The number of people from the United States and Canada who wish to purchase property on the Mexican coastline is growing. Los Cabos and surrounding areas have become popular places for people to build or purchase vacation homes, condos, or full-time residences. However, Mexican law presents challenges to foreign real estate investors, and you always want the guidance of a real estate attorney near Los Cabos if you are looking to complete a real estate transaction. Contact Baja Liberty Law Firm to learn how we can help you purchase the property of your dreams.
Foreign citizens cannot purchase certain coastal properties outright like you would in the U.S. or Canada. There is a workaround that allows you to have ownership rights despite the prohibitions in Mexican law, and it involves using a fideicomiso. This is a Mexican bank trust that owns the property, and then you receive the benefits of ownership as a beneficiary of the bank trust. You can use the fideicomiso to pass property on to other beneficiaries, as well. We handle this entire process.
In Mexico, real estate transactions are overseen by state-appointed lawyers called Notario Públicos. These lawyers handle the title search and transfer, all recording requirements with the Public Registry, tax calculations, and more. We represent your interests to the Notario to make sure that your transaction goes smoothly.
Just like condos in other parts of North America have HOAs, Mexican condominium complexes have condo regimes. The regime documents must be approved by the government, and these agreements impose limitations and responsibilities on condo owners. We help you understand all of your obligations and restrictions under a condo regime before you purchase.
If you have a more large-scale development project in mind, the process is more complicated than forming a fideicomiso and completing a purchase. After you purchase the land you want, you need to obtain all the construction licenses and permits required in Los Cabos. We help with full compliance for investors and developers.
Mexico has properties referred to as Ejido land, which were granted to whole communities to preserve farming abilities. If you have your eye on a piece of Ejido land, you must first try to convert it from Ejido to private property. If successful, you can purchase it through the above procedures. We can evaluate whether a purchase of prior Ejido land is possible for your situation.
If you are seeking to purchase a property in the Los Cabos area, you need to follow the proper process due to Mexican legal restrictions. The legal team of Baja Liberty Law Firm assists real estate investors in the U.S. and Canada to successfully complete their real estate transactions or development projects. Contact us for more information and a discussion of your options today.
We would highly recommend Francisco Gonzalez to handle any legal issue you may encounter. Francisco is a exceptional individual. Francisco handled our four year residency application and delivered just as he said he would. He is in our opinion a decent honest man. He was a joy to work with.
We were very impressed with the team of Attorneys at Baja Liberty who were able to draft several urgent documents on a Saturday and get the Notary to come to our house and notarize them on a Sunday.
We decided it would be a good idea to have a will in Mexico for our assets here. While we were at it we had a healthcare advance directive drawn up for use in Mexico. Francisco was able to seamlessly draft the language for the documents, organize all of the…
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