Question 1

Can a USA or Canadian citizen own real estate in Mexico?

Accepted Answer

Yes, by placing the property in a bank trust. (Fideicomiso)

Question 2

Can a USA or Canadian citizen own real estate in Mexico?

Accepted Answer

Yes, by placing the property in a bank trust. (Fideicomiso)

Question 3

Can I own property near or in front of the ocean?

Accepted Answer

Yes, laws passed in 1973 and 1993 have made it possible for foreigners, foreign firms, and Mexican firms with foreign participation to acquire interests in coastal real estate through a bank trust.

Question 4

Can I own property near or in front of the ocean?

Accepted Answer

Yes, laws passed in 1973 and 1993 have made it possible for foreigners, foreign firms, and Mexican firms with foreign participation to acquire interests in coastal real estate through a bank trust.

Question 5

Who is involved in a Bank Trust?

Accepted Answer

Three parties. The seller of the property is the Trustor, the bank is the Trustee (Fiduciario), and the buyer is the Beneficiary (Fideicomisario.)

Question 6

Who is involved in a Bank Trust?

Accepted Answer

Three parties. The seller of the property is the Trustor, the bank is the Trustee (Fiduciario), and the buyer is the Beneficiary (Fideicomisario.)

Question 7

How much does the Bank Trust cost?

Accepted Answer

Based on the current fees, the bank charges parties opening a Bank Trust the initial fee of approximately $500 USD for establishing the Trust plus they collect the first year's annual fee of about $500 depending on the bank.

Question 8

How much does the Bank Trust cost?

Accepted Answer

Based on the current fees, the bank charges parties opening a Bank Trust the initial fee of approximately $500 USD for establishing the Trust plus they collect the first year's annual fee of about $500 depending on the bank.

Question 9

Are there additional fees for the Bank Trust?

Accepted Answer

Yes. The bank charges an annual fee to cover its services as a Trustee. This fee is usually between $450 and $600 USD.

Question 10

Are there additional fees for the Bank Trust?

Accepted Answer

Yes. The bank charges an annual fee to cover its services as a Trustee. This fee is usually between $450 and $600 USD.

Question 11

How does the Trust function?

Accepted Answer

Title of the property is transferred to a trust with a Mexican bank acting as Trustee. The Trust Agreement is formalized by the issuance of a permit from the Mexican Ministry of Foreign Affairs. The property buyer is designated as Beneficiary in the Trust and the beneficiary rights are recorded in the public record by a Notary Public.

Question 12

How does the Trust function?

Accepted Answer

Title of the property is transferred to a trust with a Mexican bank acting as Trustee. The Trust Agreement is formalized by the issuance of a permit from the Mexican Ministry of Foreign Affairs. The property buyer is designated as Beneficiary in the Trust and the beneficiary rights are recorded in the public record by a Notary Public.

Question 13

What are my rights as a buyer?

Accepted Answer

The Trust is a legal substitute for fee simple ownership, but in many cases, the Trustee is the legal holder of the property. As Beneficiary, you have the right to sell your property without restriction. You may also transfer your rights to a third party or pass it on to named heirs.

Question 14

What are my rights as a buyer?

Accepted Answer

The Trust is a legal substitute for fee simple ownership, but in many cases, the Trustee is the legal holder of the property. As Beneficiary, you have the right to sell your property without restriction. You may also transfer your rights to a third party or pass it on to named heirs.

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