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Under Mexican Law, private ownership of land by foreigners is permitted. However, the law clearly
states the way land rights are to be transferred from seller to buyer, and the type of lands that
are not available for public ownership. A Notary Public (Notario Publico) guides you through the steps
and details of this. Below is some helpful general information.
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Property may be purchased and owned for residential use by foreigners outside of the 100km land border zone that is restricted and outside of the 50km coastal zone, which is also restricted.
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Inside of the restricted border & coastal zones, foreigners are able to own land through a fidecomiso (a trust) which is done through a Mexican bank that provides for ownership of the land and property in all forms, except name.
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*The above information belongs to and has been taken from www.Mexperience.com
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| Owning Land in Mexico Can I? |
Yes, but there is a restricted zone that is stated in the Mexican Constitution which does not allow
foreigners to acquire direct ownership of land within 100 kilometers along the border
or 50 kilometers along the coast.
However, foreigners can obtain all the rights of ownership in the restricted
zones by using a bank trust, known as a "fideicomiso". Because Vallarta falls within the restricted
zone, a foreigner must use a bank trust.
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*The above information belongs to and has been taken from www.MLSVallarta.com
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| The Fideicomiso (Trust) What is it? |
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A foreigner wanting to purchase land can have a Mexican bank of his/her
choice to act as a trustee on his/her behalf. The fideicomiso (trust) is able to be established for
a maximum of fifty (50) years and can be renewed automatically for another period of fifty (50) years.
The title can be transfered to any other party. In this scenario, the bank is the legal owner of the
property for the exclusive use of the buyer/beneficiary, who carries all the benefits of a direct owner.
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*The above information belongs to and has been taken from www.MLSVallarta.com
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| Notary Public in Mexico What's his/her role? |
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The most important person that will be involved in the buying process is the Notary
Public (notario publico). Every Notary Public (notario publico) is appointed by the
State Governor, the highest seat that is in Mexico's State Public Office. Whom to use
as a Notary Public is the buyer's decision.
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Power of the Notary Public includes but are not limited to the ability to witness
and certify business documents that require complete authenticity. The Notary Public
will be responsible for the management and storage of all original records. To become
a Notary Public (notario publico), a person must be at least thirty-five (35) years
of age, have obtained a degree in law, have a minimum of three (3) years work experience
at a Notary Public office and also he/she must pass a rigorous exam. The persons whom
pass the exam (in time), are appointed by the State Governor as a Notary Public.
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Mexican Law states that all property deeds must be prepared by a Notary Public. The buyer
retains the right to decide which Notary Public he/she is going to use.
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To be sure that a real estate transaction is able to move forward, the Notary Public will make
certain that all documentation and permits are valid and in order.
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It is highly recommended that everything official that pertains to a real estate transaction be
done with your Notary Public. Taking copies of all documents to your Notary Public is also
highly recommended.
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*The above information belongs to and has been taken from www.Mexperience.com
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| Real Estate Agent Should I use one? |
Yes, it is recommended to use a Real Estate agent when purchasing property in Mexico.
There are potential obstacles that an Agent can help guide you through and unless you
are a fluent Spanish speaker, you are already at a disadvantage. Along with creating
a smoother process, Real Estate Agents also have access to many marketing tools, like
the MLS Vallarta, to which sellers do not have access.
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*The above information belongs to and has been taken from www.MLSVallarta.com
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| Real Estate Transactions How are they done with Tropicasa Realty? |
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Tropicasa Realty only does transactions through established Escrow accounts.
This gives absolute security and safety to a buyer for all real estate transactions
as the account follows regulations of license law and holds the funds on
behalf of the broker's principal until the consummation or termination of
the transaction. In event the transaction does not come to consummation, all funds
are transfered back to the buyer.
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| Necessary Parties in a Real Estate Transaction Who are they? |
| #1 Real Estate Company |
| #2 Lawyer (the buyer's) |
| #3 Mexican Bank |
| #4 Notary Public (Notario Publico) |
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*The above information belongs to and has been taken from www.MexOnline.com
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| Multi-List Vallarta (MLV) |
 Multi-List Vallarta is a marketing tool for real estate offices so that they can promote their properties in the best way possible to prospective purchasers. For an agent to get his/her properties listed, he/she must work with a MLV member office. |
| Asociacion Mexicana de Profesionales Inmobiliarios (AMPI) |
 AMPI is the Mexican Real Estate Association. It has three chapters in Puerto Vallarta that provide traditional real estate services and also ensure that realtors are behaving according to the highest professional standards. There is no licensing currently for realtors in Mexico; however, in Puerto Vallarta AMPI has stepped in to fulfill a similar role. |
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