Buying a real estate property in Mexico

[memocruz]

Foreign citizen in Mexican soil, are not allowed to buy a piece of land within 50 kilometers from the coast; therefore, any agreement signed by yourself will be not valid and you could lose all your investment.

However, they are several legal options that let you make business in real estate in Mexico; hence, it is necessary write a preliminary agreement before you do any money transfer.

Also, it is necessary review all the documentation related the vendor and the land in order to be sure that everything is according to law and you won’t take unnecessary risks.

Before any transaction you have to ask to the Real Estate realtor about the following documents:

-Land property title certified by a Mexican notary;
-Free litigation and Mortgage certificate (Cerificado de libertad de gravamen);
-Official designated number certificate (Alineamiento y numero oficial);
-Destination ground certificate (Uso de suelo);
-Executive project authorized by the Municipality;
-Construction license certificate;
-Final agreement draft.

Then you have some option:

-A Mexican citizen or a Mexican company could sign a preliminary agreement for you and eventually, a final agreement;
-You could be a shareholder of a Mexican company or fidecommissaryin a special trust;
-Also you could get a power of attorney in order to dispose about each property.

If you have any question or comment please feel free to contact us.