About Mexico

Because of cultural and political differences, Americans may not understand Mexican approaches to real estate. Traditions, such as viewing land as a legacy and the of passing on “family property” to their heirs, are hard to comprehend for an American who is used to viewing real estate as more of a commodity. Unlike commercial building in the U.S., commercial building in Mexico does not necessarily seek quick returns.

In light of this, a popular misconception about Mexican real estate is that foreigners cannot securely own land in the country. National banks will hold properties along the Mexico coast and the U.S. border in a secure trust for American buyers for a renewable period of 50 years. A regular fee simple deed is all that is required for American buyers to obtain property inland. The fideicomisos, bank trusts which make residential property available to American buyers for years, have been misunderstood. The Mexican government does not hold an interest and cannot seize the property.

© 2008 Remington Financial Group, Inc