Intestate property refers to real estate lacking a legal owner, requiring a succession process to establish rightful ownership before any claims or sales can be made. This procedure aims to identify the new property owner and grant them the authority to manage the property as they see fit....
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In Mexico, the term "postnup" refers to a postnuptial agreement or marital agreement entered into after marriage to establish terms and conditions related to assets and other legal aspects in the event of divorce or separation. Although postnups are not specifically regulated in Mexican legislation, it is possible to enter into and recognize them in the country. Here are some general requirements and considerations for postnups in Mexico: Voluntary agreement: Both parties must voluntarily agree to enter into a postnup and be in agreement with its terms and conditions....
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Prenups: A prenuptial agreement is a contract written prior to a marriage that defines terms of divorce to foresee a positive outcome for both spouses in the event of a dissolution. A postnuptial agreement is a simple prenuptial but written after a marriage is performed. In Mexico, it is possible to recognize and enforce foreign prenuptial agreements, as long as they comply with certain requirements. Here is a summary of the types and requirements for foreign prenuptial agreements in Mexico: They are marital agreements executed before a Notary public or the competent official of the Civil Registry in the country of origin. These civil...
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According to the National Institute of Statistics and Geography (INEGI), abandoned or empty homes in Mexico total 6,150,000, which has increased over the last decade. The reason for the increase varies, including the rising number of vacation or second homes purchased by Mexicans and foreign nationals who don’t use the properties often or are waiting to develop the properties. Abandoning or leaving a home empty can leave the property at risk of property encroachment....
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Each year, Mexlaw receives substantial inquiries from condominium owners regarding problems arising from conflicts with condominium administrators. Many of the challenges experienced by condominium buyers could have been avoided if they were armed with more information regarding Condominium laws in Mexico....
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As though you needed more reasons to buy Mexican real estate. Most buyers consider a change of lifestyle or warm weather, white sandy beaches and turquoise waters, and friendly, hospitable locals as the principal reasons to buy Mexican real estate. Here’s another one: substantial increase in the resale value of property....
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Financing for foreigners purchasing real estate in Mexico is extremely limited. Mexican Banks do not lend money to foreigners, whether they are permanent or temporary residents, unless they have a minimum of two years of banking history with them....
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There appears to be some confusion as to what needs to be reported to the IRS by US citizens owning property in Mexico. Some US based accountants and tax preparers provide contradictory information and instructions to their clients. ...
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Congratulations! You have decided to purchase a new property in Mexico, and you have seen quite a few advertisements regarding presale properties. ...
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North Americans are familiar with the concept of Escrow Accounts. The buyer deposits the funds with an Escrow Agent who will disburse them only according to the instructions agreed upon between the buyer and the seller. ...
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