I am asked this question several times a month when speaking with others about living in Mexico.
And the answer is YES!! You may buy real estate in Mexico. With proper advice, it is safe and easy. Non-Mexicans who buy real estate in Mexico do have the full protection of the Mexican law.
In the interior of Mexico, where Mexico City, Cuernavaca, Guadalajara or Lake Chapala are located, one may have direct ownership of property and your own name on the title. One may even name beneficiaries for the property.
In the “Restricted Zone”, which includes land on the coast and close to the borders, Non-Mexicans may still buy property. You must first set up a bank trust (or Fideicomiso) in order to purchase the property. It is not difficult to do so. All real estate transactions involving a trust are governed by federal law. A trust or Fideicomiso is a contract or agreement under which one or more persons conveys property, amounts of money or rights, present or future, of his property to another person, persons or a legal entity, so that it manages or invests assets for their own benefit or the benefit of a third party, called a trustee.It is extremely important to use the services of a Mexican Notary Public. In Mexico, every legal document must be made before a notary public. The Notary Public is a public official appointed by the State Governor. A Notary Public, in Mexico, has a higher standing than an attorney or lawyer. A Notary Public writes up the trust and then is legally responsible for that document, therefore assuring that everything is properly written and filed.
With proper planning and advice, you too can be a happy property owner in Mexico. I will be a happy owner of property in Mexico in the near future too.