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US Style Title Insurance and Escrow Services in Mexico
Mexican Real Estate Transactions
The land transfer and "notario publico" process in Mexico differs significantly from the U.S. system. In Mexico, a notario (or notary) acknowledges and certifies a property transfer, which provides "judicial certainty" as to the authenticity of the process. Without title insurance, a buyer may find it very difficult to recover monetarily for errors by a notario publico in the transfer process. Public registries in Mexico do not provide monetary indemnification in the event of loss due to a title defect or errors. As in the U.S., title insurance is an effective tool to mitigate risk in Mexican real estate transactions.
Licensed and regulated by multiple state agencies, Thomas Title & Escrow provides U.S.-style title insurance policies backed by major American title insurance companies and works closely with buyers, sellers, notarios and bankers to facilitate smooth real estate closings.
Benefits of U.S.-Style Title Insurance in Mexico
- Policy is an American policy enforceable in the U.S.
- Protects against recording errors, liens, encumbrances, encroachments, taxes and boundary line disputes, plus against fraud, misrepresentation, impersonation, secret marriages, incapacity of parties and undisclosed heirs.
- May enhance the marketability of property and expedite the closing process.
Benefits of U.S.-Style Escrow Services in Mexico
- Escrow agent controls the flow of funds between the parties to a real estate purchase.
- Escrow agent is an independent third party with fiduciary duties to buyer and seller.
- Disbursement procedures are formalized by buyer, seller and escrow agent in a written agreement.
- All escrow funds remain in an FDIC-insured U.S. bank until disbursement.
Link to the public registry in the state of Sonora, MX here.
Learn more about the process of buying and selling Mexican real estate here.