Buying Property South of the Border
- Purchasing real estate in Mexico has changed dramatically over the past ten (10) years for foreign, non-Mexican nationals. Beginning in 1994, the federal government of Mexico liberalized ownership provisions of all property within the constitutionally protected area known as the "prohibited zone". Prospective buyers outside of Mexico's borders seeking to buy tourist (housing developments, condominiums and time share projects), rustic, industrial or urban property can now enjoy greater legal freedom and ownership rights as mandated and protected under Mexico's new foreign investment law.
- In Mexico , as in the U.S. , the transfer of real estate property rights are administered by federal, state and local laws. Foreign nationals wishing to acquire property are subject to permission and registration with Mexico's Department of Foreign Affairs. This federal level agency is responsible for awarding the lawfully required permits and authorizations to purchase land in the Mexican Republic , as well as to acquire real estate properties or rights thereto.
Let us know if you would to receive more information about:
- Buying property in Mexico not like buying property in the US
- Relevant Topics
- Does the seller have legal title?
- How do I confirm that a seller has legal title?
- Contracts and Agreements
- Major difference between US and Mexican transactions
- Closing the deal and the role of Notario Publicos
- What about buying property in the 'prohibited zone'?
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