Can foreigners own property in Mexico?

Yes. Foreigners can own property in Mexico, including beach properties, through ownership of a Mexican corporation or a Fidecomiso (Bank Trust).

What form of ownership should
I use to purchase property in Mexico ?

Generally, a Mexican Corporation would be formed for those doing business in Mexico, and a Fidecomiso for those living full or part time in Mexico, but not engaging in business activities.

Can foreigners get free simple title in Mexico ?

YES. Free Simple Title can be obtained for foreign ownership of a Mexican Corporation or Fidecomiso (Bank Trust) which holds the title.

What is a Fidecomiso ?

A Fidecomiso is a bank trust that is set up to hold ownership of land for a foreigner. The trust is for 50 years, is renewable, and the beneficiary has all the rights of ownership to buy, sell, improve, encumber or otherwise own the property in question.

Do I need an attorney ?

It is advisable for someone purchasing property in Mexico for the first time to seek qualified legal counsel.

How do I set up a Mexican corporation ?

A Mexican attorney can advise you how to set up a Mexican Corporation. The Corporation can be 100% owner by foreigners (minimum of two shareholders). Shareholders of a corporation are able to obtain an FM3 (work visa) for doing business in Mexico.

For doing business in Mexico.
What is a Notario and do I need one ?

A Notario prepares and records titles and agreements, verifies that the agreements are legal, and is an official witness to and guarantor of signed and notarized agreements.

What are the steps or procedures for making an offer and closing a property purchase safely in Mexico ?

When an offer is made and terms are agreed to, an agreement is prepared and presented for signature, the buyer at that time places a deposit to guarantee performance. The title history of the property is then researched and a legal opinion on the history and counsel on the form of ownership to hold the property should be obtained.

When all the contingencies are satisfied, the sales contract documents are prepared. Then both Party's sign the documents before a Notario, the balance of funds according to the terms of the agreement are exchanged, and then the Notario records the completed sale.

Can I get title insurance in Mexico ?

YES you can, it is possible to obtain US title insurance on Mexican Real Estate. We are pleased to offer Title Insurance for direct (or corporate) ownership, leasehold and trust beneficial ownership ("fidecomiso") covering commercial and residential properties, including restricted zone (beachfront and border) properties through a major international title company.

What does the title insurance cover ?

The policies include specific title risk coverage against marital rights, fraud, mortgages, mechanic's and / or tax liens, easements, contractual obligations restricting the use of the property, adverse possession by a third party, forgery and other matters not of record (based upon receipt of acceptable surveys, surveyor's certificates or affidavits, seller's affidavits and real property tax certificates). The policies insure against loss from defects in title unknown to the insured prior to the date of the transfer of title or loan that were not otherwise stated in the policy, regardless of whether the loss results from errors in the Public Registry, errors in the search of the Public Registry or any other cause. They also cover access to the land. The policies are written in English, insure in dollars and pay claims in dollars. They are US policies covering land in Mexico issued directly by a Title Company in the US. Coverage continues for the duration of the time that the insured holds its interest in the real property.

Are there escrow services in Mexico ?

Mexico does not have escrow accounts per se, funds are usually held by the Seller. However, through a major international title company, we are able to offer escrow services for Mexican transactions, with funds held in an international escrow account arranged through a US bank.