Title Insurance
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Please check out our new Web Site at Playa de Oro & Mexico Real Estate
Playa De Oro is the First subdivision in the history of Mexico to have Title Insurance on the entire project! WHAT IS TITLE INSURANCE ALL ABOUT AND IS IT REALLY NECESSARY? Most Americans would never buy property in the U.S. without purchasing title insurance. Title insurance in Mexico is a relatively new concept, partially because it is tremendously expensive. Also, there has been an ambiguous sense of security reached because a Notorio Publico researches the public record to ensure legal ownership prior to authorizing a sale, whether deeded or Fideicomiso. Combine that with a bank reviewing the current developer's documents thoroughly before issuing a Fideicomiso and the question arises, why do I need title insurance? The Notorio or an employee of the Notario Publico will check and make recordings in this public register. Humans can and do make mistakes no matter how thorough they are. Regularly there are multiple books in the public registry for every property. These contain margins for what is called a marginal notation that refers the recorder to every major event that could affect any sale on the property (example: a sale or lien in book seven is to be registered in the margin of book one, etc.) One error or omission in any of the books could leave room for litigation. Playa de Oro has title insurance through Grupo Nacional Provincial, S.A. on the entire development. This policy guards against any third party intervention including Government and Ejido claims on Parkstrong's original purchase of the property. Claims can be made through Grupo Nacional Provincial.
(Click to enlarge above pages) Please Contact us if you need more information! ©2002 Parkstrong
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