As long as you are legally in Mexico you can buy property here as a foreigner.
You can own the property through a Mexican bank trust or in your own name. A bank trust (fideicomiso) is where a Mexican Bank holds he “legal title” and the buyer is the beneficiary of the bank trust.
Your interests in the trust are transferable. There are some advantages in certain circumstances, but most people want to own property in our area by direct deed in their name.
Should you decide to own property in you own name, a deed called an escritura, must be prepared by a Mexican notary public. In the Mexican state of Quintana Roo where we are located it’s possible to name beneficiaries in the deed as long as they are your spouse, your parents or your natural children.
If you want your property to pass to others you should then have a Mexican will prepared to save on probate and other fees at the time of death. A US will will work, but much better to have a Mexican will done, if only to cover the property you own here in Mexico.
Trust us with your next real estate transaction. We are reliable and experienced and can assist you with all of your real estate needs.
Our friendly, professional sales associates are experienced at providing you with all the possible options to make your dreams a reality. The well-appointed beachfront condominiums and houses offer a variety of possibilities, whether you are looking for vacation rental property or a second home. Other residential choices are conveniently located near golf courses and a variety of recreational facilities.
If you are considering Playa del Carmen retirement, it’s important to note that life in this area is much more than just owning a nice property on the beachfront. Whether retirees choose to buy Playa del Carmen real estate or enjoy a Playa del Carmen vacation rentals, they will enjoy a wide range of interesting and unique activities.
More information visit American Development,Co.