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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Alan Smithee who wrote (49978)	1/14/2004 8:07:47 PM
From: 2MAR$	Read Replies (2) \| Respond to of 57110

According to the Mexican constitution, foreingners are prohibited from owning propery within 50 km of the ocean or within 100 km of an internationl border. To control titled properties in Mexico, it is necessary for the foreigner to set up a bank trust and for the property in question to be titled to the trust. The trust is a Mexican entity and therefore has the right to own land anywhere in Mexico. The foreign beneficiary fo the trust would retain all rights, benefits and repsonsibilities of propery ownership including appreciation, proceeds form rentals andsaleof the property and would direct the trust officer in all matters regarding the property. This process is the means by which a foreigner can legally own property in Mexico and was designed to give foreigners full protection for their real estate investments. sayulita-mexico.com why does that make me feel so reassured ? nice place to visit though <g>