Forums > General > Living, Working, Retiring

johanson

Dec 29, 2009, 8:42 PM

Post #1 of 10 (7007 views)

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"owning" property in the restricted zones

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I understand that you can not own property too close to the US and possibly any border either. Maybe someone could correct me if I am wrong.

(This post was edited by Rolly on Dec 30, 2009, 9:10 AM)

Rolly

Dec 29, 2009, 8:49 PM

Post #2 of 10 (7005 views)

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Re: [johanson] Length of time LIVING in Mexico

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Correct. 50 Km from a land border, 100 Km for the ocean.

Rolly Pirate

johanson

Dec 29, 2009, 9:06 PM

Post #3 of 10 (6998 views)

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Re: [Rolly] Length of time LIVING in Mexico

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Thanks Rolly.

Peter

Dec 30, 2009, 6:34 AM

Post #4 of 10 (6961 views)

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Re: [Rolly] Length of time LIVING in Mexico

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In Reply To

Correct. 50 Km from a land border, 100 Km for the ocean.

Is this corect? I always heard it the other way around, i.e., 50km from the coast, 100 km from border.

No matter, IMHO the best places to live here are far from either, though it is still possible to own within those boundaries by arrangement through a bank or other institution.

Rolly

Dec 30, 2009, 6:55 AM

Post #5 of 10 (6959 views)

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Re: [Peter] Length of time LIVING in Mexico

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You're right Peter. I reversed the numbers. I need to start going to bed earlier.

Rolly Pirate

bournemouth

Dec 30, 2009, 7:11 AM

Post #6 of 10 (6952 views)

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Re: [johanson] Length of time LIVING in Mexico

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But you can hold it through a Fideicomiso.

donemry

Dec 30, 2009, 7:16 AM

Post #7 of 10 (6950 views)

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Re: [bournemouth] Length of time LIVING in Mexico

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But you can hold it through a Fideicomiso.

which for all practical purposes, is the same as ownership.

gpkgto

Dec 30, 2009, 9:14 AM

Post #8 of 10 (6917 views)

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Re: [donemry] Length of time LIVING in Mexico

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The fideicomiso is not free--I used to pay US$500.00 per year to the bank for all their "work" in being the trustee. Also, you have to renew it/pay the fee on time every year. There has been talk of eliminating the fideicomiso requirement in order to encourage more baby boomers to buy beach property in Mexico.

bournemouth

Dec 30, 2009, 10:19 AM

Post #9 of 10 (6891 views)

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Re: [gpkisner] Length of time LIVING in Mexico

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But I'm not holding my breath on that one - there has been talk for a number of years now and nothing has happened so far - one can always continue to hope. I once commented to a trust officer that I understood they were to be done away with and his appalled response was "what would I do then?" - which I understood on a personal level, but not as one then having property in a fidiecomiso.

gpkgto

Dec 30, 2009, 12:15 PM

Post #10 of 10 (6860 views)

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Re: [bournemouth] Length of time LIVING in Mexico

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You are probably right--the banking lobby is probably as strong in Mexico as in the US. I'm glad I got my citizenship so when I win the loteria I can buy another condo on the beach with using a trust!