Glossary of Real Estate terms used by Baja Real Estate Group's website.

There are 367 Real Estate entries in this glossary. Complete with definitions.
Search for Real Estate terms used in Mexico and in the U.S. (regular expression allowed)
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Term Definition
Mexican Bank Trust

Also known as a Fideicomisio, it is a contract trust between two parties by which one of them transfers ownership of its goods so that it is managed to the benefit of a third party. In 1973 there was a constitutional amendment called Foreign Investment Law which allowed foreigners to purchase land in the borders and coasts by way of a Trust through a Mexican Bank (Fideicomiso). This trust assures the buyer all the rights and privileges of Ownership and can be sold, inherited, leased, or transferred at any time. Since 1994 the Foreign Investment Law stipulates that the Fideicomiso must be to a 50 year term with a 50 year renewal anytime with a petition. If you have purchased a property with a Bank Trust you can stay with the remaining time of that trust or you can apply to the Ministry of Foreign Affairs for a new 50 + 50 year period.