The Fidecomiso
In 1971, President Luis Echeverria Alvarez wrote a presidential decree allowing Mexican banks to hold property in trust for foreigners. The Fideicomiso is the name for the Beneficial Trust, and you can consider it as ironclad as the deed to your home in the United States or Canada. Today, U.S. mortgage companies offer long term financing using your Mexico property as collateral. United States title insurance is available on all eligible properties from Fidelity Global Solution, First American Title and Stewart Guarantee Title.
As purchaser of a property, you have full ownership rights. You may use and enjoy, build, rent will or sell the beneficial rights in the trust anytime, conforming only the general laws of the country established for all persons. The term of the trust is 50 years, and it's automatically renewable by law. In other words, title to the property may rest in one beneficiary indefinitely, provided that it's renewed within the terms established by the law.
Never before has it been easier and safer for foreigners to purchase real estate in Mexico. With the introduction of U.S. Mortgage Companies now offering long term, fixed rate financing with as little as 20% - 30% down and unprecedented investment protection by US. Title Insurance Companies such as Chicago Title, Fidelity, First American and Lawyers Title Insurance help make your vacation or retirement home both affordable and secure.
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