Foreigners can buy oceanfront property in Mexico legally.
Leasing is another option, but this would be from the private owner not the government.
Can Canadian citizens buy property in Mexico? Yes.
Can US citizens buy property in Mexico? Yes.
Foreigners in general can buy private property in Mexico.
Farmland is not private property.
Farmland is the property that only natural born Mexico citizens can own.
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Restricted zones in Mexico.
If the property is located in the restricted zones than a bank trust is required. The restricted zones are borders, beach and rivers. 100 kilometers from the border. 50 kilometers from the beach.
When the property is put into a trust, it does not become a part of the banks assets. The bank is only the administrator of the trust.
On the trust, beneficiaries are named. If there were no beneficiaries named, than a judge order or court order is enough to claim heredity. In any case, the bank will not keep the property. Unless there was a mortgage that was not paid.
Check out the video below for an in depth explanation of how foreigners can own real estate in Mexico.
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