Home  FAQs Can I use an Escrow Company?
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Can I use an Escrow Company? |
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Wednesday, 31 May 2006 |
Escrow as it is known in the United States is not used in Mexico, and real estate salespeople are not licensed or regulated as they are in the United States, so be careful of making any deposits up front. Escrow services are available through the Mexico Division of Stewart Title, Houston, Texas.
Real estate transactions in Mexico are "closed" by a Notario Publico, an official, highly respected government lawyer who acts as a neutral intermediary. Among other things, the notary is responsible for formalization of the final real estate contract, collection of transfer and capital gains taxes and recordation of the transfer with the Public Registry. The notary is not your lawyer, however, and as with any investment, you may want to seek independent Mexican or U.S. legal counsel before proceeding.
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