If you are considering buying a property in Mexico, you have likely heard that you will need to hire a notary. However, many foreign buyers are surprised to find out just how much the notary does throughout real estate transactions here. The role of the notary in Mexico is different from its role in most of Latin America, Europe, or the United States. The notary is appointed by the state governor and must be an attorney with at least five years of experience.
As a buyer in Mexico, the notary is your representative in the process. Consequently, there is usually no reason to hire a second attorney to represent you in a straightforward property sale. The role of notaries in Mexico is most like the roles of escribanos in Uruguay and Argentina.
The notary will perform a title search, prepare all the paperwork, process the real estate transaction, record the new title with the municipality, and collect the taxes and fees.
Be sure to hire a notary who is fluent in English, unless you’re a fluent Spanish speaker. He will serve as your translator, and explain what all those Spanish-language documents are saying.
A Notary Public in Mexico serves as a representative of the Mexican government who certifies important documents (business and civil). They are also responsible for managing and securely storing original legal records. It’s important to note that the office of the Notary Public carries a larger legal responsibility in Mexico than in the U.S. and many other countries. To be a notary in Mexico, you must meet the following requirements:
- Mexican citizen
- At least 35 years old
- Hold a law degree
- Three years of experience working at a Notary Public Office (Minimum)
- Pass a stringent exam
- Drafting legal documents.
- Certifying and processing all of the necessary papers.
- Attesting to the agreement of all involved parties by having them sign agreements.
- Ensuring that the proper documents and permits are in place.
- Advising the buyer of any legal problems or liabilities they may face with the purchase.
- Ensuring the legal title is successfully passed from the seller to the buyer.
- Providing neutral counsel to all parties involved in the transaction.
- Collecting and reporting the fees and taxes related to the transaction.
- Arranging an official land appraisal (in some cases)
- Recording documents in the Notarial Register Book and with the Public Registry
Additionally, an experienced and well-established real estate agent will be able to refer you to the notary they recommend.
Is the Condo lifestyle right for you
If you’re new to a city then condominium living can be a great opportunity to get to know the area and be part of a new neighborhood. Living in the heart of the city or town gives you the chance to mix & mingle with neighbors and get involved with activities.
Time to ditch the shovel and the lawnmower! One of the biggest draws for condominium owners is the freedom from maintaining their property. Whether you’re a young professional with little spare time or a retiree busy traveling the world, condo living means not having to shovel snow, mow the lawn or repair outside structures!
Condominiums provide additional security to keep homeowners feeling safe. Controlled access, guard on duty 12 hrs or 24 hrs.
Condominiums are often located in prime locations that are convenient to city centers, shopping, and restaurants. Life is convenient when distances are measured in “steps to” not “miles from”.