Property Ownership in Mexico

The restricted zones in Mexico include properties within a specific distance of any border with another country and costal properties within a certain distance of the shoreline. To obtain ownership of these properties a foreigner can simply implement a 'Fideicomiso' or bank trust. The bank trust serves as a trustee or legal owner and holds title to the property while the beneficiary retains exclusive rights to use and control the property. With this system in place any foreigner can own property anywhere within Mexico.

Purchasing property outside of the restricted zone is a simple process and includes the services of a real estate company, a Mexican lawyer, a notary and a bank if the purchaser is using a mortgage to secure his property. Because real estate agents in Mexico are not licensed, foreigners are advised to choose their real estate guide carefully. Attorneys in Mexico on the other hand are licensed and foreigners should ask for credentials before making a commitment. An attorney will be the most helpful once a property has been chosen. He can investigate the title to ensure a legal transfer. He will prepare contracts and documents and review the terms of the contract to ensure all conditions are legal and binding. Your attorney can also guide you to the best real estate related services available at a reasonable cost. This is an excellent benefit of hiring an attorney and can save the property purchaser a considerable amount of money.