Article 27 of the Mexican constitution prohibits foreigners from owning land within 50 km of a coastline and 100 km of the border.
The
government,
realizing the benefits of allowing foreign investment, created the “
Fideicomiso”. A Fideicomiso establishes a bank trust with you as the
beneficiary. This 50 yr trust allows you to sell, build, rent use the
property anyway which you feel the need. The trust is
guaranteed renewable if you wish to, and can be
transferred to your heirs. Costa Tranquila can recommend a highly
trusted and competent facilitator to help you establish this trust. We
can also recommend an excellent Mexican attorney to do the same thing
if you wish.Buying property in Mexico has never been more secure and your investment will grow at a very rapid rate.
Although buying property in Baja is very safe and secure, some things that people should consider and ask when deciding to purchase property in Baja are the following,
First, Does the parcel that contains the lot you are considering to buy have a title insurance policy issued? In Baja, you must purchase the lot prior to applying for title insurance, so if the entire parcel has been insured, you will be able to get an insurance policy without much trouble
Secondly, has the parcel and lots been permitted through Semarnat (The Mexican environmental agency). Recently, Profepa (the enforcement side of Semarnat) has been issuing citations carrying heavy fines and holding up building until the legal permits have been obtained. Parcels that have been cited are having to go through environmental studies. The backlog has taken a year or more to process.
Thirdly, if a homeowners association is in effect, has it been officially registered with the public registry so the CC&R’s can be enforced?
