TRUST
The foreigners, including U.S. and Canadian citizens, are allowed to buy property in Mexico. However, some Tulum Real Estate can be found in the “restricted zones”. These zones, known as the Zona Federal, included the coastline – and that means the coastline of the Riviera Maya as well. Foreigners are not directly allowed to buy property in these zones. However you can buy property indirectly in these zones through the Fideicomiso (bank trust) method set up for this purpose. The trust lasts 50 years and are automatically renewable at the end of this period. You are the primary beneficiary of the trust, and in practice these means almost all the benefits of ownership, including the right to name an heir. A bank trust is not a lease.
The Mexican government established the trust agreement as a way of protecting foreigners interested in owning property in Mexico. The reasoning was that by making ownership pass through the trust process, there would be an automatic review of the transaction to ensure it was legal and unencumbered. The bank is required to check ownership, insurance and indebtedness of the property, providing further protection to the foreign owner.
Aldea Zamá - Fideicomiso
