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If Amendment is Passed, Foreigners Will Be Able to Buy Beachfront Properties Without Fideicomiso in

Date Published: 4/30/2013

In a move that is raising eyebrows, and ruffling feathers, Mexican newspapers reported recently that three of Mexico's federal representatives have proposed a bill that would allow American, Canadian, and other non-Mexican citizens to buy and obtain full ownership of ocean front properties. A bill that is specifically designed to make home buying much easier for non-Mexican foreigners. A proposal limited to purchasing homes and not commercial or agricultural business property. If passed into law, foreigners buying a home in Mexico could do so without obtaining it via the Bank Trust (Fideicomiso in Spanish) approach; which has been the way Realtors have legally assisted, and assured...

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