Cancun Real Estate

by Kristy Annely - Date: 2006-12-27 - Word Count: 300 Share This!

Are you dreaming of owning a piece of the tropical paradise called Cancun? You can turn that dream into a reality by buying property or investing in real estate there. The wonderful sights, destinations and activities as well as the laid-back lifestyle in Mexico?s Caribbean coast draw millions of visitors to Cancun. Most of them choose to purchase either a vacation or retirement house in Cancun. If you are one of the many thousands of visitors smitten by Cancun?s irresistible charms and you want to buy your own abode here, there are some important things, especially legal and financial aspects, you should consider.

Cancun offers various types of real estate investments. An excellent real estate investment is expected to appreciate in value over time. You will be pleased to know that you can gain direct ownership of real estate in Mexico. However, you cannot own property within the restricted zone, which includes resort cities like Cancun, immediately.

As an alternative, you must set up a real estate trust to hold the title on your behalf. Since you will not be able to enter into a contract when purchasing real estate there, you must have a bank act on your behalf. In short, the bank will buy the property for you. The bank then becomes the legal owner of the particular property, but only in trust since all rights to and use of the property are yours.

To discuss your Cancun real estate plans in detail, you should consult the following: your lawyer, the real estate company, a bank and a public notary. If you need more information about buying real estate in Cancun, there are very accessible resources you can find online, offering very detailed information on everything about Cancun real estate, from the available properties for sale down to the purchasing process.

Related Tags: cancun, cancun spring break, cancun hotels, cancun vacations

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