02 February

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Recognizing a Timeshare Resale Scam in Mexico

Posted by Mexlaw

Mexico’s weather, beaches and lower living expenses have captivated many vacationers. In addition, the dream of owning a second home in paradise makes visitors easy targets for timeshare sales agents. Before they know it, they are swept away by the possibilities and wind up signing on the dotted line and purchasing a timeshare in Mexico. Once the excitement wears off some buyers may have regrets. Luckily there is a small safety net in Mexico - a five-business-day grace period in which to cancel a timeshare contract (despite what the salesperson tells you). However, if the grace period has passed by the...

02 February

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Avoiding Online Real Estate Scams in Mexico

Posted by Mexlaw

in Legal Services, MexLaw, Real Estate

Researching properties online is a great way to get an overall view of available properties in Mexico. It is exciting to search and dream about purchasing one of the amazing vacation homes featured on the net. The internet is also a great tool to search for the most popular areas, or if you prefer the most secluded properties and obtain the general price range of your new home. However, there are many online real estate scams, here are a few pointers from our Mexican Real Estate Legal Team on how to avoid them. Do not engage with an online “seller”...

26 January

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Love, Marriage and Real Estate in Mexico

Posted by Mexlaw

in Immigration, Legal Services, MexLaw

February 14th marks the annual day of love and romance, and in Playa del Carmen it is also a day of Bodas Colectivas (collective wedding), a mass wedding sponsored by the Solidaridad municipality on Valentine's Day. It will be a beautiful day for many happy couples, and although it is an exciting event in one's life, we have to play devil's advocate and suggest some legal considerations for married couples in Mexico. Permission to Marry a Mexican National Foreigners marrying Mexican nationals require the approval of the Mexican Migration office. The document is called "Permiso para contraer matrimonio con un nacional," and...

22 January

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International Legal Matters Through Letter Rogatory

Posted by Mexlaw

in Legal Services, MexLaw

Rogatory letters are a formal request from the court in one country, to be executed in the court of another. For instance, a court order may be obtained in Canada or the US and be carried out in Mexico. The letter rogatory may be used for civil or commercial matters. One example of the use of a letter rogatory would be a divorcing couple with shared property in Mexico; the wife lives in Canada, and the husband lives in Mexico on their Mexican property. In the case where the husband, in Mexico, is not cooperating with the split of assets...

22 January

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Keeping Up with Travel Alerts Regarding Travel to Mexico

Posted by Mexlaw

in Immigration, MexLaw

The recent headlines are buzzing with the US Department of State’s current travel advisory updates. While some journalists paint an accurate picture, other journalists publish sensationalized and misleading headlines about safety in Mexico. The truth is Mexico’s top vacation destinations are not subject to the US restriction; Cancun, the Mayan Riviera, Puerto Vallarta-Riviera Nayarit, Mexico City and Los Cabos are considered safe vacation hot spots for foreigners. Last August the US Department of State posted a travel alert which included Quintana Roo and the famous beach destinations Cancun, the Riviera Maya and Cozumel. However, on January 10th the travel alert was...

17 January

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Is Your Mexican Real Estate Agent Licensed to Sell Property?

Posted by Mexlaw

in MexLaw, Real Estate

If you are investing in property anywhere in the world, it is important to hire professionals to assist you with your purchase and ensure your investment is protected. In the past, anyone in Mexico could claim to be a real estate agent or rental agent, there were no licenses or regulations in place. In the state of Quintana Roo, one of the fastest growing real estate markets in Mexico, new real estate regulations have been imposed. The new license requirements were published on July 6, 2014. Although the law has been in effect for a few years now, it has...

09 January

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Important Considerations of the Construction Contract

Posted by Mexlaw

in Legal Services, MexLaw

Whether you are hiring a contractor for new construction or a renovation project in Mexico, it is imperative to have a contract with your contractor. Construction contracts are designed to establish the obligations between a builder and an owner of a property concerning the execution of work. Its primary purpose is to determine the price, terms, and the manner in which work must be carried out according to the conditions agreed in the contract. The construction contract between individuals is regulated by the Federal Civil Code and the commercial code. Before proceeding with a construction contract, it is important to consider some...

13 December

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The Condominium Regime in Mexico

Posted by Mexlaw

in Legal Services, MexLaw

What is the condominium regime and why is it important? The condominium regime is a document granted by a Notario Publico and recorded in the Public Property Registry, and until the developer has received the regime, the new buyers do not have legal title to the property. In some instances this process can take up to six months. Once the state and local municipalities approve the project, the regime is the legal approval issued by the government. The regime contains the rules and regulations of the development. It also includes the legal documents of the property including location, description and measurements of...

13 December

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You Have Purchased Property in Mexico, What’s Next?

Posted by Mexlaw

in Accounting, MexLaw

The most critical points that must be considered after purchasing a property in Mexico include: Getting Possession of the Original Title Deed Get that title deed in your hands; five to six months after both parties sign the title deed, your lawyer or the Notary must provide you with the original title deed. The original title deed includes the boleta de registro with the folio number; this document guarantees the title deed has been registered in the Public Registry of Properties. In their files the last information will be the transfer of rights in favor of the purchaser. Annual Payment on the...

08 December

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Real Estate Purchase and a Bank Trust Assignment of Rights

Posted by Mexlaw

in MexLaw, Real Estate

Foreigners buying property in the restricted zone of Mexico are required to purchase through a (fideicomiso) bank trust. In some cases, the buyer will take over an existing bank trust. This is known as an Assignment of Rights (Cesion de Derechos) and depending on the amount of time left on the existing trust, you may be advised as the buyer to take over the trust rather than pay set-up costs to create a new trust. In order to create a new trust, there will be added fees and the cost of extinguishing the current trust. Anytime a person accepts to carry...

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