The Ejido, a Mexican Concept Misunderstood by Foreigners

Posted by Mexlaw

Plots of land located near the beach, specifically in Playa del Carmen, Cancún, Puerto Vallarta, Oaxaca, and the Riviera Nayarit are most likely part of an Ejido. Foreigners frequently ask, “What is the significance of an Ejido property and why am I prohibited from buying land there?” An Ejido or ‘propiedad comunal’ is an area of communal land mainly used for agriculture, on which community members farm designated plots and collectively maintain communal holdings. While this was the original intention and was once an accurate description of Ejido activity, today many Ejido properties are abandoned, with no farming activity taking place. Why...

19 July

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Get Here Sooner by Investing in a Mexican B&B

Posted by Mexlaw

in Immigration, MexLaw, Real Estate

How do you escape the rat race, and give up working long days and dreaded commutes? Most people work hard all week and struggle to make ends meet, waiting all year for that one vacation in Mexico to get away and unwind. What if that vacation in Mexico was actually your life? Foreigners who are not financially ready to retire but are ready to enjoy life are investing in a rental property or home big enough to operate a B&B. Get a jump start on your retirement life while the rental income supplements your income. Expats living in Mexico are enjoying...

21 June

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Tips on Securing Your Vacation Home in Mexico

Posted by Mexlaw

in Insurance, MexLaw

So you found your dream home in Mexico, now it is time to shop for a homeowners insurance policy to protect your investment. Unexpected loss happens, whether it is loss through robbery, vandalism, fire, flooding or a natural disaster. Vacation homes are at higher risk of loss as some foreigner property owners only stay six months and leave the home vacant for the remainder of the year. A significant portion of real estate purchased by foreigners in Mexico is condominiums. In this case, the condo association will have a blanket policy to insure the structure, common areas, fixtures, and amenities....

09 June

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Protecting a Vacation Home in Mexico

Posted by Mexlaw

in Insurance

Tips on Securing Your Vacation Home in Mexico So you found your dream home in Mexico, now it is time to shop for a homeowners insurance policy to protect your investment. Unexpected loss happens, whether it is loss through robbery, vandalism, fire, flooding or a natural disaster. Vacation homes are at higher risk of loss as some foreigner property owners only stay six months and leave the home vacant for the remainder of the year. A significant portion of real estate purchased by foreigners in Mexico are condominiums, in this case, the condo association will have a blanket policy to insure...

07 June

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

Posted by Mexlaw

in MexLaw

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...