Acquiring property in Mexico is a complex process that involves many potential pitfalls, particularly for foreign purchasers. To complicate matters, Mexico’s title system is far less technologically advanced than its northern neighbors. Defects and uncertainty in title remain prevalent.
Foreign buyers of real property are also well-advised to retain independent legal counsel to conduct necessary due diligence and review contracts and other closing documents.
To assist our clients in reducing these risks and avoiding the associated pitfalls, Rosen Law offers a complete package of legal services related to all types of real estate transactions.
When advising clients in acquiring real estate in Mexico, Rosen Law attorneys:
- Identify and analyze the legal risks and contingencies associated with a given transaction.
- Assist in mitigating transactions.
- Ensure a timely, efficient, and legally sound closing that translates into a safe and successful investment.
Unlike “closing” or “title” companies that represent the “transaction” and not a given party, in most cases we represent you the buyer, acting as a vigorous advocate, holding your interests above all others. With Rosen Law, buyers get two for one: a closing company AND an advocate.
In other cases, Rosen Law acts as the outsourced closing agent or attorney for an entire development or resort, which enables us to offer a “cookie cutter” approach that ensures a timely and cost-effective closing process.
Likewise, our understanding of local culture and practices allows us to communicate effectively with local sellers, understand their needs, and create effective solutions that protect you while ensuring the deal does not “fall through.”.
As an added layer of protection, in most cases, we recommend our clients obtain title insurance and use third-party, U.S.-based escrow. But our goal is not to obtain an “off-the-shelf” policy; rather, we want to ensure the policy is tailor-made to meet the client’s needs as we address all pertinent exceptions and conditions related to the policy. As with any insurance policy, the “fine print” is what counts. We synthesize and interpret the terms of the policy, tell you what it covers and does not, and to the extent possible, advocate to limit coverage exceptions, exclusions and conditions.
Rosen Law offers specific legal services related to real estate transactions, including:
- Structuring cross-border real estate transactions and vehicles, including restricted zone trusts, guaranty, development and administrative trusts, Mexican stock and limited liability corporations, SOFOMs (investment funds).
- Restructuring, re-organizing and working out troubled, underperforming and distressed assets, including existing, partially built or planned projects.
- Conducting and structuring mergers & acquisitions of ongoing real estate, resort, and hospitality concerns.
- Advising clients on bankrupt and/or insolvent estates with Mexican real property assets.
- Conducting due diligence on real property and the entities selling real property.
- Drafting letters of intent, offers and promises agreements, options, JV agreements, trust agreements, escrow agreements, and purchase & sale agreements.
- Conducting title searches; facilitating, negotiating and obtaining title insurance coverage and escrow agreements.
- Providing tax advice and tax planning for real estate investments and projects.
- Coordinating and facilitating the closing process, including appraisals, surveys, subdivisions, condominium regimes and CC&Rs, beachfront concessions, public registry and cadastre approvals, trust formation and permits, powers of attorney, and formalizations before Mexico’s notarios públicos, either as buyer’s attorney or as closing agent for the developer and transaction.
- Auditing and representing buyer’s interests during closings conducted by agents whose interests are not necessarily aligned with the buyer’s.