Ejido: Farming land owned by a legal entity, or group called the Ejido. Collective land that can now be privatized. Foreigners cannot acquire rights to Ejido property. Through a proper process, the Ejido can sell to a Mexican individual. The Mexican can then sell to a foreigner. Escritura Publica: The document issued by the notary to transfer ownership of property. The escritura is a public deed. If there is bank trust for foreign ownership it is described in the escritura. In the escritura the banks define its authority and sets out its fees.
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Real Estate in Mexico
Buyers & Sellers Deserve Ethical AgentsThis article is about pre-construction, new developments, as well as resales. There is a particular ethical and moral way in which buyers and sellers should deal with each other, and most of the time, the person who has to keep the negotiation on this level is the agent (agents) involved. This is our responsibility to recognize and require that everyone involved work on the highest level of reason and fairness. This subject has nothing to do with negating capitalism or denying a buyer or a seller a good deal.
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Using its Most Valuable Asset – Real Estate
How Mexico Brought in Direct InvestmentA client who recently bought a condo in Puerto Vallarta, called and said, “Please write a summary of the basic points of foreign ownership: so that not only I can speak about it better, but to teach or remind other foreigners what a unique opportunity we have to own properties near the ocean in Mexico.” This is a summary of the characteristics of a fideicomiso trust:
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Mexican Real Estate Closings
Handling Prorations and TransfersBuying and selling real estate in Mexico is similar to the closing process in Europe and South American countries: A notary (specialized attorney appointed for life) is empowered to transfer real estate. Using a notary for closing is different from US and Canadian transactions. The notary in most of the world is the highly trained and paid professional we use here in Mexico. A notary public in our experience is not by any means the same profession; even though the names are the same.
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Harriet Murray
Owner / Agent
Email: harriet@casasandvillas.com
USA/Canada: +1 (504) 298-6730
Puerto Vallarta: +52 (322) 223-4027
Puerto Vallarta Cel: +52 (322) 205-7550
