Escrituras Publicas and Acta de Posesión explained !

When buying or selling real estate in Puerto Escondido Mexico, it’s important to understand the legal documents that go along with the process. Two of the most important documents are “escrituras publicas” (public deeds) and “acta de posesión” (certificate of ownership). In this article, we’ll explore what these documents are, their significance, and how they differ from each other.

Table of Contents

1. Introduction
2. What is an Escritura Publica?
   1. Definition
   2. Importance
   3. Components
3. What is an Acta de Posesión?
   1. Definition
   2. Importance
   3. Components
4. Differences Between Escritura Publica and Acta de Posesión
   1. Legal standing
   2. Registration
   3. Ownership rights
5. How to Obtain an Escritura Publica and Acta de Posesión
   1. Process
   2. Costs
6. Conclusion
7. FAQs

1. Introduction

Real estate transactions in Mexico require various legal documents to ensure the protection of both the buyer and seller. Among these documents are “escrituras publicas” and “actas de posesión”. While both documents relate to the ownership of the property, they serve different purposes and have different legal implications.

2. What is an Escritura Publica?

2.1 Definition

An “escritura publica” is a public deed that serves as legal proof of ownership of a property. It is a document that is executed and certified by a notary public and registered with the public registry of property. The escritura publica contains all the essential information related to the property, such as location, dimensions, boundaries, ownership, and encumbrances.

2.2 Importance

The escritura publica is the most important legal document in a real estate transaction in Puerto Escondido Mexico. It provides the buyer with the legal right to possess and use the property, as well as the ability to sell, mortgage or transfer the property. It also protects the buyer against any claims or disputes over the ownership of the property.

2.3 Components

The escritura publica contains several components, including:

• The description of the property
• The name of the current owner
• The purchase price and payment terms
• Any encumbrances on the property
• The signatures of the buyer, seller, and notary public

3. What is an Acta de Posesión?

3.1 Definition

An “acta de posesión” is a certificate of ownership that is issued by the local municipality. It is a document that proves that the person possessing the property is the legal owner. The acta de posesión is usually obtained for properties that do not have a valid escritura publica, such as ejido land or properties that have not yet been fully registered.

3.2 Importance

While an acta de posesión does not provide the same level of legal protection as an escritura publica, it is still an important document for those who possess properties without a valid escritura. It can be used to establish ownership, obtain services such as water and electricity, and in some cases, can be used to sell the property.

3.3 Components

The acta de posesión typically includes:

• The name of the owner
• A description of the property
• The date of possession
• The signatures of witnesses and local officials

4. Differences Between Escritura Publica and Acta de Posesión

4.1 Legal standing

The main difference between an escritura publica and an acta de posesión is their legal standing. An escritura publica has full legal validity and provides the buyer with full ownership rights, while an acta de posesión is not a legally binding document and only serves as proof of possession.

4.2 Registration

Another difference is the registration process. An escritura publica must be registered with the public registry of property, while an acta de posesión does not. This means that an escritura publica provides a higher level of legal certainty and protection for the buyer.

4.3 Ownership rights

An escritura publica provides the buyer with full ownership rights, including the right to sell, mortgage, or transfer the property. An acta de posesión, on the other hand, only establishes possession and does not grant ownership rights.

5. How to Obtain an Escritura Publica and Acta de Posesión

5.1 Process

To obtain an escritura publica, the buyer and seller must hire a notary public. The notary will review the legal status of the property, prepare the escritura publica, and oversee the signing and registration of the document.

To obtain an acta de posesión, the buyer must apply to the local municipality and provide proof of possession of the property. The municipality will then issue the certificate.

5.2 Costs

The cost of obtaining an escritura publica varies depending on the location and value of the property. It typically includes notary fees, registration fees, and taxes. The cost of obtaining an acta de posesión is usually lower than that of an escritura publica.

6. Conclusion

When buying or selling real estate in Mexico, it’s important to understand the legal documents that are involved in the process. The escritura publica and acta de posesión are two of the most important documents, and while they both relate to the ownership of the property, they serve different purposes and have different legal implications. The escritura publica provides full ownership rights and legal protection, while the acta de posesión only establishes possession. Obtaining an escritura publica is a more complex and expensive process, but it provides greater legal certainty for the buyer.

7. FAQs

1. What is the difference between an escritura publica and a title? An escritura publica is a legal document that serves as proof of ownership of a property, while a title is a legal document that proves ownership of a vehicle.
2. Can a property be sold without an escritura publica? Technically, yes, but it is not recommended. An escritura publica provides the buyer with legal protection and ownership rights, and without it, the buyer is at risk of fraud or disputes over ownership.
3. What is ejido land? Ejido land is communal land that is owned collectively by a group of people, typically indigenous communities. It is governed by a special set of laws and regulations.
4. Can a foreigner own property in Puerto Escondido? Yes, foreigners can own property in Mexico, but they must do so through a trust or a Mexican corporation.
5. How long does it take to obtain an escritura publica? The process can take anywhere from a few weeks to several months, depending on the complexity of the transaction and the location of the property.