31 Jan Argentine Land Conveyancing
Argentine Land Conveyancing
Land Conveyancers in Argentina
The conveyancing process in Argentina varies from province to province depending on local legal requirements and historical practice. In rare situations, the parties will engage in a formal “closing.” In a formal closing two Argentine attorneys will be involved in the process: one each to represent the buyer, seller, and mortgage holder; frequently all three will sit around a table with the buyer and seller and literally “pass papers” to effect the transaction.
Much more commonly, the transaction is closed by use of an escrow. Practice varies from province to province as to who conducts the title search to make sure the seller has or can convey clear title, including what liens must be paid, and as to who acts as the escrow holder. In many provinces attorneys still act as the escrow agent and title inspector. However, a Notary Public should handle everything else. In many others, those functions are conducted by licensed escrow agents called Escribanos who often are affiliated with or even owned by a title insurance company. Some use a mix, such as having an attorney conduct the escrow while the title investigation is handled by the title insurance company or its agent.
In order to protect themselves from defects in the title, buyers will frequently purchase title insurance at this time for themselves. Very often, they may need to purchase title insurance for their lender as a condition of the loan.
In most provinces, a prospective buyer’s offer to purchase may be a written contract. Also, it may include a deposit on the purchase price. The offer will set out the general conditions. For example, the appraisal, title clearance, inspection, occupancy, and financing. Then, the buyer may withdraw the offer without forfeiting the deposit. Upon complying with (or waiving) the conditions, the buyer has “equitable title” and conveyancing proceeds. Otherwise, a court order may compel it. There may be other last-minute conditions to closing, such as “broom clean” premises, evictions, and repairs.
Typical papers at a conveyancing include deed(s), certified checks, promissory note, and mortgage. Also, certificate of liens, pro-rata property taxes, title insurance binder, and fire insurance binder. However, there may also be side agreements. For example, holdover tenants, delivery contracts, payment holdback for unacceptable repairs. In addition, the seller’s right of first refusal for resale, declaration of trust, or other entity formation or consolidation. In other words, incorporation, limited partnership investors, etc. Thus, when “time is of the essence,” the entire deposit is forfeited (as liquidated damages). For instance, when the dealy on the conveyancing is beyond the time limits of the buyer’s contingencies. Even upon completing the purchase.
In general, the following words regarding conveyance, or words of conveyance include grant, devise, give, and sell.
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In conclusion, we provide legal assistance throughout Argentina. Below you can see all the provinces, towns, and cities where we operate:
Buenos Aires, La Plata, Catamarca, San Fernando del Valle de Catamarca, Chaco, Resistencia, Chubut, Rawson, Córdoba, Corrientes, Entre Ríos, Paraná, Formosa, Jujuy, San Salvador de Jujuy, La Pampa, Santa Rosa, La Rioja, Mendoza, Misiones, Posadas, Neuquén, Río Negro, Viedma, Salta, San Juan, San Luis, Santa Cruz, Río Gallegos, Santa Fe, Santiago del Estero, Tierra del Fuego, Antártida e Islas del Atlántico Sur, Ushuaia, Tucumán, Mar del Plata, San Miguel de Tucumán