Altoviento

Altoviento

Available :

Phase 1

-

Ready to move in

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Property details
Prices and Availability
MX $ 3 602 440
informations
Temozon Norte, Merida, Yucatan, Mexico
1 lot available / 37 total lots
Property type: land

Delivery date :

Ready to move in

HOA Fees :

MX $ 2000 / month

Phases & Delivery

Phase 1 : Ready to move in

Amenities

Features

Security
Security Cameras
Closing in pesos

Amenities

Garden
Walking Trails
HOA Fees :
MX $ 2000 / month

Development

Points of Interest

Airport
Mérida International Airport (MID)
15.9 km
Train Station
Mayan Train - Teya Mérida
17.5 km
Bus Station
ADO Altabrisa
5.9 km
Hospital
CHRISTUS MUGUERZA Hospital Faro del Mayab
2.4 km
Public Beach
Cancunito
12.6 km
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Frequently Asked Questions

Can a foreigner own real estate in Mexico?

Absolutely! The key distinction in the buying process is the use of a trust or fideicomiso. It is required to acquire property or land in the Restricted Zone. The restrcited zone is 100 km from the border with another country and 50km from the coastline.

What is the restricted zone?

100 km from national borders and 50 km from the coastline.

What is a Fideicomiso?

It is a trust system ownership sanctioned by the Mexican government and secured by the Central Bank of Mexico.

In very simple terms, the foreign buyer is the beneficiary of that trust.

It is 50-year perpetually renewable and transferable bank trust.

The beneficiary of the trust has ALL the rights commonly enjoyed by a Mexican owner (use, sell, lease, etc) 

It means irrevocable and absolute ownership rights to the property; the bank CANNOT sell the property without written consent of the beneficiary. The Mexican Bank Trust only holds the property title for the beneficiary but doesn't have any rights over the property.

It is important to mention that a lot of Mexican nationals go for a trust based ownership as it clearly states the beneficiaries in case of death.

Why is the use of a trust required?

In the 1917 Mexican Constitution, foreign ownership was forbidden in the Restricted zone because of Mexico's long history of land ownership dominated by foreigners (article 27). In 1973, a series of foreign investment laws were implemented as the Mexican government saw that foreign investment could have a positive impact on the economy. As a result of the relaxation of the laws on foreign investment, the trust system was created in 1993. Overall, it was much easier to create a trust system for foreign ownership than completely changing the Mexican Constitution.