Absolutely!
Even as a tourist, you may buy real estate
in Mexico. With proper advice, it is safe
and easy. Foreigners who buy real estate
in Mexico, have the full protection of the
Mexican law.
In the interior of Mexico, where Lake Chapala
is, foreigners can obtain direct ownership
of property and have their own name on the
title, and can even name beneficiaries.
On the coast, and close to the borders, (in
what is called the 'restricted zone'),
foreigners can still buy property, but must
set up a bank trust (or Fideicomiso). All
real estate transactions involving a trust
are governed by federal law.
Mexican Notary Public.
It is important, however to use the services
of a Mexican Notary Public. In Mexico, every
legal document must be made before a notary
public. The Notary Public is a public official
appointed by the State Governor (he has a
higher standing than an attorney/lawyer).
He is legally responsible that everything
is in order. I can introduce you to the recommended
Notary Publics in our area.
An interesting fact.
Much of the real estate trade Lakeside is
between foreigners and most of the prices
are in US Dollars.
