| | Capital Gains on Real Estate in MexicoTaxation on the difference between cost and selling price of a real estate property in Mexico. Jaques-Edouard Beaulne LL.B provides us this authoritative article on capital gains. |
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According to several notarios and one lawyer the law requiring residency has now been changed to 5 years of residency before you can avoid the capital gains tax on the sale of the property.
I'm still looking into this more thouroly but I do know 2 Americans that are now waiting to sell their property because they found out the same information from other Notarios.
So at this time before you decide to sell I advise that you speak with a Notario and make sure that you qualify for the exception to paying capital gains or you may have to pay.
Thank you and I hope this helps those in planning their real estate transactions.
James Glover
www.bajarealestateandconsulting.com
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