American title insurance companies Stewart Title Guaranty Corp. and First American Title are now offering title insurance policies to foreign buyers in Mexico. Title insurance offers an extra level of protection for buyers purchasing property in Mexico.
When a buyer elects to obtain a title insurance policy, title insurers undertake an exhaustive search of property records, sometimes going back decades to establish clear title. They will also examine records to determine that taxes have been paid and that there are no remaining liens on a property that could become the obligation of the new buyer.
In Mexico, the Notario Publico (notary public), who is an attorney and appointed by the governor, certifies all real estate transactions. This is done after reviewing various property and tax records from a title search. American title insurance protects buyers against errors made by the Notario Publico.
Title insurance policies typically cost $8 per $1,000 USD of the purchase price.
