The certificate of freedom of encumbrance is the document that guarantees the legal certainty that the property purchased or to be purchased does not have any debts or legal situations in relation to the Ministry of Finance or financing institutions.
In addition to other documentation, this is one of the most important documents requested when promoting a property for sale. This document grants the certainty that the property can be sold and given freely to the new owner, without it being a guarantee for any loan, or seized.
Where is the Certificate of Freedom of Lien processed?
In Oaxaca, this certificate is issued by the Public Registry of Property and Commerce. To obtain it, you must first fill out an application form, which includes information such as:
- Data of the applicant
- Name of the owner or registrant
- Name of the property
- Complete location: measurements, boundaries, surface, and registry antecedent.
- Name, signature of the applicant, and date of presentation
Likewise, the payment corresponding to the antecedent of the inscription before the Public Registry of Property and Commerce must be made, this varies according to the state in which it is processed.
The approximate time to have it is five to eight working days in regular conditions, although the process can be accelerated by paying an extra fee.
Do you have doubts about this or other legal procedures related to the purchase and sale of real estate? Come to SILMÉXICO to receive advice from our legal team.
