Buying Property in Mexico
Due to the restricted zone regulations that prohibited foreigners from buying Mexico real estate within sixty miles of an international border, or within thirty miles of the Mexican coast, property ownership in Mexico hasn't always been easy. However, the Mexican government identified a need to cater for those that wanted to make real estate investments in Mexico, and with this in mind a solution was developed to enable this to happen.
This solution is known as a Mexican Property trust, otherwise known as a "Fideicomiso." This is a safe, simple and fully renewable Mexican Property Trust, which enables average consumers that wish to vacation or retire in Mexico to own their own stunning property. Like an estate trust, the Fidecomiso gives you, the purchaser, all rights of ownership.
How does the Fidecomiso work?
With a Fideicomiso, a permit is issued to a Mexican bank of your choice by the Mexican Department of Foreign Affairs. This makes the selected bank the trustee, thus making you're the beneficiary of that trust. Ownership of the property still belongs to you, but the bank acts as the trustee as it would in the case of a living will or estate trust.
As the actual beneficiary and owner of the property, you have the usual ownership rights over the property, which means that you can:
- Use / occupy the property.
- Build on the property.
- Improve the property.
- Sell the property (through instruction to the trustee).
- Bequeath the property in a will.
The trust term is usually fifty years, and it is then renewable in fifty-year periods. The substantial length of the trust means that you won't have to worry about regular renewals. The simplicity and convenience of a Fideicomiso means that it is now easy to enjoy the many benefits of Mexico real estate ownership. The Mexican Property Trust provides a safe and effective solution for those that want to enjoy ownership in Mexico, so you have benefit from a stunning property in fantastic surroundings and with minimal hassle.
Oaxaca
From Wikipedia, the free encyclopedia
Oaxaca is the name of both a state in Mexico and that state's capital city. This article is about the state. For the city, see: Oaxaca, Oaxaca.
The Mexican state of Oaxaca is in the southern part of Mexico, west of the Isthmus of Tehuantepec. Oaxaca borders the states of Guerrero to the west, Puebla to the northwest, Veracruz to the north, and Chiapas to the east. To the south Oaxaca fronts the Pacific Ocean.
Oaxaca has an area of 95,364 sq km; it is the fifth largest state in the Republic. In 2003 it had an estimated population of 3,597,700 people.
The state is located in the mountains and valleys of the Sierra Madre del Sur range.
Oaxaca is the historic home of the Zapotec and Mixtec peoples. Mexico's most famous leader, President Benito Juaez, came from the Oaxacan village of San Pablo Guelatao. Other famous Oaxacans include Rufino Tamayo, Porfirio Diaz, Francisco Toledo, J. Alberto Canseco Diaz, Major League Baseball player Vinny Castilla and many other writers, artists and politicians.
History
During the millennia prior to the arrival of the Aztecs in 1436, the most powerful and influential groups in what is today Oaxaca were the Zapotec, the Mixtec and the Mixe. The civilizations achieved by these groups are reflected in important archeological sites including Monte Alba, Mitla, Guiengola and Huijatzoo.
The influences changed when the Aztecs settled around the Cerro del Forte and down to the present Church of Carmen Alto where their temple was located.
As the Spanish who arrived less than a century later found this difficult to pronounce it evolved into the present name of Oaxaca, for the city and for the state. The settlement founded by the Spanish in 1521 as Segura de la Frontera, later known as Nueva Antequera, was officially raised to the category of a "royal" city in 1532 by decree of Emperor Charles V (Carlos I) with the name of Antequera de Guaxaca.
Crafts
Oaxaca has a number of native crafts, including the production of alebrijes, weaving and black clay objects. Oaxaca is also known for producing mezcal, similar to tequila and sometimes with the worm inside the bottle. Oaxaca also produces alebrijes, which are popular wooden carvings of animals, usually painted with very vibrant colors.
External links
- Official site of the State Government (in Spanish)
- Oaxaca's Tourist Guide (in Spanish and English)
- Oaxaca's original English newspaper
- Towns, cities, and postal codes in Oaxaca (in Spanish)
For more information regarding beach front property in Puerto Escondido, Mexico, please contact:
2241 Park Place, Suite D, Minden, Nevada 89423 - Telephone : 775.782.5100 - Toll Free : 888.577.2624
