Buying beachfront property in Mexico for either vacation or retirement is a process that requires a fair amount of research and planning. Deciding on the perfect beachfront property is difficult as Mexico is littered with scads of beautiful beaches, any one of which would provide the perfect location for a dream home. A local professional Mexico real estate agent can provide you with a list of oceanfront property, vacation homes, condos and investment properties available for sale or rent.
The coast from Majahual to Xcalak is lined with miles and miles of powdery white sand. Majahual and Xcalak offer a relaxing alternative for vacationers and retirees who just want to get away from it all. Rustic bungalows and small hotels sprinkle the shoreline.
Majahual is located on the Caribbean Coast of Mexico just north of Belize and south of the Sian Kan Biosphere. Unspoiled rain forest, lagoons and ocean beaches abound in Majahual. The tiny fishing village is located on Mexico's Southern Caribbean in the southern most part of the state of Quintana Roo. Majahual is at the geographic center of the coast.
The crystal clear waters of Majahual are always warm. Divers can discover countless beautiful coral formations and sponges, and enjoy swimming among sea turtles, dolphins, sea horses, manatees, and thousands of sport and reef fish.
Majahual is the Caribbean's newest cruise ship destination and home to a new cruise ship dock and mall. To meet the increased demand, a new power station and water plant were recently completed and new roads and electrical lines are now being installed on the Costa Maya, both north and south of Majahual.
Residents and visitors enjoy delicious fresh seafood including lobster, conch and fresh fish. Life in Majahual is very relaxed and the pace is much slower than many foreign visitors are used to, but once you become accustomed to it, you won't want to return to anything hectic. In fact, you may not want to return at all. A local Mexico realtor can help you find your dream home in paradise.
Vacationers, expatriates and foreign investors from all across the world have taken advantage of the region's natural beauty, low cost of labor and resources, and significant investment incentives such as competitive access to international markets, a qualified and cost-effective labor force, and one of the highest economic growth rates in all of Latin America. Hurry before Mexico's best kept secret is out.
Your beachfront property in Mexico is within your reach. Check out the listings of Playa del Carmen Real Estate, Puerto Vallarta Property and Cancun Real Estate for insight into this booming market.
Author: Tom Budniak
Does the Mexican government own my land if I purchase land in Mexico? Due to recent trade agreements made between the United States, Canada, and Mexico, called the North American Free Trade Agreement (NAFTA), and bank trusts, called Fideicomiso, foreigners are allowed to purchase land in Mexico. American Title companies are also involved in the purchasing process, allowing for secure transactions.
What is the North American Free Trade Agreement? In 1994, North American Free Trade Agreement (NAFTA) between the United, States, Canada, and Mexico was formed as the world's largest free trade area, allowing for purchasing land safely in Mexico. The agreement allows for economic growth and rising standards of living in these three countries, while establishing a strong foundation for future growth and setting an example of the benefits of trade liberalization.
Today, nearly 1.5 million Americans own property in Mexico. As a foreigner, the buyer can obtain all the rights of ownership by setting up a bank trust, similar to a US family trust, known as a Fideicomiso.
What is a Fideicomiso? A Fideicomiso makes a buyer the beneficiary of the purchased property, allowing the buyer to use, lease, sell, will, improve or encumber the purchased property. The Trust does not give direct ownership to the foreign beneficiary. Instead, it establishes the legal basis by which the bank holds the legal title to the property in order to act on the foreigner's behalf.
The Foreign Investment Law, which was amended in 1993, allows the trust to be established for a term of 50 years and is renewable anytime during its existence. The beneficiary can instruct the bank to sell or lease the property at any time. The bank (trustee) holds the trust deed for the person who purchases the property (beneficiary). The property is not part of the bank's assets and cannot be liened or attached for any other obligations.
Why was a trust system established? The Mexican government established the trust system as a protection for foreigners interested in owning property in Mexico. By making ownership pass through the trust process, the bank is required to check ownership, insurance, and liens against the property. There would be an automatic review of the transaction, thus ensuring valid ownership and no outstanding indebtedness of the property
When is a bank trust issued? Bank trusts are established by a Mexican Notario (Notary), following the receipt of a permit by the Minister of Foreign Affairs. This procedure is routine due to the large number of foreign property owners. The forms are standardized and the entire process is usually completed by the notary as part of the closing procedure
How does First American Title Company ensure property purchased in Mexico? First American Title Company works to ensure that any claims will be handled in the U.S. without the buyer having to go through the Mexican court system. That means that the title agency will stand by the buyer in response to a challenge to the buyer's title in Mexico.
First American was the first U.S. Company to issue title insurance policies on Mexican land and it is the most used agency. Its agents are experts in Mexican law, property ownership and transfer system. First American Title Company has been facilitating complex commercial, industrial and residential real estate transactions throughout the country for over twenty -five years. The agency is directly involved with property purchasing for The Pointe de las Conchas.
Both Tom Budniak & are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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