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ligui
Senior Nomad
Posts: 833
Registered: 2-9-2008
Location: Fraser co.
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Mood: love Baja !
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New mexician land law
Anybody know when they are going to vote on the bill that will let anyone buy land in coastal areas .
Thanks
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DENNIS
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| Quote: | Originally posted by ligui
Anybody know when they are going to vote on the bill that will let anyone buy land in coastal areas .
Thanks |
It'll never happen. 
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Marla Daily
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Article 27 of the Mexican Constitution to allow foreigners to directly own residential real estate within the restricted zone. Before the results
actually become law, the bill will need to pass through several more steps, including the following:
1. Approval by the Federal Senate,
2. Approval by a majority of the State congresses
3. Signed into law by the President
4. Published and announced in the daily government newspaper
Supported by a large majority, the reforms are likely to navigate the legislative process and become official law. The Mexican Senate’s session,
however, ended on April 30th and they will not meet again until September. As a result, this reform should be among the first orders of business. As a
central initiative of the multi-party alliance Pacto por México, the reforms will be a priority.
Once the reforms are approved, the fideicomisos (trusts) that are currently in place will remain so, even though they will no longer be a requirement.
After all, the Mexican land trust, the fideicomiso, is really just a contract with a financial institution that stipulates that the bank is going to
hold onto a piece of property (can be real estate, a corporation, liquid asset, etc.). As a result, any contracts currently valid should remain in
place and stay legally binding.
[http://www.ellscpas.com/mexico-reform-fideicomiso-foreigners-property/]
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Kgryfon
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Good info, thanks.
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Russ
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I was under the impression that the bill had already passed both houses and would be signed by the President. It was now in the process of being
written into an acceptable form to add to the constitution then be voted on by the general public.
Please correct me if I an incorrect.
Bahia Concepcion where life starts...given a chance!
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BajaBlanca
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A government employee who was staying with us told Les that the bill is now LAW. He told him to wait a month (this was quite recent) til the dust
settled.
[Edited on 6-1-2013 by BajaBlanca]
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rts551
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I was always under the impression that a constitutional amendment was required. That would require that the states ratify it.
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rts551
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April 24, 2013
MEXICO CITY (AP) -- The lower house of Mexico's congress voted Tuesday to loosen longstanding restrictions on foreigners buying property along the
coast and the nation's borders, a proposal that drew stiff criticism from some quarters.
The measure, which passed 356-119 in the Chamber of Deputies, still needs approval from the Senate and a majority of the country's 32 state
legislatures to become law.
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wessongroup
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Thanks, that helps ...... I think 
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Udo
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I am with Blanca on this new law.
I just renewed my FMM and the official doing the paperwork told me that I should convert mt Fido as soon as possible since the new land ownership law
is now in effect.
However, that said...
I think we would have a lot more chatter here on Nomads about the issue.
Udo
Youth is wasted on the young!
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monoloco
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A Mexican attorney friend of mine in La Paz, told me last week that she thinks this will eventually become law, but she thinks that it will take 1
1/2- 2 years before it's implemented.
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Marla Daily
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Russ' impression is incorrect; the government employee who stayed with BajaBlanca is misinformed; the immigration official who helped Udo is wrong;
and the attorney friend of Monoloco simply expressed her personal opinion given the current status of things.
The following STILL needs to occur:
1. Approval by the Federal Senate
2. Approval by a majority of the State congresses
3. Signed into law by the President
4. Published and announced in the daily government newspaper
The process will continue when the senate reconvenes in September. Tal vez sí, tal vez no!
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rts551
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| Quote: | Originally posted by Udo
I am with Blanca on this new law.
I just renewed my FMM and the official doing the paperwork told me that I should convert mt Fido as soon as possible since the new land ownership law
is now in effect.
However, that said...
I think we would have a lot more chatter here on Nomads about the issue. |
If the law (constitutional amendment) was in effect, there would be a lot more "chatter" in the formal media....
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DENNIS
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Even if the law is changed [which I strongly doubt will happen in our life's time] owners still won't have to sell their land, and it will open up a
whole new category of fraudulent land sales and thoughtless purchases.
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rts551
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Dennis, I think the law might change this time....but yes. A lot more "problem" sales whether fraudulent or not.
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DENNIS
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| Quote: | Originally posted by rts551
Dennis, I think the law might change this time.... |
If it does, Ralph, it will have so many provisions as to make it meaningless.
Mexico isn't doing this to attract retirees. They want big business......international investors......Club Med.
With all of this progress will come laws of Eminent Domain, so all of you waterfront owners should keep your bags packed and hope this never happens.
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BajaBlanca
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Udo, you are very funny!
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wessongroup
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| Quote: | Originally posted by DENNIS
Even if the law is changed [which I strongly doubt will happen in our life's time] owners still won't have to sell their land, and it will open up a
whole new category of fraudulent land sales and thoughtless purchases. |
Couldn't this be viewed as "growth" in some fashion
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boe4fun
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So IF and WHEN this is passed and implemented, what does one do if they currently have a fideicomiso; let it expire, keep it in place, have it legally
deconstructed?
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DENNIS
Platinum Nomad
Posts: 29510
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| Quote: | Originally posted by boe4fun
So IF and WHEN this is passed and implemented, what does one do if they currently have a fideicomiso; let it expire, keep it in place, have it legally
deconstructed? |
I doubt plans that far in the future have been made.
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