Puerto Vallarta Lifestyle

Can I own property near or in front of the ocean?

 


If you’ve done some research, you’ve learned that you can legally own land in Mexico as a non-national, unless it’s within 50 km (31 miles) from the shoreline.  Anyone who’s been to many Mexican destinations knows that some of the best property is within that 50 km (31-mile) radius, however.  So, what do you want to do if you want to own property near, or in front of, the ocean?  Take a look.

 

How to own property near or in front of the ocean

            If you want to own property where you are practically right on the beach, it absolutely is possible.  You would need to do it through a bank trust from a Mexican bank, or have a company based in Mexico be the actual name of the deed, however.  If you want to own property with the deed in your own name, it will need to be outside of this restricted zone.

            In 1973 and 1993, legislation was passed that specifically made this possible and this is still in place today so that foreigners can easily hold property in Mexico within those otherwise restricted areas.

 

Is it safe to own property near or in front of the ocean?

            If you’re familiar only with the concept of shell companies and laundering money, then you’d understandably be concerned about this idea of it being held in a trust instead of direct your name!  However, that’s just “good TV’.

            In Mexico, it’s extremely common -- and therefore safe -- to have a trust or a company hold the property deed title within this restricted area along the coastline.  You can find many, many people who have done it without concerns or frustrations, and it’s so common that many people don’t even think twice about it!

            You’ll find a lot of banks will offer it easily, too, since it’s so common and done specifically to make sure that foreigners have access to this popular (and pricey) property.

 

What does it mean to own property through a trust?

            There aren’t many differences when it comes to this particular part of owning property in Mexico, specifically because it’s designed to have your best interests in mind.  One of the main differences is that you can have more than one owner of the proepty.  You can share it between 2 people and then each person can have different beneficiaries who will take over the property if something were to happen to person #1, then person #2 would have the sole ownership.  This s great for those that want to split ownership between two people that may or may not be married, business partners, good friends, etc.  It isn’t complicated with red tape.

            It can be then given to heirs that are stipulated in the wills of both owners, too.  The beneficiaries can be related or they may not be related.  It’s all about offering as much control as possible with as little legal red tape as possible.

 

Ownership is possible in restricted areas

            Essentially, you can have ownership of waterfront property, it’ll just be done through the use of a trust that is located in Mexico and verified by banks and government industries.  Iy is safe, legal, and exceptionally common!

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