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Welcome to Mexico


About Mexico

Officially United Mexican States, republic (1995 est. pop. 93,986,000), 753,665 sq mi (1,952,500 sq km), S North America. It borders on the United States in the north, on the Gulf of Mexico (including its arm, the Bay of Campeche) and the Caribbean Sea in the east, on Belize and Guatemala in the southeast, and on the Pacific Ocean in the south and west. Mexico is divided into 31 states and the Federal District, which includes most of the country's capital and largest city, Mexico City.

Land

Most of Mexico is highland or mountainous and less than 15% of the land is arable; about 25% of the country is forested. Most of the Yucatán peninsula and the Isthmus of Tehuantepec in the southeast is lowland, and there are low-lying strips of land along the Gulf of Mexico, the Pacific Ocean, and the Gulf of California

 In the south the deserts yield to the broad, shallow lakes of a region, comprising the Valley of Mexico, known as the Anáhuac and famous for its rich cultural heritage. South of the Anáhuac, which includes Mexico City, is a chain of extinct volcanoes, including Citlaltépetl , or Orizaba (18,700 ft/5,700 m, the highest point in Mexico), Popocatépetl , and Iztaccihuatl . To the south are jumbled masses of mountains and the Sierra Madre del Sur.

People

The great majority of the population are of mixed Spanish and indigenous descent and speak Spanish, the official language, as their first language. Various Mayan dialects are also spoken. Since 1920 the population of Mexico has had a very high rate of growth, almost entirely the result of natural increase; from 1940 to 1990 the population grew from 19.6 million to 81.1 million.

*Columbia Encyclopedia, Sixth Edition, Copyright (c) 2003.

Owning Property in Mexico

Owning property in Mexico is a simple process - if you're buying in Baja, and you are not a Mexican National, you will use a "fideicomiso," or "bank trust." If you are buying a property that is already in a bank trust, the trust will be transferred to your name at the time of closing. If you are buying a property that has never been held in a bank trust, you should consult your realtor to determine which bank, or banks are the best to work with in terms of keeping you updated and keeping your trust updated and ready for sale or transfer.
A bank trust is somewhat similar to a "living trust". With a bank trust, you are the controlling beneficiary of the trust. You may do anything within legal limits that you wish to with the trust. You may will it to your heirs, build on it, rent it, or sell, or give it away. Again, you are in control and may do just about anything within legal limits that you desire with the property contained in the trust.

If your purchase is in mainland Mexico, and not within 100 kilometers of any international border, or 50 kilometers of any coastline, you may hold the property in a fee simple title very similar to the title on your home in the USA.

Wherevere you buy in Mexico, be sure that you work with a qualified, reputable realtor, such as a member of AMPI. AMPI members all follow a rigorous code of ethics. Ask your realtor to recommend a good attorney and follow sound practices in purchasing your dream home in Mexico. Place all funds into Escrow until clear title is proven by the owner, consider purchasing Title Insurance on your dream home, and above all else, don't do anything in Mexico that you wouldn't do in the good ol' US of A.

Bienvenidos a Mexico! Welcome to Mexico.

Questions - need additional clarification - send your questions to SteveS.in.Baja@gmail.com - I'll be happy to answer any questions you may have about owning property in Mexico.

 

 


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