Archive for the ‘Real estate’ Category

Books about retiring and living in Mexico

There have been several books written on the topic of living, investing, buying real estate and living in Mexico. A few of these are listed below with a summary of each for your convenience. This is not an endorsement of the books or topics but rather a guide to help you decide if the material is of use to you. We have not read or ordered the books but the summaries indicate that the books would be useful for foreigners living in Mexico. (more…)

Do I need a Mexican will?

For people that are going to be in Mexico part of the year or all of the year, those that are buying property or doing any business in Mexico, or those bringing a vehicle into the country, really anyone living in Mexico (including Mexicans), it is indispensable to have a will in Mexico. (more…)

CURP in Mexico (Clave Única de Registro de la Población)

The Population Registry Unique Code (Spanish: Clave Única de Registro de Población) or CURP is a unique identity code for both citizens and residents of Mexico. Each CURP code is a unique, alphanumeric 18-character string intended to prevent duplicate entries.

Typically you get one for the first time when you obtain your FM3. You need it to get your social security card, your driver’s license, getting your FM2 or citizenship (naturalization), for buying a vehicle or home, opening a bank account and for most other legal and tax business in Mexico. (more…)

Closing and title services by IdeaCOM

Corporate, Closing and Title

  • Trust preparation
  • New corporations to acquire properties
  • Pre-sale contracts
  • Buy-sell contracts
  • Fusion and subdivision of properties
  • Notary service oversight (more…)

Practical Information about Real Estate in Mexico

In the 1917 United Mexican States Constitution, in their 27th article points out that ownership of the lands and waters within the boundaries of the national territory is vested originally in the Nation, which has had, and has, the right to transmit title thereof to private persons, thereby constituting private property. (more…)

Legalizing of Documents for Property Transfers

Real Estate & Finance

The Apostille, making a document legal for use in Mexico

By Linda Neil

In Mexico, the ONLY authority permitted to draft a deed transferring real property or an interest in real property (such as the fideicomiso) is the Mexican Notary Public. This person is different from a notary public in the United States where a simple exam, a bond, and a rubber stamp can make a notary public out of most people. Nor is it similar to Canada’s Notary Public who must meet a few more stringent requirements to qualify. Not so many, however as the Mexican Notary. (more…)

Special Considerations for Closing and Conveyance

Important notes:

  • Typically ALL closing costs are paid by the buyer, each operation differs in terms of the costs, but it can be a considerable amount and should always be investigated before closing
  • ALL paperwork (the deed, lien search, etc.) should be reviewed by a notary and a lawyer before laying down any money (more…)

Debunking Myths

Owning Real Estate in Mexico

BUYING MEXICAN REAL ESTATE

Mexico has thousands of miles of pristine coastline, wonderful colonial cities which boast architectural wonders stretching back many hundreds of years, and diverse expatriate communities of Americans and Canadians scattered throughout the country. The Mexican government is encouraging the expansion of tourism and investment in Mexico. Anyone can acquire real estate in Mexico if some simple rules are understood. (more…)

Closing Cost Information for Buyers and Sellers

Closing Costs for Buyer and Seller

Closing costs for the buyer are different from what many foreigner buyers first expect in Mexico. Because the majority of the Bay of Banderas is in the restricted zone, a foreigner buyer must own his residence in a trust. (more…)

Details on Closing Costs

The WHAT, WHY and HOW of closing costs…..

Estimated Closing Costs is a list of the standard charges involved in the transfer of the rights in the property purchased in Mexico. The total cost can vary depending upon the circumstances. It is generally prudent, however, for the buyer to set aside 3% to 14% of his budget to pay these costs. (more…)

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