Posted by Judith on January 17, 2001 at 21:57:12:
In Reply to: Re: Buying land in Mexico posted by JW on January 16, 2001 at 21:15:57:
While foreigners are not allowed to own land on the borders and coasts of Mexico they have set up a very good system that works very well. All you have to do is hire a bank (usually the one that gives the best rate) and use their trust department to set up a trust (called a "Fideicomiso") with you as the beneficiary. This is good for a term of 99 years may be renewed at the end of that term. Title insurance is just coming to Mexico, but by using the bank to hold your title, they will only take the land or property if they have proof that title is clear and registered with the Property Registry.
Like anywhere else you must rely on reputable people to do business with and check references.