La Manzanilla Mexico Ejido Notes

Glossary

LAND GLOSSARY

PROCEDE

encumbered (mortgaged.) (settlement attachment)

Public Registry of Property (Registro Publico de la Propiedad),

official translator, "perito traductor'

NOM- These standards, known as Normas Oficiales Mexicanas (NOM), are minimal standards for consumer protection and are enforceable throughout Mexico federal zone "La zona ferderal maritime terrestre, " which translates from the Spanish as "the federal maritime land zone."

deed translates as "escrituras."

metes and bounds, or "medidas y colindancias

personal property, (bienes muebles)

Purchase-sales agreement- The contract by which title to real estate is conveyed

fingerprint (huella digital)

installment payments (abonos)

irrevocable real estate trust agreement, or elfideicomiso

consideration (contraprestacion)- The full amount paid for the property.

Beneficiary- the person who has the right to use and enjoy the property held in trust and to give instructions to the bank/trustee with regard to the property

assignment of rights agreement (cesion de derechos)

perfect instrument: "An instrument is said to become perfect or perfected when recorded (or registered) or filed for record, because it then becomes good as to all the world."

Secretary of Social Development (Secretaria de desarrollo social) otherwise known as SEDESOL.

power of attorney - "porter notarial, " "carta poder, " or simply 'poder. "

porter - the document by which a person legally proves that he may represent another person to carry out a legal (7-2) transaction. This document may take two forms: the carta porter or the porter notarial.

carta poder, (letter of proxy) has very limited usage. The Civil Code limits the use of a carta poder, signed before two witnesses, to transactions which are more than $200 but less dm $5,000 unless otherwise expressly provided for by another law. porter notarial is the most common form of a power of attorney in Mexico, and the only form that may be used for real estate transactions.

Civil Code (Cidigo Civil)

Marital status (el estado civil):

Individuals (personas fisicas)

legal entities (personas morales), such as corporations, associations, and institutions formed by individuals.

legal capacity (capacidad de goce)

patria potestad," or paternal power.

emancipation - The process by which a minor is liberated from either paternal power or a guardianship due to marriage);

Guardianship- tutela

conservator (curador)

public registry (registro publico de la propiedad) Sociedad Conyugal- all property owned separately before the marriage is jointly owned after the marriage./

patrimonio - property as it pertains to all property or goods having economic value, and property which forms part of a person's assets, or what is known as "patiimonio " in Mexican Law. (see pg 9-2 or (100))

bienes - goods

PERSONAL PROPERTY WITHOUT AN OWNER
This type of property, "BIENES MOSTRENCOS,' refers to personal/moveable property that is abandoned, or to lost chattels that's owner is unknown.

Vacant property -BIENES VACANTES

Usufruct is "the right to utilize and enjoy the profits and advantages of something belonging to another.

Experts (peritos)

right of alienation- means that they can legally sell the property without the consent of another person.

town council (ayuntomiento)

borrower- mortgagor

lender - mortgagee

mortgage (hipoteca)

Bare ownership (nuda propiedad) means the property is owned but not the use of the property.

rights of preference - prelacion

experts - peritos

public instrument -- escritura publica

Ministerio Puiblico -- District Attorney

injunction or writ of possession - despojo

cause giving - causa generadora

warranties - sameamientos

Accession is the right of an owner to increase the value of a property by improvements or natural growth.

minutes book (libro de actas).


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