Buying Real Estate In Coastal Areas

Law regulating ownership of real estate in Mèxico defines as a rstricted zone only for mexicans 30 miles of any coastline or 60 miles of eithers borders. However to allow foreigners to purchase vacation or retirement homes in these zones, 1n 1973 the Fideicomiso (Bank Trust) was established, so the bank may administate the property on behalf of the buyer/beneficiary, who enjoys the same rights ownership as a Mexican National.
A permit to establish a trust can be obtein for a period of 25 years and then renewed. In the sale of a property with an existing trust, the seller may assign the rights to the buyer. There is a cost for the permit and registration, and there is the annually bank trust administration fee.