# What is an escritura?



## chicois8

Is it a deed or title to land away from the federal restricted zone and what are the requrements for a ****** to buy in Mexico away from the restrictedzone....


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## RVGRINGO

The 'requirements' are no different than anywhere else; money and the right to be in the country. You will actually pay some 5000 pesos per person to have that right and permission granted. The Notario will take care of that detail, the property search and the registration of the deed/escritura.


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## chicois8

Hola RV, I guess what I am asking does an escritura take the place of a fideicomiso or is it the actual deed to the property?


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## sparks

With a fideicomiso the bank has the title. If not in a restricted zone you have the title.

Escritura = Deed = Title


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## conklinwh

The escritura is the deed/title. There was a point glossed over quickly above and that is registration.
The process is that you need a permiso to buy. When you have a deal you both go to a notario that is part lawyer/part official. That person is supposed to verify everything and handle the process. However, there is a lot of land in dispute in Mexico and a couple notarios have been caught issuing escrituras without registering them. When you get your escritura, make sure that has attached the registration so that you are the recognized owner.
There is now a separate title search firm in San Miguel, I guess to research the existing escritura and whether any counter claims.


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## TundraGreen

conklinwh said:


> There is now a separate title search firm in San Miguel, I guess to research the existing escritura and whether any counter claims.


A little bit of a digression...
The issue of title insurance is an interesting one. I have a long article that compares the legal systems of Mexico and the US vis a vis titles. It explains why title insurance is really necessary (and somewhat of a scam*) in the US and why it is not necessary in Mexico. However, many title insurance companies are taking advantage of US buyers used to buying title insurance and so they are selling it for Mexico properties now.

In Mexico there are three levels of recourse for problems with the title: the seller, the Notario Publico and the government office that registers titles. In the US, the laws don't really make anyone responsible for problems if the title is not clear, and hence the growth of the title insurance industry. Of course, it is always better to make efforts to avoid problems in the first place, true in either country.

I have the article on my computer at home. I am currently traveling, but if anyone is interested in the article, send me a private message and I will send it when I get home in a week or so.

Will

*I use the word scam because 95% of the fees collected for title insurance go to the administration. Unlike other insurance, very little of the cost is used to pay for claims. Essentially the title insurance company knows there is no risk before they issue the policy. If there is a problem, they don't issue the policy. That is changing a little right now. With all the foreclosures, title disputes are a big issue at the moment in the US.


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## TundraGreen

RVGRINGO said:


> The 'requirements' are no different than anywhere else; money and the right to be in the country. You will actually pay some 5000 pesos per person to have that right and permission granted. The Notario will take care of that detail, the property search and the registration of the deed/escritura.


When I bought, I had to go to the Secretaria de Relaciones Exteriores myself and pay the fee for a foreigner to buy property. The Notario Publico did not do that part for me.

Will


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