Avoid Real Estate fraud in Mexico


Avoid Real Estate fraud in Mexico

To Our Clients and Friends:

If you are interested in purchasing real estate property in Mexico, we recommend that you verify and assure that you have satisfactorily reviewed the following items:

1) Location of the property (street, number, subdivision, or any other data that identifies the property);

2) Total surface area of the property; (land and construction, if any)

3) Description of the current use given to the property, which is obtained by the Zoning Permit;

4) Process a Phase I Environmental Study to detect any potential environmental issues and, in its case, a Phase II. This recommendation is aimed to industrial properties;

  • 5)  Carry out a Land Survey; 

  • 6)  Review, in its case, any agreements 


executed with respect to the property that may be in effect and that grant the use of the property to a company or individual, other than the owner or otherwise may

affect the transaction (i.e. leases, bailments, among others);

7) Verify the existence and description of easements (in its case);

8) Available public services on the property and last paid invoices (water, electricity, gas, sewage, etc);

9) Request proof of property tax payment (current year);

10) Description of any mortgages/liens that may affect the property;

11) Verify and, if applicable, analyze the existence of any legal procedure of an environmental nature in which the premises are involved.

12) Information that evidences the legal ownership (deed of property) and the power of attorney of the representative of the owner, in its case;

13) Title Search of the property for the last 10-15 years that includes a feasibility study.

The Title Search is conducted in order to verify that clear and free title to the property is available and that no mortgages/liens or any adverse issues exist with respect to the property or should that be the case, report the existence of a mortgage/lien or any other adverse situation that may represent an issue prior to the closing. Without a Title Search you should not purchase real estate in Mexico because you do not have the guarantee of being free from problems with respect to the ownership, possession and domain of the property.

Should you require additional information, please contact us by telephone at 01152 (664) 686 5557, (619) 498 9282, fax 01152 (664) 686 5558 , by mail to PO Box 767 or by e-mail at: manolo@paseroabogados.com or pasero@paseroabogados.com


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Pasero Abogados provide an effective solution to your needs.

Tijuana B.C., Mexico

Blvd. Agua Caliente 4558-403

pasero@paseroabogados.com

(+52) 664 686 5557

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ADDRESS

Blvd. Agua Caliente No. 4558-403
Col. Aviacion C.P. 22420

Tijuana, B.C. Mexico.

PO Box 767 Bonita

OfFICEs

Monterrey, N.L.

Mexico City

Queretaro, QRO.

San Jose del Cabo, BCS.

CONTACT

E.E. U.U. Tel.(619) 498 9282

MEX Tel. +52 664 686 5557

MEX FAX +52 664 686 5558