Question About real estate law in Mexico.?

Question

My husband is selling a house in Mexico and we have already a signed offer with a buyer who will pay on May 12. The beneficiary of the house is his son. We tried to change it with me as beneficiary but it's going to take months so we did not. Anyway, the question is----the real estate wants my husband to change his will that will specify me as the inheritor of the house in Mexico. We are currently in the US. Is this a common procedure?

If my husband dies before the May 12, is our deal with the buyer considered void...in which case, the son, who is the beneficiary can do whatever he wants to do with the house?

Thanks.

Answer 1

I do not understand, if you are selling a house you need no beneficiaries in order to sell it.   It will be very important to see the deed and find out exactly how is the ownership of the house, where is the house in Mexico City or in the forbiden area for foreign investors (50 km from the shores of Mexico).  Sometimes if the husband dies, his 50 percent goes to the wife and the wife gets the 100 percent ownership.  Sometimes if the husband dies his 50 percent goes to his beneficiary.  You have to mention all these important points. Thank you.

Answer 2

There are indeed many issues involved here making an accurate answer impossible. Is your husband a Mexican or a foreigner? Are you a Mexican or a foreigner? The son? Is the son of legal age or a minor? Is it in the protected zone with a bank trust in place? Was all the legal paperwork filed correctly when he bought it?

The only part I can answer firmly is the last one. If your husband dies BEFORE the sale is finalized, and the property is in his name, the signed deal you have now is void. I have been in real estate in Mexico for 12 years, so I have experience in this. It is not a guess.