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Owning Property in Mexico

Can Foreigners Own Property in Mexico?


The Real Estate Question you have always asked…

Can Foreigners Own Property in Mexico?

Absolutely!

Real Estate Ajijic ChapalaEven as a tourist, you may buy real estate in Mexico. With proper advice, it is safe and easy. Foreigners who buy real estate in Mexico, have the full protection of the Mexican law.

In the interior of Mexico, where Lake Chapala is, foreigners can obtain direct ownership of property and have their own name on the title, and can even name beneficiaries.

On the coast, and close to the borders, (in what is called the ‘restricted zone’), foreigners can still buy property, but must set up a bank trust (or Fideicomiso). All real estate transactions involving a trust are governed by federal law.

Mexican Notary Public.
It is important, however to use the services of a Mexican Notary Public. In Mexico, every legal document must be made before a notary public. The Notary Public is a public official appointed by the State Governor (he has a higher standing than an attorney/lawyer). He is legally responsible that everything is in order. I can introduce you to the recommended Notary Publics in our area.

An interesting fact.
Much of the real estate trade Lakeside is between foreigners and most of the prices are in US Dollars.

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