Posts Tagged ‘notario’

Do I need a Mexican living will or medical proxy?

See our sections about the will and testament for details on that matter. Here we will discuss the living will. We use the term living will but the document is sometimes also known as a medical proxy and also goes by other terms. Do you need one while living in Mexico? In a word, definitely. (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…)

Forming a corporation in Mexico

We can assist you in the legal and government procedures to form a corporation in Mexico. Below is a guide to what information is required and how the procedures work as well as approximate costs and processing times. (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…)

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…)

Bank Trust and Notary Services

Foreign ownership of Mexican property is now secure. In recent years, the laws regarding property ownership in Mexico have changed dramatically for non-Mexican citizens. The advent of NAFTA, improved world-wide technology and sweeping changes in Mexican politics have made purchasing property in Mexico a much easier and more secure process, especially for residents of Canada and the United States. (more…)

Real Property Purchases

Real property taxation in Mexico
Mexico Taxes when purchasing a property

U.S. and Canadian buyers of real estate in Baja California are surprised at how high “closing costs in Mexico” are at the moment of property title transfer. The seller pays almost no taxes for the sale if it is their permanent home and can demonstrate that with utility bills in their name and identification listing the property as their domicile. If it is income property or an unimproved lot, the taxes to the seller are a 26 percent tax (impuestos sobre la renta) of the sales price or property appraisal, whichever is highest. And the buyer pays 4.3% of the sales price. Appraisals are typically one half the sales prices. (more…)

Trust vs. Corporation

Buying Real Estate in Mexico

Friday, 14 March 2008

Buying Real Estate in Mexico:

Fideicomiso or Mexican Corporation?

(more…)

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