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