Welcome to RE/MAX Real Estate Service, Cabo San Lucas

Joyce Reddeman
Local Cell: (624) 129-9238
Email: joycer@remax.net

Greg Reddeman
Local Cell: (624)129-9667
Email: greddeman@remax.net

Office Local: (011- 52) (624)144-4169
Office Toll Free from U.S.A. / Canada:  1-800-817-1791
Home from U.S.A. / Canada:  1-(587) 329-1389 (Calgary)

Blvd. Marina 20 Local #7
Colonia Centro, C.P. 23450

Cabo San Lucas, Mexico

www.WeSellCabo.com


Document Library

 

Impuesto Sobre Bienes Inmuebles
Acquisition Tax (receipt)

Calculated at the rate of 2% of the value declared for the property.

Purchasers of real estate and purchasers of trust rights must pay this tax.

 

Apostillado
Apostille (U.S. document)

This document is issued by the Department of State in the state where the signatures were notarized.
It certifies the validity of the document being notarized.

(U.S. only, not Canada).

 

Avaluo
Appraisal

The appraisal is made to determine value of the property, including the land and the imporvements.

 

Impuesto Sobre la Renta
Capital Gains Tax

There are two ways this tax tax is calculated. The seller is obligated to pay the LOWER of the two:

1. 20% of the total selling amount, (no deductions)
2. 40% of the difference between selling price and value at seller's acquisition.

(authorized deductions apply)

Proceeds from the sale of real estate in Mexico are considered to be Mexican source of income. 

 

Certificado de Libertad de Gravamen
Certificate of No-Liens (No-Encumbrance)

This document is issued by the Public Registry, it certifies the current status of the property.

Careful! This is not a replacement for a Title Search!.

 

Certificado de No-Predial
Certificate of Property Tax payment (receipt)

This document serves as proof that property taxes have been paid.

 

Escritura Publica
Public Instrument (Deed)

This document can only be issued by a Mexican Notary Public. It attests, in this case, to the transfer of property.

This documents is perfected upon recording at the Property Tax Office and the Public Registry of Property Office.

 

 

Sello de Catastro
Seal of the Property Tax Office.

The Property Tax Office will place a seal on the Escritura to reflect the inscription of the document.

 

Sello de Registro
Seal of Registry

Placed by the Public Registry, showing recording data.

 

 

Carta de Instruccion
Letter of Instruction

When buying from a foreigner (non-Mexican citizen), a Letter of Instructions must be issued and signed by the Seller.

If issued in Mexican Territory, it must be signed before Notary Public.

If issued in the United States, it must be accompanied by an apostille

If issued in Canda, it must be ratified by the Mexican Consulate.

 

Permiso de la Secretaria de Relaciones Exteriores.
Permit from the Ministry of Foreign Affairs of Mexico.

In order to establish a Mexican Bank Trust (Fideicomiso), a permit must be issued by this Ministry.

 

Poder
Power of Attorney

This document will give the person you designate, the power to legally represent you in a specific transaction.

 

Aviso Preventivo
Preventive Notification

This document can only be issued by a Notary Public. It serves as notification that a transaction is under way.

It shelters the title of the property for a period of 60 days.

 

Promesa de Fideicomiso
Promise of Fideicomiso

This document is usually entered as the agreement to buy. Do not confuse it with the actual title to the property. This is a temporary agreement. A registered title (Fideicomiso) must be obtained as soon as possible..

 

Title Commitment

This document is issued by the Title Insurance Company. It establishes the conditions under which a policy of title insurance will be issued.

 

Reporte Preliminar de Titulo
Preliminary Title Report

Present the condition of the title after a title search was performed

 

 

# # # # # # #

This article is written by Linda Jones Neil, Founder of The Settlement Company.    It is the first escrow company in Mexico, and is dedicated to processing the trusts and title transfers of Mexican real estate for foreign buyers and sellers for properties located ANYWHERE in Mexico. The company frequently sponsors seminars on the various aspects of real estate ownership in Mexico and holds membership in AMPI, NAR and FIABCI and PROFECO Certificate 00063/96
E-mail:
info@settlement.com     Web Site: www.settlement.com 

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