Subdivisions: Purchasing property in a subdivision is possible by acquiring a fee simple interest or the beneficiary interest in a trust, depending on the location of the property. This permit is registered at the Public Registry of Property for the jurisdiction in which the property is located.
New Construction: Building a residence is possible by acquiring a construction permit from the local city government (municipio). A builder must obtain title to the parcel of land, obtain a construction permit and hire a building contractor. Resale Property: Purchasing resale property is possible by acquiring fee simple interest or the beneficiary interest in a trust, depending on the location of the property. Condominium: Purchasing a condominium is possible by acquiring an interest in a properly recorded condominium regime. A condominium regime is a Mexican legal notary public document that is not legally obtainable until construction is complete. As a word of caution, buyers are commonly asked to make nonrefundable deposits to fund construction. This practice entails significant risk considering that buyers must make a payment without the existence of the condominium regime designed to protect the buyer. Information provided by Arizona Association of REALTORS |