castaway$
Senior Nomad
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Fee simple Title
I heard that there is a pending proposal in the government that would allow Americans to hold property with a "fee Simple Title' just like here in the
U.S., can anyone confirm this or is it just a rumor.
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Bob and Susan
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rumor
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Alan
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I believe that you already can in Mexico. Just not within so many miles of a coast or so many miles of a border. Unfortunately this excludes ALL of
Baja.
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Hook
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Not a rumor.........just not likely to pass as legislation. Only a proposal by one legislator.
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capt. mike
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as i understand it, and i am trying to do so constantly - i am no expert here - just a guy hoping to get a nice place south one day, that a
"foreigner" can NOT own real property anywhere in mexico - ocean front or not. Only a corporation owned by foreigners can do this. Otherwise you can
do what amounts to a lease often renewable which for most purposes functions as owning. so you own the vertical improvements but the dirt will always
belong to mexico thru the trust.
works for me as i can't take it with me as it were.
i don't see that law changing either, by nature i think mexicans are very nationalistic.
is this assessment true??
formerly Ordained in Rev. Ewing\'s Church by Mail - busted on tax fraud.......
Now joined L. Ron Hoover\'s church of Appliantology
\"Remember there is a big difference between kneeling down and bending over....\"
www.facebook.com/michael.l.goering |
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Bob and Susan
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the bank holds the title in a "trust"
the foreigner has control of the "trust" for 50 years renewable for another 50 years
(there's thousands and thousands of these in baja)
you can buy "fee simple" 60 miles from the border or beach
i don't see changes in the future either...
the referance to the rumor "fee simple title in mexico" came from one politician...it JUST won't happen...at least soon
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oldlady
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Based on Article 27 of The Mexcian Constitution, Alan has it right. In the non-restricted area you can own fee simple, or the Mexican equivalent
thereof. The restricted area is 100km from the border and 50km from the coast.
That's the definition at the federal level. States can make their own real estate laws too.
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Dave
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NO, it don't
| Quote: | Originally posted by Alan
I believe that you already can in Mexico. Just not within so many miles of a coast or so many miles of a border. Unfortunately this excludes ALL
of Baja. |
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Dave
Elite Nomad
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Registered: 11-5-2002
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NO, it don't
| Quote: | Originally posted by Alan
I believe that you already can in Mexico. Just not within so many miles of a coast or so many miles of a border. Unfortunately this excludes ALL
of Baja. |
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