International Forum... Mitch Creekmore

International Forum…Mitch Creekmore

Last week I was in Las Vegas at the NAR Convention. On the 13th I moderated a panel discussion on working with International Buyers. The panelists were Mitch Creekmore, Paul McBride and Luke Romero. The next 3 blogs will be summaries of their presentations.

Mitch Creekmore is with Stewart Title. He is the co-author of 2 books. One about Mexico and the other about Central America. I will simply give my notes from his presentation.

I. According to Article 27 of the Mexican Constitution, everything except the surface rights to all of the land in Mexico belongs to the government. One should understand that they do not own subterranean or mineral rights when they buy property.

II. Mexico has the right to expropriate property. (Eminent Domain)

III Foreigners can buy in the interior of the country.
A. They must register
B. The Calvo Claruse requires owners to consider themselves as Mexican citizens for the purpose of any court actions.
C. In the restricted zone, 100 Kilometers from the borders, 50 Kilometers from the coast and all of Baja peninsula cannot be owned by foreigners. Remember… In 1810 the USA stole ½ of Mexico.

IV. Ejido grants rights to communities to farm land. No title can be obtained on this property.

V. A Fideicomiso (trust) is used to purchase land in the restricted zone.


David Segrest is a REALTOR in Charlotte NC. His website is http:www.segrestrealty.com .