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Nestled between San Felipe’s pristine south beach and the jutting granite mountains separated by just a mile of sandy dunes, natural desert landscapes and ample desert fauna, is 60 acres we call La Joya del Mar; The Jewel of the Sea. Is all about Location. 15 minutes from the Airport and 20 minutes from downtown. The perfect spot.
La Joya del Mar currently has more than a hundred available mountain and sea view lots. All of them with underground utilities installed. Don’t leave for tomorrow what you can enjoy Today !
Individual Clear Title Guarantee
The development meets all the permissions required to operate by law, including federal zone permissions on beach area. Most importantly La Joya del Mar has a Developer F4 Level certification, which ensures that La Joya del Mar has all permissions and meets all criteria to guarantee the legal acquisition of land by the buyer.
Utilities Availability Guarantee:
The development covers a yearly Consumer Services Insurance Agreement which guarantees the continuity of all priority services in the development like water, sewage, garbage disposal and electric.
Sea & Desert View Lots price range: 50K to 315K
These are some of the Features included on the development plans of La Joya del Mar:
- 24 / 7 Secured Gated Community – Private Water well – Underground Electricity – Sewage System – Garbage Disposal System
- Professional Assistance in all phases of your home construction – Home owners Association will be implemented accordingly – Club House included on second phase of development – Paved streets included on second phase of development
Our Sales Representative will assist you about how purchasing in Mexico and will act as liaisons between you, your mortgage company (if you choose to mortgage) and the trust company of your choosing, to help make your purchase as worry-free as possible.
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How can Foreigners own property in Mexico?
A common misconception is that foreigners cannot own real estate in Mexico. The likely source of this fallacy is misunderstanding and misinformation with regard to the “Restricted or Prohibited” zone. Under certain conditions, non-residential property may be purchased and 100% owned by foreigners through a Mexican corporation. To accomplish this, the foreign-owned Mexican corporation must state in its by-laws that the corporation and its foreign owners accept and agree to be subject to Mexican laws, forfeiting their ability to invoke the laws of their native country. The real estate must also be registered with the Foreign Affairs Ministry as being used for non-residential residential activities. With those requirements met, a foreigner may directly acquire properties destined for tourist, commercial and industrial use. The Mexican Constitution regulates ownership of land, and establishes the Restricted or Prohibited zone, and states, within a zone of 100 kilometers along the border or 50 kilometers along the coast, a foreigner cannot acquire the direct ownership of the land. This provision does not prohibit foreign ownership of land within this zone, but establishes that a foreigner or foreign corporation can obtain all the rights of ownership, but must do so through the use of a Fideicomiso or bank trust. See below.
Notario Publico-Notary Public
A Notario Publico (Notary Public) is a Mexican government appointed lawyer who receives education, training and certification beyond that of regular Mexican attorneys. Notarios process and certify all real estate transactions, including the review of all real estate closing documents, insuring the proper execution and transfer of property. In addition to their real estate duties, Notarios are also responsible for handling all powers of attorney, the formation of corporations, will, official witnessing, etc., and is responsible for the related collection of taxes. In connection with real estate transactions, the Notario, upon request, receives the following official documents, which by law are required for any transfer of property: A nonlien certificate from the Public Property Registry based on a complete title search. A statement from the Treasury or Municipality regarding property assessments, water bills, and other pertinent taxes that might be due. An appraisal of the property for tax purposes.
Upon closing, the buyer is responsible for paying the transfer or acquisition tax (ISAI) as well as all other closing costs, including the Notario fees and expenses. The seller is responsible for paying capital gains tax (ISR) on the transaction. The total closing costs for the buyer of Mexican property are generally between 3 and 5 percent of the price of the property, based on the highest amount of the following: The amount for which the property is sold. The value of the official tax appraisal (generally less than the sales value). The value designated by the property assessment authorities.
“Escritura”- Official Deed
Normally, the Escritura or Official Deed is signed and certified by a Notario Publico or Notary Public when the balance is paid (by you or your mortgage company) and the property delivered. Generally, this process should take no more than 45 days.
What is a Fideicomiso?
A Fideicomiso is the equivalent of an American beneficial trust. Any foreigner or Mexican National can execute a Fideicomiso through a Mexican bank in order to purchase real estate anywhere in Mexico, including but not limited to areas within the Restricted Zone. To execute the Fideicomiso, the buyer requests a Mexican bank of his/her choice to act as a trustee on his/her behalf. The bank then obtains a permit from the Ministry of Foreign Affairs to acquire the property in trust for the exclusive use of the buyer/beneficiary. The Fideicomiso is established for a maximum term of 50 years and can automatically be renewed for another 50 years and can automatically be renewed for another 50 years. During these periods, the foreign owner maintains all the rights of fee simple ownership, including the right to lease or transfer the title to any other party, including a pre-appointed heir or family member (thus establishing continuity of ownership in cases of will or estate plan execution). Under a Fideicomiso, the bank is appointed as trustee and assumes full technical, legal and administrative supervision of the trust, with the task of protecting the interests of the buyer (beneficiary). As an added layer of security for the buyer/beneficiary, the Fideicomiso is not held by the trustee as an asset of the bank. Additionally, as a matter of law, during the period of the Fideicomiso, the foreign beneficiary is considered to be a Mexican National. For many practical reasons, many foreigners as well as Mexican Nationals prefer to hold their property under a Fideicomiso, even in unrestricted zones.