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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