STEWART TITLE
LATIN AMERICA:
About
STGM
The Stewart Title
Latin America offices in Mexico are service
providers for Stewart Title Guaranty de Mexico
S.A. de CV {STGMEX). STGMEX is a wholly owned
subsidiary of Stewart Title Guaranty (STG), and
the first and only Mexican title insurance
underwriter licensed by the Comisión Nacional de
Seguros y Fianzas of Mexico to issue title
policies in Mexico.
As the only Mexican
title insurance underwriter, STGMEX has
developed an unparalleled underwriting expertise
covering Mexico?s unique title risks. Since
2001, STGMEX has been delivering policies
crafted to address the intricacies of Mexico?s
real estate law, while providing global
customers with a familiar set of insuring
provisions.
Headquartered in
Mexico City, STGMEX provides policies throughout
Mexico to a wide range of customers including
developers, lenders, real estate funds, and
foreign investors. Since its inception STGMEX
has underwritten the title to over $US 3.5
billion of real estate.
As a subsidiary of
Stewart Title Guaranty, one of the largest
global title underwriters, STGMEX can underwrite
large value transactions for both Mexican and
global investors.
Title
Insurance
All real estate
transactions involve elements of risk, Stewart
Title Guaranty de Mexico's (STGM) title
insurance polices provide protection for these
risks. In Mexico, Notary Public and the Public
Registry System provide legal assurance to the
real estate transactions; nevertheless, they do
not provide economic assurance if something goes
wrong. The system is not foolproof!
Increasingly issues
like title fraud, identity theft, and errors in
the public registry are leaving owners and
lenders exposed to potentially expensive and
time consuming litigation or even worse loss in
part or whole of an interest in a property.
STGMEX's title policies provide the
solution.
Underwriting a
property's title
Conducting a rigorous
title investigation, STGMEX develops a robust
summary of a property's title, often dating to
the title's origin. Utilizing the detailed
investigation, STGMEX's underwriters asses the
property's title and then insure policy holders
against potential losses resulting from matters
affecting the title.*
Types of matters
covered *:
- Invalid documents
executed under expired/non-existent power.
- False assumption of
identity concerning the legitimate property
owner.
- Liens and financial
burdens charged to the previous property owner.
- Non registered
easements.
- Hidden heirs of
previous owners
The thorough nature
of the title investigation along with the risk
assumption by STGMEX gives policy holders an
unparalleled level of protection from loses
associated with a property's title.
Legal Defense
Coverage
Besides paying for
loses associated with covered title matters,
STGMEX's policies provide for the payment of
legal fees associated with defending the title
to an insured title.
Escrow
Services
When purchasing
property, one of the most important
considerations for both a buyer and a seller is
whether and under what conditions the
transaction funds will be safely held and
distributed by an independent party. In an
international transaction, this issue is even
more important and often complicated, as either
the purchaser or the seller may not be familiar
or comfortable having funds deposited in an
unfamiliar jurisdiction or with an unfamiliar
attorney or bank. Utilizing Stewart's escrow
services provides cost-effective security to all
parties in the real estate
transaction.
With billions of
dollars of experience, Stewart's escrow teams
can administer deposited funds ensuring an
efficient and secure disbursement
process.
Closing
Services
Beyond providing
customers title guaranty and escrow services,
Stewart Title Latin America provides a host of
coordination and closing services to help
streamline the real estate transaction process.
Acting as a single point of contact for closing
details, Stewart will provide all the necessary
notary and legal services to close the real
estate transaction. When utilizing Stewart's
closing services all details will be managed by
a highly trained closer, who will guide you
through the entire transaction process.
Mortgage
Services
STLA implemented the
Mortgage Services Division to better serve our
customers in the region. STLA does not act as an
agent or mortgage broker and does not give
financial advice, but assists our customers in
finding those that can. We want to help create a
bridge between the lender and you - the customer
- facilitating your ability to obtain financing
for your real estate transaction.
In markets that have
been traditionally "cash only", significant
progress has been made in recent years, with
local lenders, mortgage brokers and US-based
financial institutions creating a more "US
-style" process, including standard loan
documents and procedures familiar to the US
customer purchasing second homes
abroad.
However, local real
estate and lending procedures still must be
followed in all cases and STLA's local knowledge
will help to guide you through those steps. We
strive to make the process as friendly for you
as possible - our goal in every
closing.
Please contact us for
additional information regarding lenders and
mortgage brokers in your area of
interest.
We look forward to
providing you information.
Note: Stewart Title
Latin America is not a mortgage broker or agent
for lenders and does not receive any fee or
compensation from lenders, agents, or mortgage
brokers for these services.
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