5 Points to Consider Before Investing in a Mexican Development

Posted by Mexlaw

Purchasing a condominium in Mexico is an exciting venture, and there are plenty of new buildings on the market. Before handing over your money consider these 5 points and as always we remind our readers to hire a lawyer licensed in Mexico to review the sales agreement and carry out due diligence on the property. Can you trust the developer? What is the business model and are their other projects successful? Check out the developer's reputation and experience before you invest. Does the property have a business model that guarantees long-term appreciation? Who is the administrator and what is their...

02 April

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Mexico’s Federal Zone Concession and Beach Use

Posted by Mexlaw

in Legal Services, MexLaw, Real Estate

The Federal Maritime Terrestrial Zone is the strip of twenty meters wide of the mainland, walkable and contiguous to the beach. The Federal Zone comprises Federal Maritime Terrestrial Zone (ZOFEMAT), and Reclaimed Land (terrenos ganados al mar), land gained from the sea. Both Zofemat and Reclaimed Land are part of the Federal Zone belonging to the Mexican nation and administered through SEMARNAT (Secretaria del Medio Ambiente y Recursos Naturales). The Federal Zone not only pertains to beaches but also borders of rivers, lakes, highways, and lagoons. Buying beachfront property does not mean you own the beach nor can you restrict people from swimming or...

26 March

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Quick Facts About Investing in Mexican Real Estate Through an IRA

Posted by Mexlaw

in MexLaw, Real Estate

Did you know you can increase returns on your pension savings by purchasing Mexican real estate through a self-directed IRA? The majority of us invest our pension automatically and do not pay attention to the rate of return that the plan is generating. With this alternative investment, you can take control of your retirement. U.S. citizens can increase returns on their investments by making the right choices and reduce fees and administrative costs payable to brokers and advisors. The IRS allows foreign real estate as an alternative investment; provided you follow the rules set out by the IRS, it is essential...

10 January

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Helping Homeowners Preserve the Architectural Heritage in Merida

Posted by Mexlaw

in MexLaw, Real Estate

The city of Merida implemented an incentive program to promote conservation of the buildings within the historic center. According to the government website the project consists of 3,906 properties with an area of 8,795 km² known as the Centro Histórico. The Facade Rescue Program began with a goal to recover and conserve heritage buildings, return them to their original image, improve urban architecture quality in the area, promote the historical value and encourage owner participation. The municipality takes care of the necessary permits, provides skilled labor and supervision, and the owner of the home is responsible for the materials and...

19 November

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Points to Consider When Purchasing Land in Mexico

Posted by Mexlaw

in MexLaw, Real Estate

Obtain an Active Cadastral (Property Survey) Ensure the measurements of the property match the those of the cadastral and confirm the property the seller is selling is the same as the legal deed. Infrastructure and Utilities Is the infrastructure in place for new construction? Are utilities and water available? Are there extra fees involved for connecting to water and sewer? Is there internet and tv services available in the area? These services may or may not be relevant to you. Zoning and Permits Research the zoning of the property. Depending on what you plan to build on the property you need to be...