Residential
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Maricarmen Guillen
Owner/Broker
mguillen@remax.net
Owner/Broker
mguillen@remax.net
Through a trust(fideicomiso)the only legal instrument and the most advantageous available,foreigners can acquire land in Mexico for residential or touristic purposes, having the samerights and obligations that a full ownership property gives.
In Mexico, a Trust Institution is that banking institution which is authorized to open fiduciary accounts and conduct trust operations. The Trustee (bank institution) holds legal title to the real estate property during the term of the trust.
In the trust deed, the present owner of the land would appear as the settler or trustor (fideicomitente) and would thereby deliver title of the real estate to the trustee (you)who would hold the property during the life of the trust, 50 years.
As the Trust Beneficiary, you will have the use and possession of the property, that is, you also have the capacity to instruct the Trustee on mortgaging the real estate, renting , selling,or transferring .
According to article 13 of this Law,; the Foreign Affairs Ministry shall allow the renewal of trusts over the restricted zones upon expiration of their term (up to 50 years)
 |
Bedrooms : 2
Bathrooms : 2.5
Sq. Ft. : 1350
Location :
Villas del Mar
View: Beach
$598,000 US
Bathrooms : 2.5
Sq. Ft. : 1350
Location :
Villas del Mar
View: Beach
$598,000 US
Bedrooms : 2-3
Bathrooms : 2
Sq. Ft. : 1450
Location :
Chac Hal Al
View: Beach
$500,000 US
Bathrooms : 2
Sq. Ft. : 1450
Location :
Chac Hal Al
View: Beach
$500,000 US
Bedrooms : 3
Bathrooms : 3
Sq. Ft. : 1450
Location : Chac Hal Al
View: Beach
$795,000 Us dlls
Bathrooms : 3
Sq. Ft. : 1450
Location : Chac Hal Al
View: Beach
$795,000 Us dlls
Bedrooms : 1
Bathrooms : 1
Sq. Ft. : 925sqft
Location : Center
View: Dolphins
$175,000 Us dlls
Bathrooms : 1
Sq. Ft. : 925sqft
Location : Center
View: Dolphins
$175,000 Us dlls
Aventuras
Maricarmen Guillen
Owner/Broker
mguillen@remax.net
Owner/Broker
mguillen@remax.net
| Thank you , for considering us as your Real Estate Team! We work to make your real estate transaction as smooth as possible! We will assist you through the entire process, assisting you on today's market. We want to earn your business, not just now, we want to be your Realtors for Life. We pride ourselves on Quality not Quantity. . |
Mexican Law allow' s foreigners to acquire the rights to use, enjoy and avail of real estate
located in the coastal and border areas of Mexico, through a "Fidelcomiso Contract'
(TRUST) - which is the only legal instrument and the most advantageous available for
foreigners to acquire land in Mexico for residential or tourist purposes, having the same
rights and obligations that a full ownership property gives.
The following is an FAQ from one of the Mexican banks about buying properties and
setting up an account through them.
1. What is a trust institution?
In Mexico, a Trust Institution is a Banking Institution which is authorized to open fiduciary
accounts and conduct trust operations. The Trustee holds the legal title of the real estate
property during the term of the trust, and is also empowered with rights and powers
necessary to achieve the objectives of the contractual agreement creating the trust.
2. What characteristics would have a trust agreement (fideicomiso)?
In the trust deed, the present owner of the land would appear as the settler or trustor
(fidelcomitente) and would thereby deliver title of the real estate to the trustee who would
hold the property during the life of the trust (50 years).
The buyer (you) would appear as the Beneficiary (fideicomisarlo) having the absolute
use and avail of the property.
The legal effect of the trust deed is that the Trustee keeps temporary ownership of the
real estate, complying with ArtIcle 27 of the Mexican Constitution that prohibits foreigners
from full ownership of real estate located 50 kilometers wide along the coastlines and 100
kilometers wide along the border areas of Mexico. This areas are known as the
"restricted zone".
As foreigner you cannot ever record title to land in the "restricted zone", but you can own
the beneficial interest from the trust agreement. It is, in a way, like owning 100 percent of
the shares of a corporation, which in turn owns a farm (the corporation does); it is for
most practical purposes like ownership.
3. What requirements are necessary?
You or the seller must provide to the Bank the following documents and information:
proceed to apply at the Foreign Affairs Ministry (Secretarla de Relaciones Exterlores) for
the permit authorizing the trust deed.
Upon obtaining the said permit the bank shall proceed to execute and legalize the trust
deed before a Notary Public. Notaries in Mexico have far greater legal status and
competence than those in the United States. The Notary Public is an Attorney at Law who
is authorized by the State Government to give final formality to the title transfer process
in his protocol book. The resulting document taken from this protocol book is registered
at the Public Registry of Properties, and it will give evidence of title in the name of the
buyer.
In the event that you cannot be present at the signing of the trust deed before the notary
public, you should send us a letter where you accept the terms of such trust agreement.
4. What rights and obligations does the beneficiary assume upon the
celebration of the trust deed?
As the Trust Beneficiary, you will have the use and possession of the property, that is,
you may live on the land, undertake any alterations and improvements. You also have
the capacity to instruct the Trustee on mortgaging the real estate, renting it, selling,
transferring your beneficial interests to another person or corporation, or performing
anyone of the acts that by law derive from the ownership.
If you sell the property to another foreigner, you may assign your beneficial interest to
the new purchaser. This assignment of rights must be formalized before a Mexican Notary
Public, prior the payment of the federal and local taxes and fees that arise from the
transfer of Beneficiary rights.
You will have the obligation to pay the duties on the land, i.e.: real estate and water
service taxes, the condominium maintenance fees, if applicable, as well as the Trustee's
annual fee.
5. What approximate fees will the trustee charge for this type of trust? (prices
given only as approximation)
6. What other expenses must the beneficiary meet upon the celebration of the
trust deed?
You must pay the fees, taxes and expenses that arise from the purchase as well as the
formalization of the trust deed before a mexican notary public.
The cost and taxes of the operation are the same as those that would be paid for a
normal title transfer from one Mexican to another.
Also, you wilt pay the cost of the permit $2,700 Pesos( as a minimum) that must be
obtained from the Foreign Affairs Ministry to acquire the property in trust, and the
recording of the trust deed at the National Registry of Foreign Investments.
7. What happens if the beneficiary should die during the legal period of the
trust?
The Beneficiary has the right to appoint substitute(s) beneficiary (ies) who will receive all
the rights and obligations that arise from the trust if the beneficiary dies during the life of
the trust.
With this designation of substitute beneficiaries, your heirs will not need to follow any
probate proceeding before the mexican courts, that could take time and Attorney's Fees.
They would only have to give notice to the bank of the decease and show the death
certificate and their Identifications, then the Bank will accept and register them as the new
owners (beneficiaries) of the Trust Property, without any cost.
8. What will happen at the expiration of the trust?
On December 27, 1993 a Presidential decree was issued establishing the new Foreign
Investment Law (Ley de Inversiones Extranjera). According to article 13 of this Law, the
Foreign Affairs Ministry shall allow the renewal of trusts over the "restricted zones" upon
expiration of their term (up to 50 years) Furthermore, the Foreign Affairs Ministry may
authorize a new trust over real estate transferred from one trust to another for a period
up to 50 years when the beneficiaries of the original and the new trust are different.
For More information please contact Re/Max Aventuras
located in the coastal and border areas of Mexico, through a "Fidelcomiso Contract'
(TRUST) - which is the only legal instrument and the most advantageous available for
foreigners to acquire land in Mexico for residential or tourist purposes, having the same
rights and obligations that a full ownership property gives.
The following is an FAQ from one of the Mexican banks about buying properties and
setting up an account through them.
- What is a trust institution?
- What characteristics would have a trust agreement (fideicomiso)?
- What requirements are necessary?
- What rights and obligations does the beneficiary assume upon the celebration of
the trust deed? - What fees will the trustee charge for this type of trust?
- What other expenses must the beneficiary meet upon the celebration of the trust
deed? - What happens if the beneficiary should die during the legal period of the trust?
- What will happen at the expiration of the trust
1. What is a trust institution?
In Mexico, a Trust Institution is a Banking Institution which is authorized to open fiduciary
accounts and conduct trust operations. The Trustee holds the legal title of the real estate
property during the term of the trust, and is also empowered with rights and powers
necessary to achieve the objectives of the contractual agreement creating the trust.
2. What characteristics would have a trust agreement (fideicomiso)?
In the trust deed, the present owner of the land would appear as the settler or trustor
(fidelcomitente) and would thereby deliver title of the real estate to the trustee who would
hold the property during the life of the trust (50 years).
The buyer (you) would appear as the Beneficiary (fideicomisarlo) having the absolute
use and avail of the property.
The legal effect of the trust deed is that the Trustee keeps temporary ownership of the
real estate, complying with ArtIcle 27 of the Mexican Constitution that prohibits foreigners
from full ownership of real estate located 50 kilometers wide along the coastlines and 100
kilometers wide along the border areas of Mexico. This areas are known as the
"restricted zone".
As foreigner you cannot ever record title to land in the "restricted zone", but you can own
the beneficial interest from the trust agreement. It is, in a way, like owning 100 percent of
the shares of a corporation, which in turn owns a farm (the corporation does); it is for
most practical purposes like ownership.
3. What requirements are necessary?
You or the seller must provide to the Bank the following documents and information:
- A copy of the real estate title or deed Indicating the exact surface area and
bounds of the property, and a certificate of no debt of Federal, Local or municipal
Taxes. (These documents are given by the seller). - Your name, nationality, occupation, address and phone number. (copy of your
passport, Immigration form (in case), phone or other service bill mail to your
address) - The name(s), nationality, address(es) and phone number of the substitute(s)
beneficiary (ies) for the case of your decease during the life of the trust. - The agreed purchase price.
proceed to apply at the Foreign Affairs Ministry (Secretarla de Relaciones Exterlores) for
the permit authorizing the trust deed.
Upon obtaining the said permit the bank shall proceed to execute and legalize the trust
deed before a Notary Public. Notaries in Mexico have far greater legal status and
competence than those in the United States. The Notary Public is an Attorney at Law who
is authorized by the State Government to give final formality to the title transfer process
in his protocol book. The resulting document taken from this protocol book is registered
at the Public Registry of Properties, and it will give evidence of title in the name of the
buyer.
In the event that you cannot be present at the signing of the trust deed before the notary
public, you should send us a letter where you accept the terms of such trust agreement.
4. What rights and obligations does the beneficiary assume upon the
celebration of the trust deed?
As the Trust Beneficiary, you will have the use and possession of the property, that is,
you may live on the land, undertake any alterations and improvements. You also have
the capacity to instruct the Trustee on mortgaging the real estate, renting it, selling,
transferring your beneficial interests to another person or corporation, or performing
anyone of the acts that by law derive from the ownership.
If you sell the property to another foreigner, you may assign your beneficial interest to
the new purchaser. This assignment of rights must be formalized before a Mexican Notary
Public, prior the payment of the federal and local taxes and fees that arise from the
transfer of Beneficiary rights.
You will have the obligation to pay the duties on the land, i.e.: real estate and water
service taxes, the condominium maintenance fees, if applicable, as well as the Trustee's
annual fee.
5. What approximate fees will the trustee charge for this type of trust? (prices
given only as approximation)
- As a trustee's acceptance charge, US$550 (as a minimum) payable only once
upon the signing of the Fideicomiso. - For handling and management of the Fideicomiso, depending on the real value of
the property held in trust, with a minimum of US$550 . This fee is subject to
payment in advance. - Every year, on the anniversary date of the trust, the Bank shall mail to your
address or E-Mail you the bill of the annual fee for keeping the property in trust.
6. What other expenses must the beneficiary meet upon the celebration of the
trust deed?
You must pay the fees, taxes and expenses that arise from the purchase as well as the
formalization of the trust deed before a mexican notary public.
The cost and taxes of the operation are the same as those that would be paid for a
normal title transfer from one Mexican to another.
Also, you wilt pay the cost of the permit $2,700 Pesos( as a minimum) that must be
obtained from the Foreign Affairs Ministry to acquire the property in trust, and the
recording of the trust deed at the National Registry of Foreign Investments.
7. What happens if the beneficiary should die during the legal period of the
trust?
The Beneficiary has the right to appoint substitute(s) beneficiary (ies) who will receive all
the rights and obligations that arise from the trust if the beneficiary dies during the life of
the trust.
With this designation of substitute beneficiaries, your heirs will not need to follow any
probate proceeding before the mexican courts, that could take time and Attorney's Fees.
They would only have to give notice to the bank of the decease and show the death
certificate and their Identifications, then the Bank will accept and register them as the new
owners (beneficiaries) of the Trust Property, without any cost.
8. What will happen at the expiration of the trust?
On December 27, 1993 a Presidential decree was issued establishing the new Foreign
Investment Law (Ley de Inversiones Extranjera). According to article 13 of this Law, the
Foreign Affairs Ministry shall allow the renewal of trusts over the "restricted zones" upon
expiration of their term (up to 50 years) Furthermore, the Foreign Affairs Ministry may
authorize a new trust over real estate transferred from one trust to another for a period
up to 50 years when the beneficiaries of the original and the new trust are different.
For More information please contact Re/Max Aventuras
