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Richard Mardock, Snell Real Estate Company and Engel & Vokers, Los Cabos, Baja, Mexico

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The end of the Fideicomiso? New laws discussed but a constitutional change would be required...

Mexico House OKs Loosening Foreign Land Ownership

 

 

The lower house of Mexico's congress voted Tuesday to loosen longstanding restrictions on foreigners buying property along the coast and the nation's borders, a proposal that drew stiff criticism from some quarters.

The measure, which passed 356-119 in the Chamber of Deputies, still needs approval from the Senate and a majority of the country's 32 state legislatures to become law.

For decades, foreigners have had to use real-estate trusts or Mexican front companies to buy beachfront properties, because Article 27 of the constitution prohibits non-Mexicans from directly owning land within 31 miles (50 kilometers) of the coast and 62 miles (100 kilometers) of the nation's borders. The trusts and front companies have provided a lucrative income for banks, lawyers and notaries who are required to operate them, and the extensive paperwork has discouraged many foreigners from buying.

The change, sponsored by Congressman Manlio Fabio Beltrones of the governing Institutional Revolutionary Party, would allow foreigners to directly buy ocean-front property for residential use, but not for commercial projects.

Such proposals have been made before, but not by figures as influential as Beltrones, the PRI's congressional leader.

"This is about eliminating the middlemen who, through trusts, corporations and front men, have made a living off the constitutional ban," Beltrones' office said when he submitted the bill earlier this month. "It is a question of encouraging tourism investment and creating local jobs."

The Union of Indians and the Farmers' Force, a farmworkers group, criticized the proposal Tuesday, saying it would "give free rein to foreigners to legally buy up the best land, and encourage robbery and financial and real estate speculation."

"This would result in the foreign colonization of the country," the groups said in a statement.

Those are strong sentiments in a country frequently invaded by foreign powers in the 19th and early 20th century. Mexico set up the restrictions to ensure national security and avoid the creation of foreign enclaves like the one that grew up in a former Mexican province known as Texas, where the foreigners eventually rebelled and split from Mexico.

"For historical reasons, it was considered risky to allow foreigners to establish themselves permanently on the coast and the borders," according to Beltrones' proposal, but it says "the conditions that led the Constitution to limit such purchases have been overcome."

Arguing for the change Tuesday, Beltrones said, "Apart from ensuring legal certainty over property rights, this would financially benefit the coastal town government, given that it would make tax payments, like property taxes, easier to collect."

Kevin Graham, a Texan who runs the Costa Maya Living real estate firm in the Caribbean beach town of Mahahual, said some potential buyers are put off by the prospect of not being able to hold direct title to beach properties.

"I feel, with all the doubts they have, it's slowed the market down for foreign investment here," he said.

Federico Estevez, a political science professor at the Autonomous Technological Institute of Mexico, also cited the benefits to foreign investment by simplifying ownership for foreigners.

"This is to bring the law up to date, because basically it's going on anyway, but with all these foul distortions of having to pay people off," he said.

Noting that Mexico has been seeking more foreign investors, Estevez added: "You want their money, keep them here."

 

Reprinted from ABC News....


Posted: Thursday, April 25, 2013 11:39 AM by Richard Mardock

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Lubiyalaisi still points out, spanish football " Europe is in in collective agreement respect most extreme " . He is affirmative: "Player people do not want more money, want a contract to get fulfilling only, the past, can get pay back with prospective debt now, the player of any team can get equal treatment. The player of any team can get equal treatment..

Respect of professional football alliance expresses " cannot understand " made strike decides player association. In statement of a government, this orgnaization divulges both sides had undertaken is as long as the negotiation of two months, "Respect of professional football alliance acts on the manner of active dialog all the time, adopted two to have historical sense quite to Spanish football and enough responds to a player people the measure of the requirement " .

This two big step include what will pass on July 12 this year to establish club finance self-adjusting mechanism and will pass on August 3 found go bankrupt assure fund agreement, two economy that all aim to make sure each club fulfills pair of players are affirmatory. Look in player association however, alleged build go bankrupt the agreement that assures fund only by professional football alliance " one-sided " reach, and still far " insufficient " protective player interest.

Player people stand this in player association at the same time. Team leader of Spanish nation group blocks Xiliyasi strong district head represents language: "Lubiyalaisi spoke the aspirations of our everybody, we will support him after all stoutly. " he still urges both sides to undertake talk and coming to an agreement as soon as possible, in order to make league matches is able to spread out smoothly. "But with at present this circumstance, I can make sure nobody can play the game. I can make sure nobody can play the game..

2011 - 2012 sports season armour league matches launchs first-run have a contest on August 21 formerly on the west. If the difference between alliance and player association is couldn't get,solve in time, on the west armour will halt competition because of the strike the 4th times. (be over) 2011/08/12 06:03

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