• Can Americans own real estate in Mexico?
In most of Mexico, Americans or any other foreigners can own land outright. The Fideicomiso (Bank Trust System) was developed in 1972 for the specific purpose of allowing foreigners to buy residential property .
• How do I own residential property through a fideicomiso (bank trust)?
The Fideicomiso is designed specifically to permit non-nationals to own residential property. It provides, under the Mexican law, the same legal rights of ownership as a Mexican. The trust is set up for 50-year periods and is renewable and irrevocable. It can be bought, sold, inherited & willed.
• Does the bank own my trust?
No. The bank trust operates much the same way as a U.S. bank trust does. The bank only holds the trust for your ownership and protection under Mexican law. It does not own the trust. The bank serves as the owner's "employee". It operates solely under the instructions of the owner of the trust. The trust can be bought, sold, inherited & willed. The Fideicomiso acts much the same as a Deed of Trust does in the U.S., providing equity ownership.
• Isn't a bank trust the same as a lease?
No. Under a bank trust, the beneficiary (buyer/owner) has all the rights of ownership, the right to use, borrow money on, make improvements on, and transfer. A lease grants only the right to use. If the tenant makes improvements, such as building a house on the property, that house belongs to the landlord, nor can the tenant sell the property or borrow money in it.
• Can the Mexican government take away foreigner’s property at any time?
No. The Mexican government formed the Fideicomiso for foreigners through constitutional law and provides them, under the Mexican Constitution, the same legal rights of ownership as a Mexican would have. Secondly, the N.A.F.T.A. Treaty (1994) between Canada, Mexico and U.S. further put in place many requirements, including the provision of security from any of these governments’ arbitrarily seizing land from its rightful owner.
• Why San Felipe?
San Felipe has grown to be a star on the Mexican Government’s tourism map because of its geographical location, natural beauty, its warm and friendly people, and the infrastructure that has now . Plans are under way to make San Felipe one of the top tourist destinations in the country.