As a trusted voice in Puerto Vallarta real estate, we are frequently asked questions about the fideicomiso structure when purchasing real estate in Mexico. A fideicomiso, or bank trust, is a secure way for foreigners to buy property in Mexico in beach areas like Puerto Vallarta and the surrounding region. But beyond just ownership, a fideicomiso offers some fantastic benefits when it comes to planning your legacy. Let’s look at some of the advantages.
What makes a fideicomiso beneficial for legacy planning?
First and foremost, it provides peace of mind. When you set up a fideicomiso, a Mexican bank holds the title to your property in trust for you, the beneficiary, giving you all the rights to use, sell, lease, or pass on the property. It’s a legally recognized way for foreigners to own property in Mexico, so you don’t have to worry about complicated ownership restrictions.
Smooth transfer to heirs
One of the biggest advantages for legacy planning is how a fideicomiso simplifies transferring your property to your heirs. Because the trust is a legal entity, you can simply name your beneficiaries directly in the trust agreement. This helps avoid lengthy probate processes and ensures your loved ones inherit your property quickly and efficiently.
Flexibility and control
You can update your beneficiaries at any time, cancel the fideicomiso if you sell the property to a Mexican citizen, or even transfer it to a new foreigner owner. This flexibility means your estate plan can adapt as your circumstances change.
Protection and security
Since the bank acts as trustee, your property is protected under Mexican law, giving you an added layer of security.
A fideicomiso is a smart, flexible, and secure way to purchase a home in Puerto Vallarta while ensuring your legacy is protected and easily passed on to your loved ones. Ready to learn more? Our expert team can help.
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