PREVENTIVE NOTICE by Maria Luisa Cisneros
In the state of Quintana Roo, Mexico, real estate attorneys must without exception contemplate the Public Registry of the Property and Commerce (“Public Registry”) we consider it like a religion, it has immense importance.
After you buy a real estate in Quintana Roo, please look in your title for a document with the following name “Boleta de Registro”, if you don’t have it no worries, please contact the attorney that assisted you during your closing, I am sure that he or she will explain everything.
The Public Registry has a lot of information; however today I will specifically touch base on preventive notices.
The first thing you need to know is that such notice is submitted by the Notary Public in the Public Registry before the execution of your title and after it, again the Notary Public must submit a second preventive notice, let me show you the importance of it, in the following paragraph.
The first preventive notice has the advantage that it lasts 30 days, during that time, the property is blocked on your behalf meaning that you are ready to close and no one could do anything with your future property.
Then if within those 30 days once the property is properly deeded, the notary at that moment will have to send the second preventive notice, the term of the second preventive notice is 90 days, therefore the Notary Public will submit your title in the Public Registry with the payment of taxes, most importantly ISAI and all the certificates necessary.
This information makes all of the difference in a closing and the interesting thing about preventive notices that many times they are not given importance and proper registration, at Sekuralaw we´ll always perform a double-check of the preventive notices with the certificate of no lien.