There are a series of taxes and duties that must be paid that depend on the purchase price, and legal fees are based on an official tariff.
If all the requirements are met, it takes between 4 to 5 weeks. If seting up a trust, it may take an additional 4 weeks.
The State Civil Code states that the payment of the deed is the buyer’s responsibility; Income Tax, if applicable, must be paid by the seller.
Yes, there are different ways to guarantee payments.
The exemption may be applicable if, in the three years prior to the date of deed, the seller has not sold another property using the right of exemption, declaring so under oath.
The seller must present either a Mexican voter identification card, telephone bill, electricity bill or bank account statement with the address of the property being sold and in the name of the seller, his or her spouse, or their ascendants or descendants. Tax exemption is capped.
- A letter of instruction addressed to the Notary.
- The deed by which the mrotgage was loan was granted with registration data, and in case of any modification, the respective deed.
Providing the Notary with:
- Object (purpose) of the corporation.
- Names of the associates.
- Three names for the corporation.
- General information of the person(s) who will grant the power of attorney.
- Legal entities must bring their incorporation instrument and the reforms that have been made to it; attorneys-in-fact must bring their deed stating the powers they can exercise.
- The name of the person(s) receiving the power of attorney.
- Powers to be granted (for lawsuits and collections, acts of administration, acts of ownership, subscription of titles of credit, or special).
If a duration period is not indicated, it will be valid for 3 years from the signing of the power of attorney.
- Copy of an identification, which must be presented in original at the time of granting the will.
- Appearing personally at the notary, in perfect mental state.
When a minor or an incapable adult is involved.
No, even assets that are not yet owned may be included.
The person to whom specific goods or assets are left to.
Show the original to the notary for comparison.