With the phenomenal growth in Real Estate around Banderas Bay the Tribune is helping sort through the confusion by having your personal Real Estate and Financing/Mortgage
questions answered by our local experts – Wayne Franklin, President of one of the Bay’s most successful Real Estate Agencies Tropicasa and David Schwendeman and Terence Reilly, Founder’s of MEXLend, an industry-leading Mortgage Broker based in Vallarta.

Q:
What is a Trust and why is it needed? Alicia M., Vancouver, B.C.

A:
For historical reasons, the Mexican Constitution forbade foreigners from buying property in designated restricted zones. These zones are comprised of areas near the Mexican border and areas near the coast. The advent of the Trust became a device whereby the government could allow these transactions to occur and bring in an influx of foreign investment. A Trust behaves very much the same as a trust in the US. The purchaser is the beneficiary of the trust and controls what happens in the future with the property in the Trust. It is automatically renewable in 50 years, it is willable and sellable and in all respects allows the beneficiary or foreign purchaser to treat it as real property.

Actually, it is a terrific tool for protection of your investment as this puts a powerful ally in the path of any questions concerning the deed. For further in depth information, please log on to the website of your realtor or mortgage broker or call them. We/they would be
happy to talk with you.

MEXLend, Inc. is a Mexican mortgage brokerage offering loan options in Dollars and Pesos for buyers looking to purchase vacation or investment property throughout Mexico.

In recently announced results based upon post-closing client interviews conducted by Mexico’s largest US lender, MEXLend won the #1 mark of distinction for both client satisfaction and fastest closings. MEXLend can be reached at 322-132-7991 (in Vallarta), 917-779-9061 (while in the US or Canada) or go online at www.mexlend.com.

We invite you to e-mail your questions regarding buying or financing Real Estate in
Mexico to buyinginmexico@hotmail.com....