Title Insurance: by far the highest percentage of foreign ownership in Baja California Sur, including the Loreto area, is by Americans, and Americans identify security in their real estate ownership with the availability of title insurance. US-style title insurance is available from Stewart Title, Fidelity, and First American, and it has been available since 1998. We will discuss the usefulness, and costs, of this insurance with you and help you decide if you need or want it.
We work with a real estate closing attorney, and a title commitment based on an American-style title search, will be provided prior to closing of any transaction we handle.
Issued to cover against risks on the title of real estate, an insurance policy is a concept familiar in the United States but not in Mexico. However, with the advent of U.S. and Canadian citizens arriving in México to buy a second home or lot on which to build a house, the commercial viability of title insurance is present. With the financing of these items and the financing of building or purchasing commercial properties in Mexico by U.S. and Canadian based banks and financing companies, U.S. and Canadian buyers and builders want this title insurance, since that is what they are comfortable with. As such, there are presently title insurance companies in Loreto and Mexico offering this service.