Purchasing property in Mexico to live as ex-pats from the United States or Canada is becoming increasingly popular, and it might be more affordable than you’d imagine. While there are many exciting real estate opportunities for both individuals looking for a new residence and developers seeking a larger-scale project, the process can be complicated for foreign investors. At Baja Liberty Law Firm, our lawyers offer real estate services to many parties looking to invest in the Baja California Sur, Mexico, region. Contact our office today for more information.
There are certain prohibitions on foreign ownership of highly coveted coastal properties under Mexican law. However, the workaround for purchasers is the fideicomiso, which is a Mexican bank trust. This type of trust allows you to invest in a property as a beneficiary of the fideicomiso. Though the trust owns title to the property, you retain all the same rights as any other property owner.
Our firm helps people navigate the fideicomiso process if you need to create, modify or cancel existing trusts, leave property to beneficiaries through the fideicomiso, and other services.
Notario Públicos are experienced lawyers appointed by the Mexican state to oversee all real estate purchases. In Baja California Sur there are 30+ notaries in the entire state. They oversee all real estate transactions, power of attorneys, wills, etc. When buying or selling property, all purchasers must register their properties with a Notario, who works to ensure there is a clear title and the purchase is properly recorded at the Municipal Public Registry. The Notario also calculates applicable taxes (property gain tax for sellers and acquisition tax for buyers), authenticates the relevant legal documents, transfers title to the property, and more. Our lawyers work closely with Notario Públicos to ensure everything goes smoothly.
Many properties in Mexico are classified as Ejido land, which is land owned collectively by communities – historically for use as farmland. This designation presents obstacles to private purchasers, as the law prohibits foreign investors from purchasing Ejido land. As of 1992, however, protected Ejido land can be converted into private land and sold to outside parties. However, there are many things to consider such first right of purchase for families of sellers (derecho del tanto), many properties don’t have an official title only a property certificate, and Ejido transactions have their own courts. We can assist in determining the possibility of privatizing certain Ejido land and overseeing the investment process through a fideicomiso.
Guidance regarding condominium regime in Mexico is essential for condo developers and those seeking to purchase individual condo units. The regime can oversee everything from development and construction permits and licenses to the collection of owner fees and owner use agreements. The condo regime must be notarized, properly registered, and approved by the government. All owners should fully understand the terms of a condominium regime.
Anyone purchasing land for development in Baja California Sur needs legal professionals who can address the many complex logistical and legal issues that are involved in such projects. From investigating the history of the property, making sure the property is free of liens and any possible future legal dispute to acquiring all the permits and studies involved. From the purchase transaction itself to construction permits and licensure, our team can assist every step of the way.
When you need assistance with real estate investments in Mexico, the team at Baja Liberty Law Firm is ready to help. Contact us to learn more about our real estate and corporate law services and how we can help you make your dream of owning Mexican real estate a reality.
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…
Francisco speaks fluent English, translates easily and is a tenaciously efficient navigator of the various agencies. He is extremely talented, respectful, and well-spoken in dealing with the municipal, state, and federal agencies necessary to resolve my complicated issue.
Francisco Gonzalez has solved for me numerous legal problems both as a friend and as my legal representative. He’s a highly competent and experienced attorney. As a Canadian widow I came across several people who tried to take advantage of my situation in Mexico, and Francisco handled my problems with…
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