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Mexican Law/Selling property in Mexico

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Question
I inherited property in Jalisco, Mx. My father did all the paperwork so that it be put in my name.  The property was a store but has been vacant for over 15 years due to the structure damage. It needs to be demolished and rebuilt. So, I would rather sell it. But where do I start to find out the value of the property? And how do I advertise it for sale.

Answer
Dear Sandra,

You have an obligation to pay Property Tax every year on your property. (Impuesto Catastral). The local "Catastro" (the office in charge of the local property taxes) has an accessed value on your property. In some municipios, the value is "real" and in some municipios the value is less than the real market value. Using the "valor catastral" (accessed value by the Catastro) and asking the locals about the relation between "valor catastral" and market value, you can get a good idea of the value of your property.

If the property is in an urban area, there are probably real estate firms who can help sell your property. If not, the best course of action is a "for sale" sign and a local phone number.

Hope this helps...

Regards,

John Lee Ward
Córdoba, Veracruz

Mexican Law

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John Lee Ward

Expertise

I can respond to any question related to Mexican Law and common business practices in Mexico. I can also compare and contrast between the American and Mexican legal systems.

Experience

Licenciatura en Derecho from the Universidad del Golfo en Cordoba, Veracruz. (Cedula Profesional No. 5713238) Maestria en Derecho from the Universidad de Cristobal Colon en Veracruz, Veracruz. (Cedula Professional No. 6358321) Currently a Candidate for a Doctorado en Derecho from the Universidad de Cristobal Colon. 5 years of litigation experience in Mexico.

Education/Credentials
Bachelors in Electronic Engineering, California Polytechnic State Univ. Juris Doctor, Concord University in Los Angeles Licenciatura en Derecho, Universidad del Golfo, Mexico Maestria en Derecho, Universidad de Cristobal Colon, Mexico Doctorado en Derecho (In Progress), Universidad de Cristobal Colon, Mexico

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