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 worlds 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...
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