One of the most misleading habits of realtors in Mexico is translating the title Notario Público. They don’t mean to be misleading, of course, in fact I’d bet they’re trying to be helpful. But in reality they’re only confusing their American or Canadian clients. Because here in Mexico the Notario is nothing at all like the notary they’re familiar with back home.
In Mexico the Notario is a very important, very respected legal figure. They are a government-appointed attorney who has gone to post-graduate legal school, taken a grueling examination and worked under a practicing Notario before taking up their post. The government limits the number of Notarios in a given area based on the population. The Notario’s job is to preside over certain legal proceedings such as the purchase of real estate and the formation of corporations. They are charged with calculating and collecting the federal taxes due in these procedures, and if they make a mistake are personally liable to make up the tax deficit. They are consulted to give legal opinion in matters of title and ownership. In many respects they are similar to a magistrate. Not at all like a Notary in the U.S. or Canada. Oh yes, if needed they will witness a signature. But be prepared: the going rate for that service is between $50 and $75 US.
When clients don’t understand the difference it can make for serious sticker shock when they see their closing cost estimate. “Nineteen hundred dollars for Notary Services! You’ve got to be kidding!” No, we’re not kidding. Sure, it’s a lot of money. But it’s for a lot of legal service. Prior to your closing the Notario’s staff will have thoroughly researched the history of ownership of the property, verified the identity of all parties to the transaction, checked that the property is free of liens and up to date on property taxes and drafted the trust document. [Since you’re reading this in English I’m assuming you’re not a Mexican citizen and will hold your property in trust if it is close to the ocean or border. If it is further inland the Notario will draft an Escritura, which is the title instrument used by Mexican citizens.] He or she (the feminine is Notaria, and we have some here in Los Cabos) will have calculated the seller’s capital gains tax and arranged for that amount to be withheld from escrow. By the time you appear before them for the final signing ceremony the Notario or his staff have expended many hours safe-guarding your investment. They are your assurance that this transaction has been done properly and your investment is safe. Very, very different than the role of a Notary.
Several years ago I read that the state of Texas passed a law forbidding the translation of the title. Although I don’t think we need a law, the public would be well served if those of us in the real estate field used the Spanish title when referring to these professionals. Some things just don’t translate well.