Alfredo Barragán is the owner and CEO of Albago Estates, as well as our resident Real Estate expert. His experience and knowledge of the real-estate market, rentals and management comes from the numerous years he's spent working with property owners, buyers and sellers. This allows us to offer you the most efficient strategies to achieve the most profitable results in all your real estate needs. Because of the way we conduct business, many clients have come to be longtime friends over the years.
Albago Estates has forged a reputation throughout the years to the point where most of our clients have been referred by family and friends. We believe this is one of the best presentation cards a company can have and the embodiment of our motto "your satisfaction is the voice of our success.". When doing business with you, we feel responsible to offer the most efficient solutions to facilitate the process of your purchase or sale.
We know our service expectations have been met when a client returns to hire other services or perform another real-estate operation; this happens most of the time. When you lean on Albago Estates to provide your real-estate solutions, you possess the assurance of receiving the most efficient service from a most competent team; as we have established solid relationships with partners such as:
Albago Estates is known to help their clients obtain their ideal home at an ideal price. Our organized structure is unique in providing a clear and easy process. Whether you want to sell or purchase a property, Albago Estates will remain a trustful reference and a reliable property manager to secure you assistance. Albago Estates operates principally in the Marina Vallarta area and Hotel Zone, but we don't establish a range to provide our services.
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A deed is a public document submitted by a public notary, who states all the information related to the property's history, registration on the public registry office and grants its ownership. The public notary that signs with the granter provides faith of the judicial capacity of the content and date that the property changes ownership.
Mexican law states non-natives are unpermitted to acquire real-estate directly in some areas of the country. It also states that the purchase or sale of property located in a strip of fifty kilometers along the coast and a hundred kilometers along borders is unpermitted in terms of full ownership to foreign individuals or corporations for residential purposes. The areas above mentioned are legally defined as prohibited or restricted areas. Potential non-native investors who are interested in purchasing property located in these areas must channel their purposes through the establishment of a Trust with a Mexican bank. The trust is a legal instrument valuable to foreign investors wishing to acquire properties, invest in tourism or industrial developments for a time period of fifty years renewable.
Non-natives can in fact acquire real-estate in Mexico, though there are legal steps to follow. The property must be purchased through a bank trust, known as "fideicomiso" in Spanish. This is required primarily if the property is placed within a hundred kilometers of a border or fifty kilometers of the coastline.
A bank trust or fideicomiso is a commercial contract governed by Mexico's general law of credit instruments and operations. It includes a number of mandatory provisions which can not be modified or waived. It is a trust held under the client's name in a Mexican bank, which acts as the fiduciary. As the beneficiary of the trust, you mainting absolute control, use and maintenance of the property as well as decision-making. This trust is not a least, but it could be equivalent to an American fiduciary. The trust gives the beneficiary the capability to use it, lease it, sell it, among other actions.
The Unique Population Registry Code is a unique identity code for both citizens and residents of Mexico. Each CURP code is a unique alphanumeric eighteen character string present on the resident card of a non-native.
The Public Registry of Property provides the registry services to make legal acts and deeds public by requirement of the law. Aiming to preserve the judicial security of real-estates and mercantile, the Public Registry of Property must apply the registry principles of publicity, legitimacy, consent, qualification and principle of party disposition. This institution creates deeds as official instruments which can be researched at any time in the local offices. The deeds must be finalized and signed by a public notary, and it will typically list the parties involved in the transaction. The deed identifies the property and once it's finalized and signed by all parties the transaction can be considered closed.
Public notaries are state authorities whose responsibility is to aid in the prevention of fraud, working as impartial witnesses who certify the authenticity of a document. They are licensed attorneys who write wills, mortgages and several other legal documents. In short, a sale must go through a public notary to acquire legal authenticity.
Financing is currently available for citizens of the United States, Canada, United Kingdom and Spain. There are financial institutions that work locally and have been improving their service quality and lowering their rates to entice more investors.
To set it short yes, if someone earns money of a sale they must pay taxes. This applies when they are not a full time resident and tax payer. The concept of capital gain tax does not apply in the same way it behaves in the United States. It could be stated that the tax on the gain is of thirty-five percent. For example, selling a property with an initial price of one hundred thousand dollars for two hundred thousand dollars would generate a thirty-five thousand dollar tax. To determine the gain the original land cost and depreciated construction cost are deducted from the amount for which the property is officially sold for.