"Shortwave Sportfishing" wrote in message
...
On Fri, 03 Feb 2006 14:59:12 GMT, "NOYB" wrote:


"Skipper" wrote in message
...
Skipper wrote:

Gene Kearns wrote:

Skipper penned the following well considered thoughts:

Even today, Americans can't own land in Mexico. The banks own it,
and
make
you the executor over the title.

You are factually incorrect, sir. Americans can own and hold full
title
to land in Mexico.

Skipper, again, you are just wrong.

As usual, Gene, you are incorrect once again. My statement is
absolutely
correct.

http://osmx.com/buying_real_estate.htm


"In addition, foreigners may buy property near the border and the
coastline
in the area referred to as the restricted zone (about 31 miles inland from
the ocean and about 62 miles from the borders) AS THE BENEFICIARY OF A
BANK
TRUST.
The bank holds technical legal title to the real estate and the foreigner
is
the beneficiary of the trust. The bank acts on behalf of the beneficiary
like any trustee must act. The beneficiary may use the ownership interest
in
the trust as collateral for a loan. That interest may also be transferred
by
will or through a typical sale process like other real estate interests.
ALTHOUGH THE FOREIGNER DOES NOT TECHNICALLY OWN A DIRECT INTEREST IN THE
REAL ESTATE, the foreigner's rights to use and deal with the property are
very similar to outright ownership."

You can't own land in San Carlos.

i just called a friend of my wife who goes to mexico every school
break.

apparently, you can own property free and clear except for in the
exclusion zones.

thats what i was told.

Yup. But Skipper was talking about reasonably priced real estate in San
Carlos. That's an exclusion zone.