in detail to you and  makes sure, that you buy secure and smart.
  • Most important is dedication. Dedication to you as an client and a realtor who loves his job and sees you as what you are. A client worth being protected and taken care of.
  • The goal is that you have not only finnd your perfect property in Mexico, but lots of very good friends.

The Lawyer:

He/She is representing you and protecting you in all your legal transactions.

Our lawyer is fluent in English and she is licenced lawyer in Mexico. 

  • In addition to the legal aspect, an attorney can be very helpful in saving you money along the way.
  • Attorneys  usually have contacts with banks, notaries and the Mexican government. They know all costs and fees involved and make sure the buyer is given the best prices with the best service possible.
  • a good team of realtor and lawyer will save thousands of Dollars for you in the future.
  • The Public Notary:
  • A Mexican Notary (Notario Publico) is a licensed attorney, who is a certified representative of the Mexican Government.
  • A Mexican Notary provides legal security of original records and documents and theyare in charge of recording the documents with the Public Registry of Property and they can be held liable in both civil and criminal terms, which guarantees their integrity.
  • The notary performs the authentication of legal documents, they are in charge of the calculation of capital gains tax and are as well responsible for ratifying ALL real estate transactions and all kinds of other transactions in Mexico. 
  • In our case of a real estate purchase the notary is neutrally responsible to the buyer and the seller and ultimately responsible to the Mexican Law/Government.
  • Their job is to ensure the legality of the transfer of title, for more info, please check out the following link about Notario Publico in mexico

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