Types of Property Title in Mexico
Ejido titles are very simple and usually only consist of one or two pages. This is the only type of title we cannot promote for sale. In order for us to sell this type of property, you will need to escalate your title to Titulo de Propiedad by going through the ejido and CORETT. You can only sell your property to other Ejidatarios. As a buyer, you will not find this type of property listed in the Vallarta MLS or in the AMPI Flex MLS system because it cannot be sold to foreigners.
Ejido land is esentially a cooperative of owners of large sections of land in Mexico. It is layed out into two sections, one is private use, which is used for residential space, the other section is common areas. This space can be used for the common good of the Ejido.
Titulo de Propiedad
This title is the first private title since being converted from an ejido title. Titulo de propiedad gives you the ability to sell the property to anyone including foreigners. We can promote this property for sale.
A contract is generally for a piece of property that does not currently have a deed such as a pre-construction condo. It could also be for time-share. We have to review each contract on a case by case basis to see if we can promote it for sale. Another type of contract is a business listing, where you are selling the business assets in Spanish this is called a Trespaso.
The most common form of title is an escritura. This deed can range from several pages to many pages depending on the property. This is the easiest title to work with because it is the most complete. In Puerto Vallarta only Mexican nationals can own property through an escritura because Puerto Vallarta is located within the restricted zone.
Mexican nationals, and foreigners who purchase property outside of the restricted zone are allowed to own their property through an escritura.
The escritura includes all of the important information about the property including, who the seller of the property was, who the new buyer or owner of the property is now, the legal description of the real estate, the cadastral number, how much the purchaser paid for the property and more.
A fideicomiso is a trust that holds the prroperty title. This is especially useful for non-Mexican nationals who want to own property within the restricted zone. It is a very clean way of owning property and provides a lot of benefits. We promote this type of title all the time especially here in Puerto Vallarta.