Purchasing real estate in Mexico has change dramatically over the past 10 years for U.S. and other non-Mexican buyers. In 1994, Mexico's federal goverment liberalized ownership provisions on all property within the "restricted zone," a constitutionally protected area along all of Mexico's coastlines, its borders with Guatemala, Belize and the United States, and of the entire Baja peninsula.
These new foreign investment laws allow greater legal freedom and ownership rights for prospective purchasers foreign to Mexico seeking vacation, residential, commercial or industrial properties.
While Mexico is a beautiful and charming country, its real estate laws, rules and customs are much different from those in the United States. Buyers looking for a place to live, vacation or retire in Mexico should familiarize themselves with the basic requirements for investing in Mexican property.
Gaining this knowledge will help the process flow more easily and give you peace of mind about your purchase decision.
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Thursday, July 22, 2010
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