What the heck is “Terrenos Ganados al Mar”?
Okay, so you have experienced the magic of San Carlos and have decided to secure your niche and buy property on the waterfront. After all, where else can you live the dream of owning a luxury beachfront home in North America without being on the Rich and Famous list?
You are aware of Mexico’s Federal Zone which applies to waterfront property and you are familiar with the process of acquiring the usage rights of that Zone, no big deal. But did you know about the areas known as “Terrenos Ganados al Mar” (Land Gained to the Sea) that can exist between the Federal Zone and the deeded waterfront properties?
The Federal Zone (pertaining to the coastline) is the 20 meter deep strip of firm and usable land that borders beaches or natural deposits of marine water. The usage rights to the Federal Zone can only be acquired through a concession (or permit) by which the exclusive rights to “use and enjoy” the Federal Zone are granted. There are initial application fees and yearly renewal fees to incur for that privilege; but most of us feel it’s a small price for the advantage of living on the beach.
The “Terrenos Ganados al Mar” is a portion of land that may exist between the Federal Zone and your dream home on the beach. Both the Federal Zone and the “Terrenos Ganados al Mar” are considered public property, which means that the Federal Government is the owner of the land between you and the water!
The rights to the “Terrenos Ganados al Mar” can be acquired either through a concession (a permit similar to the Federal Zone’s) or via a public sale (auction). In a public sale, the price for the land is determined by an official appraisal and you will actually take direct title to the land, converting it into private deeded property. As great as it may sound to expand the size of your waterfront lot, it does represent a time consuming and arduous process. There are several phases of cumbersome paperwork which must be done correctly so it is important to consult with an Attorney and Surveyor who have the proper experience and knowledge.
Remember that unlike the Federal Zone, “Terrenos Ganados al Mar” does not apply to all beachfront properties, so it is a good idea to check with your Realtor before proceeding with a purchase.
by Norene Sullivan, Realtor
Coldwell Banker Encantado Realty
Jim Cramer, investment guru and CNBC’s host of “Mad Money”, told his viewers to consider buying property in Mexico, saying “real estate in Mexico, that’s easily accessible to Americans, represents a great buy”.
Cramer announced to his audience that he had already purchased three properties in Mexico within the last few weeks.
