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Hiring Legal Counsel For Your Homeowners Association

Serving on a Homeowners Association board can be time-consuming and at times stressful. There are many regulations and laws, including state and condo laws which the complex must abide by; it can be difficult to understand and comply with the various legal obligations. Moreover, since the condominium complex is made up of many different personalities, emotions can run high when you are addressing issues regarding people's homes and their investments. It is always best to have legal counsel on board before problems arise, be prepared and do not wait till there are serious issues before hiring an attorney. Competent legal...

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Americans with Mexican Investments, Do You Know About Form 8938?

U.S. citizens and resident aliens are required by law to report any worldwide income, including any income from foreign trusts and foreign bank and securities accounts. These laws also require all non-US financial institutions to report the identities and assets of any US citizen to the US treasury. Form 8938, is a Statement of Specified Foreign Financial Assets This form is used to report foreign financial assets if the total value of all the foreign financial assets in which you have an interest in exceeds the reporting threshold. U.S. taxpayers living in the US and holding specified foreign financial assets with an...

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Quick Facts About Assemblies for Condominium Owners in Mexico

Foreigners who are thinking about investing in Mexico, whether as a 2nd home or a permanent relocation,  typically have a condo near the beach in mind. Downsizing and enjoying a more affordable lifestyle go hand in hand with living in Mexico. Living in a condominium has many advantages such as easy upkeep, security, amenities, swimming pools and fitness centers,  investment, an opportunity for rental income, and also a social aspect which comes with living in a condo complex. Condominium ownership is best described as real estate of any shape or size available for individual ownership with undividable common areas for...

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Frequently Asked Questions Regarding Foreigners and Title Deed in Mexico

As an investor in Mexican real estate, it is essential to understand the title registration process and have reliable legal representation before you hand over your money. Foreigners risk losing everything if they do not hire a reputable law firm to represent them and ensure they receive the title on the property.

Marketing Tips For Your Vacation Rental Property in Mexico

Foreigners looking to invest in a second property or retirement home are looking towards Mexico. The constant influx of tourists arriving on both coasts of Mexico, Riviera Nayarit, and the Riviera Maya indicate a demand for vacation rentals, is impacting foreign interest in real estate opportunities.

Both of these Mexican beach locations have a huge demand for rental properties with a growing number of travelers preferring to stay in private residences over big brand resorts.

What You Should Know About Consumer Rights in Mexico

If you have ever been mistreated by a business or service provider in Mexico, you may feel you do not have any recourse or options to resolve the issue. It seems the employees do not have the authority or the enthusiasm to deal with your complaint. If you feel you have been taken advantage of and do not get any satisfaction from the manager, you can contact PROFECO. PROFECO (Procuraduría Federal del Consumidor), is a government agency tasked with enforcing the law and investigating possible violations. They respond to complaints from residents and tourists, perform random inspections on Mexican businesses...

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What is Your Immigration Status in Mexico?

According to a recent immigration census taken by the National Institute of Geography and Statistics and the US State Department one million Americans are living in Mexico and many do not have legal status. The census also reveals an increase since 2015 of 37.8% Americans overstaying their tourist permits, stating there were 673, 866 Americans living illegally in Mexico in 2015, and estimating the current numbers are at least 934,698. The majority of Americans residing in Mexico are retired and simply come on a tourist permit of 180-days, decide to stay but do not apply for their residency. It is easy...

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Due Diligence and Protecting Foreign Property Owners in Mexico

Foreigners thinking about buying property in Mexico may hear the term “due diligence” this is a vital step of purchasing real estate in Mexico. You may see in the news that foreigners have lost their property in Mexico, finding out the property had a developer or construction lien against it,  the land was not authorized to be sold, real estate fraud or a long lost relative making claim on the land. Take the proper steps to prevent this situation from happening to you. Due diligence is the process performed that guarantees you do not lose possession of your property. Whether...

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Tourism in Mexico Continues to Increase as Travel to the US Declines

Tourists are scrapping the idea of heading to the United States for vacation in favor of spending their vacation in Mexico. Trump's rhetoric, the attempted travel bans and detention of travelers are affecting US tourism, coupled with the US dollar making it less affordable for other countries to visit. The prediction that travels to the US would see a drastic decrease has become a reality as American travel agencies are experiencing a massive decline in US tourism. The travel websites have already seen a significant drop in travel searches to the US. The travel site Kayak for one, reports a...

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Renovations in Mexico, Protect Your Real Estate Investment with a Legal Contract

If you plan on renovating or building a new home in Mexico, you need a legal contract between you and the contractor. As in any country, you would not hand over the money and trust someone with such a large investment. Entering into a legal contract with your contractor will protect you and your property from budget overruns, fraud, and litigation.   Living in Mexico you may notice that prices and quotes change, and mañana may not mean tomorrow, home construction can be one of the most stressful events in your life, you need to know you can rely on your...

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