Real estate law is the branch of law that regulates the purchase, sale and use of land or any type of real estate. It comprises a set of administrative rules and laws that regulates how people can and should acquire property, what they can do with those that belong to them and what regulations they are subject to.

The main object of this branch of law is real estate and its commercial transactions, such as sale and purchase or donation, and real rights, i.e., ownership and possession.

It is a private law, although administrations and public authorities may participate in this type of transactions, as long as they act as a private person and not as a public entity. This means that if a city council acquires a building in order to establish its headquarters there, the rules that regulate this acquisition will be those established by administrative law.

Real estate transactions have been gaining popularity as urban development has evolved, places such as the metropolitan area of Monterrey, have allowed real estate to be appreciated not only from a patrimonial perspective, but also from a commercial perspective.

What is Real Estate Due Diligence? And its importance when buying or renting.

The real estate due diligence is the process of investigation, review and evaluation of the legal condition of the property and its elements, including its antecedents, characteristics, accessions, encumbrances, owners, debts, possible present or future contingencies, analysis of the alternatives to regularize the legal condition, as well as the weighting of any other circumstance inherent to it and that may have an effect in its appreciation.

It is an iterative process, during which various factors that affect each other must be analyzed. From the legal perspective, there are several items or aspects that, regardless of the type of property, must be investigated and reviewed in detail, for example the following:

• History of deeds.
• Proof of official number and alignment.
• Certificate/License of land use.
• Certificate of free encumbrance.
• Cadastral survey.
• Regulatory-Real Estate Analysis (applicability of norms to the specific property).
• Urbanistic Analysis.
• Legal-Environmental Analysis

Avoid cost overruns in the work, multiple expenses, serious environmental impacts that may lead to the demolition of the property.

In Gonzalez Rodriguez Abogados we are here to support you regarding the legal situations inherent to a property, do not hesitate to contact us.

Lic. Elmer A. Aguirre R.

Senior Associate.

eaguirre@g-r.mx