Tag: mexican law

Real Estate Procedures in Mexico

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Real estate procedures are very different in Mexico, than in the USA or another country. There is no “escrow procedure” or “Title” companies, nor “home inspections” before you buy. Whether you buy directly from owners or through a real estate company, you need to have a good understanding of the Spanish language and Mexican law. Most of the closing costs will fall on the buyer. Deposits usually are made directly to the owner, not to an escrow account. Buying property in Mexico is a process unfamiliar to most and there…

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10 Reasons why you should hire an attorney when you purchase property in Michoacan

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By Liliana Elena Gonzalez Unless you’re significantly experienced in the buying process, you speak Spanish fluently and you are familiar with legal paperwork, it will be wise to hire a real estate lawyer. Legal representation will provide peace-of-mind (someone looking out for your interests). Here are ten reasons why: 1.- There is no specific law for real estate transactions in Mexico. – Therefore, there is no obligation to write a purchase agreement or “Attorney Review Period” in an offer. 2.- There is no mandatory education or test to become a…

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What you should do if you have a property for rent or lease in México?

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By Liliana Gonzalez @mexatua If you own property in México and you need to rent it out, I have 7 suggestions to protect you in case something goes wrong (renters not paying rent on time, or not paying at all, causing damage to your property or building, fixing anything without your permission, causing problems to neighbors, you name it).Here are my suggestions: 1.- Have a good rental agreement in Spanish, prepared or reviewed by an attorney. If you are working with a real estate agent, make sure he/she is a lawyer or TSUCI…

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Foreigner´s Will in Michoacan

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Mexico´s formal name is Estados Unidos Mexicanos (United Mexican States). The United Mexican States are a federation of thirty-one free, sovereign, autonomous and independent states, and the Federal District. All states have the right to create their own constitution. Mexico City is the Federal District, seat of the government (powers of the Union) and capital of the United Mexican States. The city is coextensive with the Federal District territorially and administratively. If the federal government moves to another city, the Federal District would be transformed into another state of the…

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A Big Step Forward in the Real Estate Industry in Mexico

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By Liliana Gonzalez I am so happy, and absolutely overwhelmed with emotion! Again, I am feeling butterflies in my stomach just like I felt when I got my attorney’s license in 1979. I have got my Real Estate’s degree! Last year in December, when I returned home from the 2007 NAR Conference and Expo, I was still excited about the window of opportunity that had just opened in my Real Estate career. The first step was joining AMPI Morelia (Profesional Association of Realtors) in December. One of the advantages of…

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