general
1. How large and how many residences will be a part of the The Residences Yucatan community?
The Condominium Regime is 66 hectares (163 acres) which includes the hotel component with 40 keys, the residential component with 72 residences, and the common areas. The Residential Subcondominiun extends 31 hectares (77 acres).
The residences surrounding the wellness golf will be four and five bedrooms and the residences surrounding the recreational lake will be two and three bedrooms.
2. How long will it take for the residence to be move-in ready?
After signing the Promise to Purchase Agreement and the confirmation of the earnest money deposit, the two- and three-bedroom residences are delivered ready to move into within 12 to 18 months, and four- and five-bedroom residences within 18 to 24 months.
3. Is the furniture package included in the purchase price of the residence?
No. The furniture package is considered separate from the purchase price of the property. The purchaser will have the option to choose whether they want their residence with:
- Chablé Furniture Package – complete with all the FF& and OS&E curated by Chablé (turnkey).
- Yucatan Package – furniture and equipment, not including art or accessories.
- Unfurnished – includes basic equipment, fixtures, but not limited to refrigerator, stove, range hood, dishwasher, sink, etc.
4. Can modifications be made to the architectural design of the residence?
During the due diligence period, the buyer will have the opportunity to submit changes for consideration to the Developer and Chable that do not modify the structure of the residence. During this period, the buyer may decide whether to incorporate additional pre-approved elements (“add-ons”) to their residence, such as a jacuzzi, grill, fire pit, etc. depending on the floorplan they are purchasing.
Modifications and add-ons are separate from the purchase price and are at the purchaser’s expense.
5. Who am I purchasing my residences from?
The Company selling the property is Consorcio Altavista y Revolución, S.A. de C.V., who has developed in the southeast of Mexico, Yucatán.
6. Are The Yucatan Residences branded?
Yes, by the Chablé brand. The Chablé Yucatán hotel (Grand Luxury Hotel) has been recognized as Prix Versailles 2017 and the best design in the world by UNESCO. The hotel has also been named on the acclaimed 50 Best list multiple years, being recognized as the best hotel in North America and No. 16 in the world in 2024; and at the same time receiving two Michelin keys.
Chablé also operates Chablé Maroma hotel, located in Punta Maroma on the Riviera Maya, which has also received a Michelin key. Chablé has two more destinations in the under construction, Chablé Valle de Guadalupe in Baja California and Chablé Costalegre in Jalisco, both with residential components.
7. What benefits do The Yucatan Residences homeowners have in Chablé Yucatan hotel and amenities?
Homeowners will benefit from preferential rates, subject to availability, while on property. These benefits extend to the spa, restaurants, kids’ club, room nights, private ceremonies and sessions, wellness golf and more. Homeowners will also have exclusive events, solely for their enjoyment along with their neighbors.
8. is there a Homeowners Association that maintains the common areas of the The Yucatan Residences community?
Yes. The Homeowners Association (HOA) will oversee all operational aspects of the Residential Subcondominium Regime, the maintenance of its common areas and the services provided meet the Chablé standards.
9. Are there property management and other homeowner services available in The Yucatan Residences?
Yes. Through the HOA’s association the Chablé Yucatan homeowners will have access to the hotel’s services as well as a-la-carte services.
- Hotel services / concierge services
- A-La-Carte Services
Homeowners may have the option to participate in a rental program.
10. How much are the HOA dues annually at The Yucatan Residences?
The annual HOA due will vary in relation to the property's pro-rata share and the size of the residence.
HOA dues are determined at the annual assembly and are subject to an annual increase in accordance with the Consumer Price Index.
11. How are utilities, such as water, sewer, electrical and other services, provided to The Yucatan Residences community?
The Yucatan Residences has municipal water supply, and each residence has its own 2,800-liter cistern.
The Yucatan Residences wastewater treatment system is managed by the HOA and provides the highest level of water treatment available through its own wastewater treatment plant.
For electricity, telephone, and data services, as well as other necessary services, the buyer must contract directly with local providers.
12. How far is the nearest airport from The Yucatan Residences?
The closest airport is Manuel Crescencio Rejón International Airport in Mérida. It is located approximately 35 kilometers (22 miles) north of The Yucatan Residences, and without traffic, the journey takes about 40 minutes.
real estate
1. Can foreigners own real estate in Mexico in fee simple?
Yes, a foreigner can own in fee simple title real estate located in Mexico except for real property located in an area known as the “Restricted Zone.”
2. What is the “Restricted Zone”?
The Mexican Constitution prohibits direct ownership by foreigners of real property located in an area of 50 kilometers (31.06 miles) of any ocean and 100 kilometers (62.13 miles) of the international border. This is the area colloquially referred to as the Restricted Zone.
3. Is The Yucatan Residences located in the restricted zone?
Yes, The Yucatan Residences are located within the Restricted Zone; it is 48.27 kilometers (30 miles) from the ocean.
4. Can foreigners own real property in The Yucatan Residences?
Yes.
- For residential purposes: indirectly through a fideicomiso (i.e. irrevocable real estate trust agreement with a Mexican bank as trustee) with prior authorization from the Mexican Federal Government (Ministry of Foreign Affairs).
- For commercial or business purposes: by incorporating a Mexican corporation (even if it is 100% foreign owned) with authorization from the Mexican Federal Government.
5. What is a fideicomiso?
The fideicomiso is a real estate trust agreement in Mexico that is set up at the request of a foreign purchaser by a Mexican bank or institution as trustee to hold title of a residential property. The trustee is obligated by contract and law to hold title to the property for the benefit and enjoyment of the beneficiary (purchaser) subject to the terms and conditions of the trust agreement and Mexican law.
6. Is my property deed separate from the fideicomiso?
No. The fideicomiso is the entity that evidences title to the real property. The trustee of the fideicomiso is the owner of record of the property for the benefit of the beneficiary. The fideicomiso is granted title in a “Public Deed” before a Public Notary.
7. Who is the Trustee of the fideicomiso?
Per Mexican law, only banks in Mexico and certain regulated financial institutions may act as trustees of fideicomisos in the Restricted Zone.
8. Who is the owner of the real property in a fideicomiso?
The “Owner of Record” is the bank or financial institution acting as trustee, but solely in its capacity of trustee of the fideicomiso. However, possession, use and enjoyment are granted to you as the beneficiary of the fideicomiso.
9. Who can be a beneficiary of the fideicomiso?
- Individuals
- U.S. entities such as corporations, LLCs, LLPs etc.
- Trusts
10. Who is the Public Notary and what is their role in real estate transactions?
A Public Notary (Notario Publico) is a certified attorney-at-law who is granted a patent by the State Government to document and attest real estate conveyances and other legal acts in Mexico. Notaries are an essential component of a closing and transfer of title process. Among their duties, Notaries confirm the authority of the parties, verify ownership, document the terms and conditions of the transaction, and, in some cases, collect capital gains and other taxes and fees associated with such transfer.
