Lot Mexico
Buying Land in Mexico
A lot of people have heard that people from the U.S. can't buy property in Mexico. This isn't entirely true. In fact the only real regulations are on the near th...
Lot Mexico
Buying Land in Mexico
A lot of people have heard that people from the U.S. can't buy property in Mexico. This isn't entirely true. In fact the only real regulations are on the near the border and coast. These areas are called the "restricted zone". The "restricted zone" is the area within 100 kilometers of any Mexican border and within 50 miles of any Mexican coastline.
Originally the "restricted zone" was created to protect Mexico from foreign attack. The goal was to keep any foreigner from owning land that could be used to bring in an army and launch an attack on Mexico. This was written into the Mexican Constitution in article 27. The constitution was signed in 1917 and made a lot of changes to who could own property.
From briefly look at this section of the Mexican constitution from 1917, it looks like it took a lot of land away from people. It changed the concept of land ownership to one where the government actually owns all the land and even though they sell it to individuals for use, the government can get it back if they want it. From what I've seen this doesn't happen very often and when it does it is similar to what happens in the U.S. when they put in a highway through an area that used to be private property-the government has to pay a reasonable price for the land.
Other than the "restricted zone" foreigners can own land subject to Mexican law. Just because you are a U.S. citizen doesn't mean the land becomes U.S. property. It is treated just like a Mexican citizen owned it.
If you are looking to buy property in Mexico keep in mind that there is no type of real estate license required. Anyone can sell real estate and there isn't any type of code of ethics that they all agree with. You will want to work with someone trust worthy.
If you want to purchase property in the "restricted zone" there are ways to do it. The Mexican government knows that selling land on the coast is a great way to bring in money not just for the sale of the property but for the local economy. U.S. citizens coming to Mexico and spending lots money are a great way for the country to profit financially. However since the law about the "restricted zone" is written into the constitution it would take a lot of political work to change.
The Mexican government came up with a way to work around the constitution. You can create a legal entity in Mexico and use it to buy the land. Since the land is owned by a Mexican entity, this fulfills the constitutional requirements. If this entity is a trust, a foreigner can be named as the beneficiary. The trust is administered by a Mexican bank which is obligated to act on the behalf of the beneficiary of the trust.
A Mexican corporation can own land and Mexican corporation can be 100% owned by a foreign investments. This should allow a corporation to buy land in the "restricted zone". However the corporation can only by land that is not for residential use and there are other restrictions on what the land can be used for. It appears that if you created a corporation and bought a shop that had living quarters above it, you might be able to live in above your shop, but I'm not sure.
If you are looking to buy land in Mexico make sure you find someone who you can trust who can help you through the process. Law change and just because something is legal to do doesn't mean it is the easiest way to go about purchasing property.
About the Author
The
Mexico 501
site offers insights into living and running a business from Mexico. You can find more helpful articles at
http://www.mexico501.com
. You can find more information about
purchasing real estate in mexico
at Mexico501.com as well.
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Ideas for Cheap Mexico Vacations
During these times of economic slowdown, recession and layoffs, life can be pretty stressful and monotonous. You feel that you are bound by shackles with nowhere to go, no respite from bad news on TV and all around. Perhaps, a vacation on a pristine beach in an exotic location is what the doctor ordered for you. You need to take out time for yourself and for your loved ones. A time to unwind, rejuvenate and get refreshed. But you may think how you can afford a vacation.
Believe me, you can have a perfect beach vacation that won't pinch your pocket. All you have to do is do some homework and plan out the whole Vacation in Mexico. Normally, while planning a beach vacation various factors come in to play. The first step in your preparation and planning should be selecting a location. If you want an exotic location then Mexico can be a perfect choice for Americans. It's very close to USA and many transportation options like airlines, car rentals, shuttles or your own transportation are available. Pick the one best suited to you and your budget. You can save a lot of budget in choosing judiciously. If choosing to go by air, select budget or cheap airlines since Mexico is quite close to USA . Going by road is another cheaper and fun option.
For a vacation in Mexico, choose the best beach. After all, this is what you have come for. Beach should be beautiful, clean and easy to reach. For accommodations choose rental condos or homes that are easily available in Mexico. These are much cheaper then staying in hotels. This is definitely an option for people living in border areas of USA close to Mexico.
Usually, there are several beach tour organizers which offer planned beach tour packages. Our advice is to stay clear of them if you want to save on money. Most of them are overpriced. Planning and making the arrangements yourself can save lot of money. All you have to do is invest sometime in researching for the best hotel deals or cheapest rental accommodations. Not only will you be able to save precious bucks but also gain lot of knowledge about the place you are visiting. Also, there is lot of freedom and flexibility when you are not bound by tour operator's timetable. You can pick and choose the best destination according to your preferences. When it comes to food, Mexico offers great cuisine. Hi class restaurants can burn a hole in your pocket. We suggest you to try local joints and street food. You can safely eat street food. Most of them have good hygienic conditions and serve delicious Mexican specialties.
Vacations are the times when you bond with your family. Connect with your inner self. Vacations are not just about huge expensive all inclusive resorts. Surely, you can choose that also. But in these trying times, we need to save for the future. But that doesn't mean that we have to forgo all the fun. You can make decisions wisely and plan a cheap beach vacation in Mexico. I am sure that you will go back to with loads of memories of your kids making sand castles, your wife and you sunbathing on the sand. These simple memories will last a lifetime and bring back a smile on your face whenever you will think of them.
Author: Aniruddha Badola
About the Author
MexicoSummer.com offers personalized assistance with Cancun Real Estate, Playa del Carmen Real Estate- in Mexico. The #1 Mexico Real Estate site offers a full range of Real Estate sevices for luxury vacation Villas, Condominiums in Mexico. If you are looking for any property in Mexico, just contact us. We will find it for you!
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