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International Real Estate – Mexico

posted 4 weeks ago

Author

Aureliano Gonzalez-Baz

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+52 55*****

I have practised Mexican real estate for more than 40 years with Mexican and/or foreign buyers, sellers, bankers, creditors, governments, trusts, hotels, airports, hospitals, industries, courts, etc. Thus, if Mexico continues to be an important supplier of goods and services to the US and China, etc, we expect to continue being involved in this area. We have, in the last 15 years, been very involved in carrying out said work for international governments, including the first-ever Mexican permit for a foreign government to be able to purchase real estate outside Mexico City. We also very frequently now advise Mexicans in their purchases of US real estate.

Mexico is slowly developing high-tech in real estate, but there has been nothing really dramatic yet.

We have a full department for ESG, but it has developed very slowly in Mexico. We are involved with the United Nations and participate in all possible activities to foster involvement of ESG.

Acquisition by a Mexican subsidiary of a US company wherein the tract of land (more than 400 acres) included housing (single housing), a customs house, an airport and a hospital for 100 patients. It also involved the need to obtain special permits from the Mexican Federal and State governments, and where the client was able to obtain federal government permits to install and operate a drinking water facility. The location was also to include a grammar school, a middle school and a high school, as well as a social security facility for toddlers.

In addition, the facility was required to obtain (from the Mexican Bureau of Customs) a facility that would quality as a water port for inspectors.

The first problem that we encountered was the metes and bounds of the property. Due to the movement of water, it had reduced the amount of beach land by two inches per year. Therefore, it was required that the Federal Government of Mexico went back to Federal Congress to amend the consent they had given to this project in the past – because the metes and bounds of the property, which are of paramount importance, had changed and were shifting rapidly between two to four inches per year.

Afterwards, we had to approach and work with US Counsel to procure the consent and permits for the facilities to be approved by US government, including an immigration and US border facility.

Once it is necessary to amend the permits for the airport, everything else had to be reappraised and reapproved because of the movement of water.

After more than five years, it was necessary to get all permits approved and finalised for the company.

We are very well known for being active in data-sharing events, and we normally hold conferences and webinars in all fields of law, as well as in international programmes.

Yes – recently, the Mexico City Congress legislated the activities of rental operations (such as Airbnb and the like) of all operations in Mexico City.

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