Have you just acquired a property and don’t know how to put it in your name? In this article you will find the answers to your questions. First, you should know that the procedure you need to do is to deed a piece of land. Then you should know the requirements to deed land you need and the steps to do it. But you can calm down, all that information can be found in this article.
What are the Requirements for Requirements to Write a Land in Mexico?
To validate the acquisition of a property or land, you will need deed the sale of the property, since it is the document, by law, that guarantees that the land passes from one person to another.
But we understand that it can be difficult to know how you will carry out this procedure, so here we explain it in detail, starting with the requirements to deed land in Mexico.
The first thing you should know is that there are different ways to acquire land, but the most common, and the ones that we will discuss in this article, are the acquisition by financing or by direct deal.
Therefore, the requirements to deed a land that we are going to present to you are for each of these two cases.
Requirements To Deed A Land: Purchase by Financing
Within this case, different situations are created that will merit meeting different requirements to deed land. Therefore, below, we show you those necessary requirements, depending on the situation:
- If you are going to acquire the property for a mortgage loan from a financial institution or a federal one such as Infonavit or Fovissste, you should not worry about the requirements, since these are processed by the same institutions.
- In the case of processing the credit in a private way, you will have to approach a real estate agent certified by the company to enable your credit and proceed with the collection of the requirements.
- From the seller’s perspective, in the case of real estate companies, they proceed to process all the necessary requirements to deed land.
- At the time of going to the notary’s office to deed the land, the real estate workers or those individuals, have to present all the necessary requirements.
In conclusion, in the case of acquiring land by purchase for financing, the requirements are collected, for the most part, by the agencies and agents themselves.
Requirements To Write A Land: By Direct Deal
If the acquisition of the property is to be carried out through a deal between both parties, those involved must attend the notary directly, after gathering the payment vouchers for each side.
Likewise, these are the requirements to deed a land that you will need:
- An appraisal.
- The Certificate of freedom from tax liens.
- A Certificate of Mortgage Liens.
- A Certificate of water debts, property, among others.
What’s more, the notary can request other documents that he considers necessary for the management of the deed.
Steps after signing
Once you know and meet the requirements to deed a plot of land, you must go through the process by which you will be able to complete the procedure.
In this case, no matter how you acquired the property, the steps to deed a land are the same in any circumstance.
So yesIf you want to deed a plot of land, here we leave you the process what you should follow:
- Once the acquisition of the property is made, a notary must be attended.
- You must request a certificate of acquisition and notify the registry of said acquisition.
- The notary proceeds to pay each of the taxes of the procedure to the pertinent authorities.
- Then, both parties to the agreement (seller-buyer) must meet the necessary documentation and requirements.
- Finally, both parties must submit the inscription in the public registers of the transferred property.
Once you complete this process with the notary, the property will be registered in your name.
Different cases when Writing a Land
Deed a property is a simple and easy process to follow, as it has a single procedure: acquire a property, go before a notary, present documentation and requirements and register the deed before the Public Registries.
However, when talking about the different cases that arise to deed land, mention is made of the ways in which the property was acquired that you want to write.
In that case, we will show you below the most common cases that occur in this type of procedure:
For case 1, mention is made of all those procedures that involve the sale of any property through any type of credit requested from a banking institution.
Similarly, in this case the credits requested from federal institutions such as the Infonavit or the Fovissste.
This case is about the possibility that it is the buyer who decides to process the credit, so you should have the option to make the purchase from third parties. Also, the buyer will have to look for institutional certified real estate agents.
It refers to the perspective of the seller, specifically to real estate.
In this case, it is the real estate agency who is in charge of collecting all the certificates and requirements necessary to deed the property.
If the acquisition of the property is through a agreement between the two parties involved, they must agree and both go before a notary for the process to be carried out.
Likewise, the following situations can also be considered.
- Acquisition of a property through a transfer by agreement of the parties.
- Inheritance of a property.
Costs of Writing a Land
Giving an exact figure of how much it will cost to deed land in Mexico is difficult, since the final amount may vary depending on the documents you need get and the processes you must do.
However, it is estimated that the average value you can spend is close to $ 50.
Now, although the cost of registering a land may vary according to each particular case, it is important that you know the expenses you may incur while doing this process.
For that reason, here we present the costs to consider:
- The boundary
- Updating of service debts
- Writing stationery
- Certificates of freedom from tax and mortgage encumbrances
- Registration in the RPP
- Other processes
- Payment of the seller and buyer (3 to 5%)
- It is the payment for the work rendered by all the workers of the Notary’s Office
Why do I have to do all this paperwork? It is a reasonable question, why invest time in the deed of a land, it may be something you are thinking about at the moment.
The answer is easy, so I know avoid fraudulent actions in the acquisition of your property. That is, it serves as an insurance to justify that the property is yours.
Writing a piece of land is a way of take it for granted that the property belongs to you before the Public Registry. It is for this reason that the process requires identification documents of the parties involved, as well as certificates of ownership and the solvency of payments.
Therefore, if you want to make sure that a property belongs to you before the law, you must deed the property.
What is Writing a Land?
Finally, we come to the last section of the article, in which we will briefly explain what land title deeds mean.
The land deed is nothing more than a legal procedure that is done to put a property in your name, after you have acquired it. This is done with the intention of ensuring under the laws that the property is yours.
Now, for this procedure, the intervention of a notary, the person who works in the Notary, since this is who will be in charge of the whole process and register the property in the Public Registries.
So if you find yourself in the situation of acquiring a property, you must gather the documentation and requirements to deed land and get going with the steps outlined previously.