Things to know about buying a home in Mexico

Buying in Mexico

The buyer of the Mexican real estate is the beneficiary of the fideicomiso. The buyer can be a person, a husband and wife or family, any group of people, or a stateside limited liability company, or LLC  This buyer/beneficiary will receive all the rights that go with the property.

The seller is the grantor. They sell the real estate involved, and relinquish all the rights that go along with the property

vey only have naked title, meaning title without benefits.

What is a FIDEICOMISO

A FIDEICOMISO is the most common option chosen by the foreigners who attempt to buy property in the area. A Fedeicomiso is unique because it doesn’t have an exact equivalent in United States or Canada, so an exact translation is impossible. The closest we can get would be a “real estate trust.”There are many benefits to a Fideicomiso. One of them is that it works like a will

Form a Corporation

CORPORATIONS are simpler. A Mexican corporation can be formed in two weeks with at least two partners. (They can both be foreigners; no Mexican citizen is needed, so don’t fall for that story.)