Purchasing Property in Mexico.
In the last 15 years the Mexican government has drastically changed the laws regarding foreign property ownership. It is now possible for US citizens to buy residential or development property anywhere in mexico. The law permits foreigners to purchase and own property through a land trust also known as “fideicomiso.” It is a straightforward arrangement between you (the beneficiary) and a mexican bank (the Trustee) purchasing the property on your behalf from the seller (the trustor). The Mexican bank (trustee) will take your money and purchase the property on your behalf. You (beneficiary) will have full rights to enjoy, occupy, rent or lease, build and improve, and of course sell the rights to transfer title to someone else. The Department of Real Estate and other US agencies have ruled this arrangement the equivalent of a fee-simple title transaction. The trust has a 50 year or less term that can be renewed indefinitely. Arrangements can also be made to delegate the next beneficiary if anything happened to the original buyer. This proven method of owning property in Mexico is often times said to be easier than buying in the United States.
Surrounding Areas.
Los Barriles.
Welcome to Beautiful Los Barriles. Perfect weather, spotless beaches, wonderful culture make up this East Cape town the ideal location. Cabo San Lucas can’t compare if your looking for something beyond the resorts and tourists. With Beaches on the Sea of Cortez, Los Barriles offers the perfect escape from it all. Come visit for yourself and experience the unique feel of old Mexico. There are several restaurants, bars, a medium sized grocery store, and endless array of shops. A trip to the La Paz, San Jose del Cabo or Cabo San Lucas will satisfy your larger department store needs. Anything you can buy in the United States is available in one of these cities.
El Cardonal.
El Cardonal is a small, quiet, fishing village located between the North and South Abels Beach Properties. It provides a couple of small tiendas (convienence stores) as well as a few tasty restaurants. A well stocked hardware store is also located here on the north side of the town. Fishermen launch their pangas (fishing boats) every day from Cardonal. You can charter a boat from here to fish or to take in the scenery. The Bay of Dreams is just a 30 minute boat ride, where you can find yourself a restaurant for a delicious lunch or dinner. Beyond the Bay of Dreams is Cerraldo Island, renamed in honor of Jack Cousteau. For additional shopping options jump on an atv or drive to Los Barriles only 15 miles to the south.
