Oaxaca is a state rich in culture, traditions and ecosystems that attract thousands of tourists each year, it is a state that offers multiple investment options in real estate, being a very profitable option for local and mainly foreign investors. In Oaxaca there are different types of properties that you should consider and that your real estate agent should advise you before making a formal purchase offer.
If you are close to acquiring a property in the state, here we show you the different types that you can find and their characteristics.
Private: according to article 4 of the first chapter of the Law of assets belonging to the State of Oaxaca, those that currently belong to it as property or that in the future will enter into its patrimony are property owned or owned by the State Government. To the Law and vacant property. And, according to article 18º in the third chapter of the Private Domain Real Estate, the private domain assets belonging to the State patrimony, can be the object of all the contracts regulated by common law.
The owners of said private property have full legal power, to use it for the purpose they wish, either for their leisure or to give it a purpose of economic exploitation.
Ejidal: according to article 43 of the Agrarian Law, lands belonging to ejidos and therefore subject to the relative provisions of this law are those that have been endowed to the ejido population center or incorporated into the ejidal regime. That is to say, these do not have a single owner, they belong to the government, since they are lands lent to peasants, who have permission to work them. Likewise, in article 45 of the same, it is mentioned that these may be the object of any association or use contract entered into by the ejido population nucleus or titular ejidatarios.
It is important to note that ejido lands have their origins in the Mexican Revolution, this to ensure that the neediest rural population had access to land to cultivate and live. With the passage of time, the agrarian law has undergone reforms in order to benefit the peasants, until today it has fewer restrictions, thus allowing the peasants to make use of the land for free sale in the market.
Comunal: they are lands that do not belong directly to the exploitation and in which communal rights apply. These are owned by the state, autonomous community or neighboring entities. Its control is exercised by the assembly of community members, elected by the traditional authorities of the community.
If you are planning to invest in a property in the state and you are not sure what type it is, contact a real estate expert to have the information on the property, you can contact us to help you throughout the buying and selling process, SILMÉXICO is an expert real estate company that has all the necessary areas to carry out a successful sale.
If you are a foreigner and want to invest in Mexico, contact us to find out about the processes for acquiring real estate in Mexican territory, as well as the property options that we have exclusively for purchase and rent.
If you are an investor, we have the best real estate consultancy in Mexico, we create trusts, companies and strategies to successfully carry out a real estate investment.
Visit our website and contact us.
LLMI. Jessica Hernández