Standard Lease Agreement Mexico

Most real estate rights, interests and transactions (e.g. B significant leases) must be entered in the public cadastre of the Member State concerned in order to be effective vis-à-vis third parties. As mentioned above, in all public real estate registers (with the exception of Quintana Roo), the registration of a right, charge or interest in immovable property is used only for information purposes and registration therefore does not constitute a right. However, the registration grants the real estate rights with publicity and prioritization. Guaranty Trusts are also used to finance offices, retail and industrial parks, as the trust is a perfect way to account for lease agreements with tenants and the cash flow that flows from them. Historically, in Mexico, the law has favored the tenant. It takes time, effort and legal fees to distribute existing tenants. Evacuation requires termination at the end of a contract, failing which the fixed-term lease will be transformed into a lease of indefinite duration. Fortunately, in accordance with the provisions in force, in force since 19 October 1998, the contract can be terminated subsequently with a period of 15 days. There is no reason on the part of the owner to resign. However, the problem is that if, despite the landlord`s notification, the tenant remains in possession after the contract is terminated, the lessor must go to court to request eviction.

A lawsuit and enforcement of a final order to terminate the rental agreement, evict property, and/or forfeit rents can take up to several years in highly controversial one-year cases (if the tenant does not resort to adequate defenses). The average duration of the dispute is about eighteen months. There are no specific standards. Contracts vary depending on the type of property to be rented (e.g.B. for residential, retail, office or industrial purposes). If the property is sold during the term of the rental agreement, the tenant continues to pay the rent to the new owner for the term of the contract. However, the new owner can terminate the contract with a period of 30 days. Alternatively, in some places, and especially in Mexico City, some landlords will ask someone to sign your lease known as Fiador. Additional types of collateral, such as an institutional loan or a solvent guarantor, are usually requested. The liabilities of the guarantor are extinguished at the end of the term of the rental agreement, unless otherwise agreed. Agreements may also be concluded for an indefinite period. .

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