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Get excited and start Living the Dream
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Invest in your future - Invest in Rocky Point.
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Part of the continued solid growth of Rocky Point’s real estate market is the result of reforms instituted by the Mexican government at the federal level over thirty years ago that simplified real estate ownership by non-Mexicans through the use of bank trusts. This mechanism was specifically designed to facilitate ownership of Mexican real estate by non-Mexicans, and to protect non-Mexican owner’s rights. This clarification and simplification of the legal aspects of foreign ownership of Mexican properties convinced discriminating homeowner-investors of what has long been the case: ownership of Mexican properties -- especially in Rocky Point -- is both simple and safe. These bank trusts -- which now enable secure ownership of coastal properties throughout Mexico by several hundred thousand American and Canadian families.
Mexican Bank Trusts are similar to a trust in the United States where the trustee is a bank. The beneficiary can be any individual, partnership, limited liability company or corporation, Mexican or non-Mexican. Mexican Bank Trusts are really not much different than a mortgage in the United States, Canada, or Europe -- where only a small percentage of homeowners have clear title to their homes -- and where the lender, usually a bank, remains the title holder of a home.
Under this arrangement, the bank simply holds the deed to the property for you or your assignees. Your property is not part of the bank's assets and cannot be subject to bankruptcy, lien, or attached to bank obligations. You have all ownership rights to the property. The bank is obligated to do with the property everything you instruct them to do. Contrary to an outdated misconception, Mexican real estate bank trusts are not leases, and they confer on the trust-holder the same rights that "ownership" does in the United States, Canada, or Europe.
The term of the trust is 50 years, renewable for additional 50 year period. Trusts are renewable at any time by simple application. It was never the intent that trust-held properties pass back to the government at the end of the trust period, which has been a common misconception .
This is a great time to invest in Rocky Point -- and in your family's financial future. , “Don't wait to buy real estate. Buy real estate and wait.
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