The purchaser pays the closing costs. The purchaser is responsible for paying the Notary`s fees and expenses as well as the transfer (purchase tax), escrow fee and all closing costs related to the sale. The Seller is responsible for paying the Mexican Capital gains tax (Impuesto Sobre la Renta), if it applies, as well as…
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Yes. You will be taking over the existing trust that is currently in place. It would be wise to check how many years are remaining in the existing trust, since it may be better to establish a new 50-year Bank trust instead. The initial fee varies from bank to bank; therefore it is a good…
Read MoreOn acquiring a property, it is placed in trust with the bank as Trustee (Fiduciario), who, for all technical purposes, is the legal titleholder. The Trustee and purchasers’ responsibilities are clearly specified within the Bank Trust, which forms part of the title. The Trustee is responsible for holding the property in trust for the purchaser…
Read MoreIndividuals or foreign companies, in their own right, as well as foreigners that own stock in a Mexican corporation, can all acquire properties through different methods depending on their location. In the interior of Mexico, through direct title and through a bank trust in the coastal areas, including beachfront properties.
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