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Guaranty of Title

MEXLAW > Guaranty of Title

Buying real estate in Mexico can be a daunting experience, we have all heard stories in the news about foreigners losing their Mexican property. These unfortunate stories could have been prevented if they had purchased their property through proper legal channels.

 

The majority of foreigners who buy Mexican real estate will receive a clear title deed on the property. However, some foreigners neglect to have a lawyer perform due diligence and may never receive the title deed. Foreigners risk losing their investment if they do not hire a reputable law firm to represent them and guarantee they receive the title deed on the property.

Due diligence includes, among other investigative processes, verifying:

Chain of ownership

Ensuring the property can legally be sold

There are no claims, liens or encumbrances against the property

Verifying the legal owner

All utilities and services are paid up to date

Predial (property tax) is paid up to date

Cadastral Certificate (official survey of the property)

Environmental, zoning, land restrictions of use

HOA regime

Proper manifestation of renovations

A few of the scenarios that have caused a foreigner to lose their Mexican property, all which could have been detected and prevented if the buyers had hired MexLaw to complete the real estate transaction:

The seller did not have the legal right to sell the property or family members of the original landowner has a claim against the property.

The property has a construction or developer lien against it. If the new development is still registered to the developer, it is at risk of lien or seizure.

The property is registered as Ejido land. An Ejido property is not private property, it is communal land, and Mexican nationals have rights of possession, but not a deed. It is illegal to sell the property to a foreigner and may result in repossession by the Ejido.

Real estate fraud.

Potential buyers are led to believe they should purchase title insurance from a company typically based in the US or claiming to be an American title insurance company; this is not necessary. By choosing a trustworthy international law firm in Mexico who provides a title guaranty you can rest assured your investment is safe and secure. Due diligence on the part of our legal team will secure title without purchasing title insurance.

 

The notario is obligated by law to ensure the title deed is transferred and registered to the purchaser in the Registro Público de la Propiedad. However, MexLaw will follow up step by step to ensure there are no human errors and that your property is registered in your name and present you with a clear title deed, guaranteed.  

You will only have to provide us with the required documents – leave the rest to us!