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En Possumus combinamos nuestra amplia preparación y experiencia con un trato personalizado que facilita las operaciones legales de nuestros clientes, disminuyendo riesgos y reduciendo tiempos de espera. Creamos valor dando forma y legalidad a las transacciones y estrategias de nuestros clientes.
- Adquisición de propiedades
- Subdivisiones
- Fusiones
- Regímenes de Propiedad en Condominios
- Auditorías Legales
- Contratos de Inversión
- Búsqueda de títulos
- Contratos de compraventa
- Contratos de fideicomiso
- Asesoría legal para inversionistas extranjeros
- Transmisión de inmuebles; en comodato, usufructo, etc.
- Diseño, estructuración y creación de nuevos negocios y su constitución como sociedades o grupos empresariales.
- Fusiones y escisiones corporativas; nacionales y extranjeras.
- Contratos de Prenda Mercantil, Hipotecas, Transacciones, y Fideicomisos de Administración y Garantía;
- Elaboración de Actas de Asamblea.
- Libros Corporativos
- Asesoría para inversión extranjera
- Contratos mercantiles y administrativos.
- Provides leading sports law and business expertise and experience for all your legal and commercial sport’s needs.
- We advise governing bodies, clubs, sponsors, individual sportsmen and sportswomen in the sports sector on all legal matters relating to sports.
“Uso con licencia de la Federación Mexicana de Fútbol Asociación, A. C. para Possumus Lex Counseling. © Todos los derechos reservados.”
Real estate transactions in Mexico are governed by local state law. Each state in Mexico has its own civil code and other laws and regulations governing issues such as condominium ownership, zoning and registration of title.
All documents contemplating transfers of and creation of security interests on real estate must be executed before a notary public. Real estate properties must be registered in the name of the owner in the Public Registry of Property of the place where the real estate is located. Transfers of such property as well as liens and encumbrances thereon are only effective versus third parties (acting in good faith) if they are likewise registered. Certificates evidencing registration may be relied upon by the parties to a real estate transaction and serve as conclusive evidence of the matters covered thereby.
According to the Mexican Constitution, foreign individuals or entities may not own real estate within the “restricted zone” (that is the strip of land 100 kilometers from the borders and 50 kilometers along the coasts). However, they may hold a beneficial interest thereon under a trust agreement as discussed below.
Fee Simple ownership of real estate property outside of the “restricted zone” is allowed, however, by the Mexican Constitution to both foreign individuals and corporations. In this case a Covenant must be executed by the foreign person or entity seeking to acquire Fee Simple title of real estate outside of the “restricted zone”. Execution of this Covenant is aimed at securing that foreign owners do not seek protection from their governments in the event of a dispute arising from or in connection with the real estate property or rights pertaining thereto.
As of December 28, 1993, a new Foreign Investment Law became effective in Mexico, setting forth several innovative concepts for the participation of foreign investment in the country.
Regarding real estate, the most relevant issue is the fact that Mexican corporations, regardless of the percentage of foreign ownership, may now directly hold title on real estate within the restricted zone, provided said real estate is used for non-residential purposes.
Previously, foreigners or Mexican corporations without a foreign exclusion clause, could only hold a beneficial interest on real estate located within the restricted zone, through a trust agreement to be entered with a Mexican bank as trustee.
However, to hold title of property located within the restricted zone for residential purposes, foreigners and Mexican corporations without a foreign exclusion clause must do so through a trust agreement. Under the new Foreign Investment Law, the term for the permits for said trust agreements has increased from 30 years to 50 years (renewable for additional 50-year periods).
The following taxes apply to real estate and transfers thereof:
A) Income or Capital Gains Tax. This tax must be always paid by the party obtaining the income. For said purposes, an appraisal on the property must be practiced by an authorized appraiser. Capital gains will be paid on the higher of the transfer value or the appraised value. Any contractual provision stating otherwise is null and void. Because most appraisals are lower than the actual price, many transactions are stated according to the former and the balance is paid “on the side”. This constitutes tax evasion and fines as well as imprisonment may be imposed by the tax authorities. The income tax rate varies depending on the circumstances of the transaction, and certain exceptions apply.
B) Transfer Tax. A two percent transfer tax must be paid for by the purchaser of the property upon transfer.
C) Real Estate Tax. A percentage determined by local tax authorities, which may vary depending on the conditions of the property (if said property is vacant, has constructions, etc.), must be paid annually by the owner. Upon transfer of the real estate, a copy of the most recent payments is requested by the public notary attesting the transaction, as well as a certificate evidencing that there are no outstanding debts thereof.
Before acquiring a real estate property, it is highly recommended to conduct a title search in order to ascertain, if, as a matter of public record:
a) The property is free and clear of any liens, mortgages, or encumbrances. A search in the records of the Public Registry of Property will make evident past and present liens or charges against the property, as well as any lawsuit(s) with respect to which the property could have been involved. A counsel opinion may help determine whether any degree of uncertainty may arise in the future as a result of past issues.
b) The property has been assessed with special government fees by the relevant municipality or state government as a result of city improvement or infrastructure works.
c) Property taxes for the property are paid up to date by the current owner.
d) The property has a water supply contract from the city water entity. Also, some properties do not have city water supply, but rather have a well concession by the National Water Commission (Comisión Nacional del Agua). If the latter be the case, a review of the well concession may be useful in determining usage water fees, and any quantity or use limitations imposed therein.
e) The property is current as to water fees.
f) The property has any access restrictions or otherwise is imposed with easements of any nature.
g) The property has ever been subject to communal or ejido property regime. Beginning in 1992, a series of legal reforms allowed for the disincorporation of farmland owned by ejido communities. For ejido farmland to be converted into private property, a series of highly formalistic legal steps must occur in compliance with the Mexican Agrarian Law, such as ejido meetings, observance of right of first refusal by all ejido members to acquire the discorporated land, which right is also extended to the municipalities where such land is located, etc. Failure to observe such formalistic requirements may result in the disincorporation process to be null, and the transfer of the land to third parties contended by ejido members themselves, in clear detriment of good faith purchasers.
h) The property owes any homeowners fees if incorporated into a condo regime.
i) The property has been used as a disposal site of hazardous materials.
These and other issues of particular concern for interested purchasers may be a matter of review through a title search and a title opinion.