Rights as Foreigner

Imagine living here!!

Many Americans and Canadians have a misconception that it is illegal for foreigners to own property in Mexico because of article 27.1 of the Mexican constitution, which prohibits foreigners from acquiring direct ownership of land or property within a zone of approximately 66 miles from a foreign border or approximately 33 miles from the coast, known as the “restricted zone”.  However, in 1993, Mexico adopted the Foreign Investment Law (FIL), which amends article 27.1, allowing foreigners to own residential property in the “restricted zone” exclusively through a “Fideicomiso”. 

A Fideicomiso, (which continues to be one of the most commonly misunderstood legal instruments in residential real estate), is a trust agreement where a bank serves as a trustee, and has a fiduciary obligation to the buyer, or “beneficiary”. The beneficiary of the trust (the buyer) retains and enjoys full rights of ownership of the property, including the right to use, mortgage, lease, modify, and sell the property as desired. Despite the beneficiary of the trust having the same absolute rights as if owned directly (fee simple) in the United States and Canada, the indirect ownership (trust) structure, renewable every 50 years,  naturally confuses most buyers and unfortunately results in the common misconception that foreigners are prohibited from owning a piece of the Mexican dream.

For those of you not familiar with American Development, we have built houses in Playacar Phase 1, Phase 2, and all up and down the Riviera Maya. We have many satisfied clients (which your clients can call for referrals) and can build a custom house, start to finish.

Featuring- Beautiful Home on the golf course , Choose the finishes you want designed by our in-house Architects!

• Price: $625,000 (Prices are subject to change per final agreement)
• Location: Between the 9th and 18th hole of Robert Hagge Championship Golf Course.
• Lot Size:720 m2, among the biggest in PlayaCar.
• House Size: 
  4 Bedrooms, 4 Baths with in-ground pool!

 For more information visit: www.American-Development.com