Big Changes On The Horizon For Americans Buying Baja Real Estate
On April 3 this year, the Parliamentary Group of the Institutional Revolutionary Party (PRI) and the Parliamentary Group of the National Action Party (PAN) of Mexico submitted a bill proposing to amend section I of Article 27 of the Mexican Constitution to allow foreigners to own land.
Going Green No Longer Means Going Without
San Felipe. Baja California (PRWEB) May 03, 2013
On April 3 this year, the Parliamentary Group of the Institutional Revolutionary Party (PRI) and the Parliamentary Group of the National Action Party (PAN) submitted a bill proposing to amend section I of Article 27 of the Mexican Constitution to allow foreigners to own land.How will this affect Americans that own property in Master Planned communities such as Rancho Costa Verde?
Presently, Americans can own property in Mexico through a Fideicomiso or Bank Trust. Any foreigner can institute a Fideicomiso (the equivalent to an American beneficial trust) through a Mexican bank in order to purchase real estate anywhere in Mexico, including what is commonly called the Restricted Zone. To do so, the buyer requests a Mexican bank of his/her choice to act as a trustee on his/her behalf. This conveys the same bundle of rights that holding property “fee simple” does in the United States. You can will it, lease it, sell it, rent it and improve upon on it… It’s absolute. It’s irrevocable. It’s in perpetuity. And that is the definition of ownership. While this is a secure way to own land, there are changes on the horizon to make ownership even more simple.
This reform intends to allow foreigners to purchase properties directly, replacing the current structure which requires a trust agreement, regarding the land in the so-called “Restricted Zone”, which comprises a 100-km stretch along the borders, and a 50-km stretch along the beaches, providing that such land is given residential uses only. The purpose of this reform is to eliminate intermediaries and the participation of trustees in the process, thus reducing the costs of the transactions involved and giving legal certainty while encouraging foreign investments.
If such section of Article 27 of the Mexican Constitution is amended, then foreigners may purchase property directly for residential purposes in the “Restricted Zone” without having to resort to a trust, and foreigners who currently own property under a trust agreement may choose to cancel the same and become the direct owners of such property.
This is good news for owners at developments like Rancho Costa Verde. Rancho Costa Verde is a 350-acre master planned real estate community just south of San Felipe that offers 180-degree sea and mountain views from every home site. Rancho Costa Verde is a self-contained solar powered green community that takes advantage of the advances in solar power and green technology, as well as the unique, natural amenities that only Baja California provides. The 1/4-acre home sites start as low as $17,500.00.
This amendment to the Mexican constitution has just a few more steps until it becomes enacted. The timeline for this to happen is estimated to be approximately six months from now. This will make the dream of beach view living even more of a reality and the process even more simple than it already is.
Ground Breaking Excitement at Rancho Costa Verde!
The Green Master planned community Rancho Costa Verde is having a ground breaking ceremony the weekend of February 23rd for the construction of its clubhouse restaurant and pool. This resort style recreation area will truly be “ground breaking” because it will be the very first of its kind in Baja California. The entire clubhouse and pool area will be Green, completely self contained and “off-grid”.
What does that mean? It means that the entire bar and restaurant as well as the pool and Hot tub, along with the twelve
bedroom units, or casitas, will be completely solar powered. The clubhouse will be utilizing salt water purification systems as well as waste management systems to provide, conserve, and recycle water.
The development is permitted for a well that will provide water to the entire clubhouse through a desalinization processing plant. The bar and grill, the pool and hot tub, and each of the twelve “Casita” units will all be provided electricity through cutting edge solar power technology. The clubhouse bar/kitchen along with the restaurant will be equipped with air-conditioning, High def televisions and high speed wifi internet. Each of the casita units will also be equipped with A/C and full bathrooms as well. The “Infinity” pool, pumps,hot tub; all will be powered by the sun.
“We will be providing to our owners at Rancho Costa Verde all the luxuries and amenities one would expect at a beach club overlooking The Sea of Cortez. The difference between our clubhouse and pool from any other, is that it will be completely solar powered and self sustained,” Says Frank Ingrande, principal and co-founder. He continues, “We at Rancho Costa Verde are very excited to show that ‘Going Green’ no longer means going without.This clubhouse will be a clear example of what can be done today, as well as what the future holds, for green construction technology.”
Rancho Costa Verde is a master planned real estate community south of San Felipe that offers breathtaking 180-degree sea and mountain views from every home site. It is located at KM 52.5 on Mexican Highway 5. This cutting edge development is a solar powered community, which takes advantage of the advances in solar power and green technology, as well as the unique, breath-taking natural amenities that only Baja California provides, to offer a style and standard of living that many Americans once thought out of reach.
It is a 350 acre master planned community that will remain 50% undeveloped. What that means is that half will never be touched while 40% is set aside as a registered ecological preserve. Of the 350 acres there are only 364 home sites. The average custom parcel is a 1/4-acre, and starts as low as $17,500.00. There are custom homes completed at Rancho Costa Verde, with part and full time residents. Rancho Costa Verde is building custom homes from $70 a square foot.
Solar powered luxury resort living. Green technology and Eco-friendly construction. All the amenities that you could expect at a beach club, and it’s completely solar powered.
The weekend will truly be a ground breaking event, and it’s all happening in Baja California, at Rancho Costa Verde.
Research Shows That An Increasing Number of U.S. Workers Are Retiring To Mexico
April 20th, 2010 | Career Resources, Inc.
With a down economy, layoffs and a bleak economic future for employees, many companies are providing “retirement counseling” in order to assist employees leaving the workforce with positive change of life options, and these include information on retiring in Mexico. Mexico cost of living allows retirees to stretch their pension and investment money. Additional reasons include better climate, a higher standard of living and access to health services that cost up to 12 times less than those in the United States. The health Insurance Industry is acting upon this significant trend. Already, the four largest commercial U.S. health insurers—with enrollments totaling nearly 100 million people—have either launched pilot programs exploring or offering overseas travel to countries like Mexico for health services. Some smaller health insurers and brokers also have introduced travel options for hundreds of employers around the country. It also makes sense that Americans should be able to use insurance benefits from Medicare and Medicaid in Mexico. And that ability may become reality very soon, says Bruno Ferrari, the chief executive officer of Promexico, Mexico’s foreign investment agency. And he believes that within one year, the governments of Mexico and the U.S. may have an agreement to let Americans use their Medicare and Medicaid insurance at Mexican health care facilities. Already, 10 U.S. and Canadian companies have expressed an interest in building facilities to cater to Americans seeking to take advantage of low medical expenses, he says. This is all good news for those who live in Mexico and for anyone thinking about relocating or retiring there.
- 350-acre master planned community that offers breathtaking 180-degree sea and mountain views from every home site.
- 1/4-acre home sites start as low as $17,500.00. Rancho Costa Verde offers secure ownership with title insurance provided by Stewart Title.
- All properties are either ocean front or have full ocean views
- 80 percent of home construction material is made from recycled material
- Homes are powered by renewable energy solar and/or wind
- Homes have waste water treatment systems that recycle all water for irrigation
- Homes use an atmospheric water maker that produces purified drinking water from the humidity in the air with power produced by the sun.
- Homes sell for a fraction of what they cost in the United States and Canada.
When asked if you can own property in Mexico, Frank responded, “Yes, you can legally own property in Mexico — including beachfront. Foreigners can legally own property in Mexico, and the Mexican legal system protects the rights of foreign property owners. That means you can enjoy owning the kinds of property in Mexico that might be priced out of your budget in the US – including beachfront and beach view property. Mexico’s Foreign Investment Act, allowing foreigners to own beachfront property, was passed in 1994 with the North America Free Trade Agreement.
- According to U.S. government figures, Mexico’s economy moved ahead of Canada’s last year, making it the 12th largest economy in the world.
- Unlike the U.S., Mexico is one of the world’s largest oil exporters and sells 1.7 billion barrels of oil to the U.S. each day. As a result, Mexico’s economy is actually strengthened by today’s rising oil prices.
- Mexico’s stock market has also taken off. In fact, over the past five years, Mexican markets have outperformed U.S. stocks (as measured by the S&P500) by 10 to 1.
- Mexico’s government has launched a 5-year, $250 billion program to build new highways, railways, airports and ports throughout the country, much of that in Baja.
- And today, there are countless state-of-the-art hospitals and care homes being built specifically to service the aging baby boomers arriving from north of the border.
To receive additional information on retiring in Mexico or the Rancho Costa Verde Project call 1-866-464-0243 or visit www.ranchocostaverde.com.