Posts Tagged ‘notary public’

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…)

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…)

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…)

Benefits for Realtors and Developers – Title Insurance

  • Presence of Stewart services provides security, transparency and eases transaction worries for all parties
  • Reduces administrative burden for Realtor or Developer
  • Establishes standardized closing process
  • Escrow reduces the liabilities of handling client’s funds and ensures that commissions will be paid (more…)

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