Would you like to know about the differences between notaries in Mexico and in the United States? In the United States, they are referred to as a Notary Public, which is a public officer that provides a variety of duties such as being a witness and authenticating legal documents.
The term Notary Public refers to common-law notaries or lay notaries. They can also perform official acts and administer affirmations and oaths. Notaries in Mexico are called Notarios, and they have many different duties, especially when it comes to buying real estate.
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All About Notaries in Mexico
To start with, notaries in Mexico have a very important job with many official processes and transactions. For instance, they are involved in processes related to the purchasing and selling of different kinds of real estate, establishing deeds and wills, mortgages, and incorporation for companies.
Also, if someone or a company doesn’t use a Notario Publico to calculate the taxes or withhold taxes, the Notario could be personally liable. Many people don’t understand the United States Notary Public and Mexican Notario Publicos, the Notary Publics in the US don’t do the duties that the Mexico Notarios do.
To become a notary in Mexico you need to be born in Mexico, be between 25 through 60 years of age, be healthy, have an excellent reputation, cannot be a leader of a church, and cannot have a criminal record. They are also given a written exam as well.
Check out these Tips on Buying Real Estate in Mexico.
Mexican Notaries’ Common Duties
Next, would you like to know about common Mexican notaries’ duties? A Mexican notary can arbitrate, mediate, provide judicial opinions, and intervene in judicial proceedings. They also assist in making sure documents for companies, wills, deeds, power of attorney, real estate purchases, and trusts.
The Mexican notary can also assist in processes related to tax payments, public deeds, and certifying documents such as wills, business contracts, and real estate information. They also are responsible for managing and storing original documents as well. There is supposed to be one notary in Mexico for every 30,000 residents.
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Do You Need a Notary?
If you want to purchase real estate in Mexico, then you will need a notary. You will have to get an attorney if you need legal advice as well. The notary will be neutral with all parties in Mexico.
Their main job is to make sure that all documents and permits are legal and that all taxes are paid on the real estate property. They are liable for every transaction they perform. The fees for the notary will depend on the type of services they are providing.
A notary is a respected profession in Mexico, and they are the final word with the title transfer when real estate property is sold.
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