04 December

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Rent to Own – A Transaction Agreement

Posted by Mexlaw

If you are selling your property in Mexico, you may get an excellent offer from a buyer looking for a rent to own situation. The potential buyer may want to live on the property while making substantial payments. How do you protect your investment and not waste time and money if the buyer defaults? You will need to take extra precautions to protect your interests. We recommend you hire a Mexican lawyer to draw up or at least review any legal agreement you make to ensure you and your investments are fully protected. What type of agreement will protect the potential buyer...

20 November

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Mexican Real Estate – Benefits of the Fideicomiso

Posted by Mexlaw

in Legal Services, MexLaw, Real Estate

Obviously, it would be easier and less expensive if you could hold a direct title to your Mexican property. However, the Mexican Constitution states foreigners can not own property within the restricted zone; the fideicomiso is the safest workaround for purchasing this type of property. The primary purpose of a fideicomiso is to satisfy the Mexican Constitution by bestowing the legal title of the property in the name of the trustee. The trustee’s responsibility is to hold and transfer title deed under the direction of the beneficiary (buyer). The Benefits of a Fideicomiso It allows foreigners to purchase real estate within the...

11 November

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Making Changes to an Existing Fideicomiso

Posted by Mexlaw

in Legal Services, MexLaw

Most foreigns who have purchased property in Mexico have the property held in trust (fideicomiso). The exceptions for requiring a fideicomiso are if the property is outside of the restricted zone or the foreigner has obtained Mexican citizenship. The restricted zone is defined as land located 100 kilometers from the borders and 50 kilometers from the coast of Mexico. Although the bank is the owner of the property on paper, the property is not a bank asset, and the beneficiary has all rights over the property, including the rights to sell, rent, remodel, and bequeath to their heirs. Over time the property...

01 November

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Temporary Residency in Mexico – What is Your Expiration Date?

Posted by Mexlaw

in Immigration, MexLaw

The first Temporary Resident Visa is typically granted for one year; once your first visa is up for renewal, you may renew for 1,2, or 3 years. At the end of the 3rd year, you will apply for permanent residence, which does not expire. As a temporary resident holder, it is imperative to be aware of your expiry date. Allowing a resident visa to expire will void your status in Mexico, and you will need to initiate the process from scratch at a Mexican Consulate abroad. When can I begin the renewal process of my temporary visa? Within 30 days before the visa’s...

29 October

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Mistakes That Will Cost You Your Residency in Mexico

Posted by Mexlaw

in Immigration, MexLaw

We receive many inquiries from foreigners who have accidentally canceled their residency visas because they are unaware or did not follow the proper procedure when leaving and entering Mexico. These mistakes will result in having to initiate the residency process again and possibly explaining to INM why you attempted to mislead them. It is essential to understand the procedure for entering and exiting Mexico when you are in the middle of a residency procedure. As well, you must follow the proper steps if you hold a residency visa. If you must leave Mexico before your residency process is complete, you need to...

14 October

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Retiring in Mexico – Maintain Your Health by Volunteering

Posted by Mexlaw

in Immigration, MexLaw

Moving to Mexico means a lower cost of living and the opportunity to retire sooner, and if you retire early, you probably are not ready for a rocking chair. There are plenty of activities to fill your days in Mexico, but if you are looking to give back and meet amazing people, volunteering may be what you are looking for. Whether you bring experience from your previous employment or you are interested in learning new skills, your time is valuable, and there are many opportunities for mature adults to make a difference in the community. Single retirees that relocate will meet like-minded...

27 September

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Relocating to Mexico – Tourist Destination or Residential Area?

Posted by Mexlaw

in Immigration, MexLaw

When traveling in Mexico, most foreigners visit and fall all in love with the tourist side of town, but if you are relocating to Mexico would you choose to live in the tourist area or a residential area? As a new resident in Mexico you may want to live in a tourist town, get out an about, meet new people, enjoy the hustle-bustle of the tourist streets, but once you settle in you may yearn for a quieter place to call home. Everyone's ideal home is different; some prefer a secluded house in the jungle and some like the city life,...

23 September

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Single Parents and the Importance of Estate Planning

Posted by Mexlaw

in Insurance, MexLaw

One of the most important aspects of estate planning is protecting your children in the event of an untimely death. Estate planning is particularly important for single parents; single parents have a lot of added responsibilities and higher stakes compared to a dual-parent family. As a single parent, it is even more imperative to prepare a will and select a guardian. In a two-parent home, if one parent dies, the children are more likely to remain in their home with the surviving parent but what happens in a single-parent family? It is difficult to think about this situation, but it is...

09 September

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Important Facts About Wills and Your Mexican Estate

Posted by Mexlaw

in Mexican Will, MexLaw

September is will month in Mexico, and the Mexican government offers incentives to property owners to encourage them to prepare a will. Foreigners with investments in Mexico may have a will prepared in Canada or the US, however getting a foreign instrument recognized in Mexico can entail a lengthy and expensive process. The foreign will must be translated into Spanish by an official court-approved translator. It must be "Apostilled" in the country where it was prepared. Canadian wills are not required to be apostilled but will need to be translated into Spanish by a court-approved translator and submitted to the...

09 September

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Wills and Estates in Mexico Q & A

Posted by Mexlaw

in Mexican Will, MexLaw

WHAT IS WILL MONTH IN MEXICO?

September is Will month in Mexico. It’s a reminder to prepare for the inevitable and leave your affairs in order, so that family members inherit property and not complications.

MexLaw attorneys can assist you in preparing your Mexican Will and answer any questions you may have about your estate.

During September and October, we are offering a discounted price of only $250 USD (regular price $450).

Take advantage of this promotion before October 31, 2019.

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