Real Estate & Legal Topics

Before You Sign on The Dotted Line: Questions For Your Real Estate Attorney

]When you are purchasing property in a foreign country, it is difficult to know who to trust and rely on for legal real estate advice. During the closing process of your real estate purchase ensure you have a qualified real estate attorney here in Mexico to support you through the process. When you search for an attorney, there are some important points to consider

  • Is the attorney established in the area and do they have a permanent office with a full support team that is available for your questions or legal issues at any time?
  • Make sure the attorney is representing only you, the buyer, some attorneys receive referral fees from other service providers, you want an attorney that is only looking out for your best interest.
  • Do they have real estate specific law experience? How many years? Many attorneys cover all types of legal services. Choose one that specializes in real estate law.
  • Are they a member of a recognized legal association? For example the Canadian or American Bar Association.
  • Does the attorney do a comprehensive title search, confirm compliance and ensure taxes and fees are paid by the seller? They need to verify there are no liens or encumbrances on the property. Be sure they do not only rely on the notary public to verify the information. The notary does not research problems or history of the past ownership transfers.
  • Your attorney should have a fully insured trust account operated by a chartered bank. Mexican lawyers and real estate agents can not legally hold money in trust or offer escrow services.
  • Will they follow up with certified documents to confirm the property title is registered and all taxes and fees are paid in full? Although the notary public registers the title, human errors can happen. You want proof that the property has been transferred to your name.
  • The attorney should provide you with a title guarantee at no extra charge. The title guarantee is transferable in the event you sell your property in the future.

 

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