- Does my property have clear title?
- Are there land ownership restrictions in Baja, Mexico?
- What is a “FIDEICOMISO”?
- Can I earn income from my home if A am not using it?
Does my property have clear title?
Yes, each lot has its own clear and separate title. Your name (or names if joint ownership) is on title, but must be held in a bank trust or corporation.
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Are there land ownership restrictions in Baja, Mexico?
Yes. Foreigners are restricted from owning real estate within 30 miles of the coast line. Since this includes most of Baja, a safe method of ownership was needed to allow foreigners to purchase and develop property. The department of foreign affairs in Mexico City now issues a “Fideicomiso” to assist in the purchasing of property by foreigners.
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What is a “FIDEICOMISO”?
A fideicomiso is a bank trust. The Mexican bank of your choice becomes the “trustee” of your title, with you as the beneficiary with sole rights to use, occupy, build on and possess your property. The initial term is 50 years, with ongoing 50 year renewals indefinitely. In the case of shared ownership, all owners will be registered equally on the fideicomiso.
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Can I earn income from my home if A am not using it?
Absolutely. You can rent, lend, or trade your casita with another owner whenever you wish. We also have a rental program to rent out vacant weeks – so you can use our service. You receive 75% of rental income generated during your owner weeks. If you choose to rent or lend your weeks independently, your account will be charged a fee to provide for cleaning and utilities, and caring for your guests needs. Rental income is a great way to pay management fees and vacation expenses!
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