Title Insurance & Escrow-
A title insurance policy is an agreement with an insurance company which contracts to indemnify the insured against a loss sustained as a result of defects in the title, other than those outlined as exceptions. The title policy can insure an owner, lender, mortgage holder, or a holder of a legal interest in the property. The title insurance company agrees to defend, at its expense, any lawsuit affecting title which is based upon issues outlined in the policy.
Currently there are two title companies offering Title Insurance in Mexico: Stewart Title Company and Fidelity National Title de Mexico. Both companies also offer Escrow Services for the management of funds in a transaction, which is very important. There are others who offer escrow services such as, Stewart Title Latin America and Intercam Banco. In any case, you only want to use a company who can comply with the anti-money laundering laws of Mexico. Please note- Escrow accounts with these companies are generally not interest bearing unless otherwise arranged.
Prestige Properties can help you find trusted independent legal services to work with, for all types of legal and immigration needs. We have been through the processes many times over and look forward to having you work with professionals who know Mexican law, and are familiar with local and international business transactions. Some areas covered include: closing on a purchase, obtaining a fideicomiso (bank trust), any sort of title or labor issue, federal zone concessions, forming a corporation, asset management, wills, etc. You want to work with the right people who have professional advice for protecting your investments in Mexico.
**Please contact your Prestige Properties consultant for updated information on Title Insurance and Escrow Services for buyers and sellers.**
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