Suzie's Blogs ... Traveling & Living Abroad Hints & Tips

Purchasing Real Estate and Time Shares In Mexico This is a continuation of travel hints and tips that I began several days ago. If you'd like to see the First post concerning travel to Mexico you can see it 1ST Post is HERE. Then follow the sequence right up the archives. Be cautious when purchasing real estate. U.S. citizens who become involved in time-share or other real property purchases should be aware that Mexican laws and practices regarding real estate are markedly different from those in the United States. Foreigners purchasing real estate or time-shares in Mexico have no protection under Mexican law and should be aware of the high risks involved. Foreigners may be granted the right to own real property only under very specific conditions and the purchase of real property in Mexico is far more complicated than in the United States. For example, no title insurance is available in Mexico for the purchaser, and builders frequently go bankrupt, leaving the investors with little recourse to recoup their funds. The U.S. Embassy strongly recommends the use of competent local legal assistance for any significant real property or business purchase. A list of local attorneys can be obtained from the U.S. Embassy or the nearest consulate in Mexico. Posted: Tuesday 25th January 2005, 12:10 AM

Back to the Travel Destinations Blog