An Agreement is defined by Mexican Legislation and the Mexico law as a voluntary pact to create, transfer, modify and/or extinguish rights or obligations; furthermore The Federal Mexican Civil Code and legal doctrine establishes that an agreement is binding when the following elements are met:
Existence Items.- These are the most primitive and essential elements which any legal Mexico real estate contract or agreement must be provided with: a) Consensus.- The express or tacit will of the parties to execute an agreement; b) Object.- The agreement’s goal must be determined or determinable from a physical and legal point of view (i.e. transmission of rights and obligations, to grant, to refrain from doing, to do).
Validation Elements.- These items must be considered in order for the Agreement or Contract not to be affected by partial or total nullification: a) Capability.- Attribution that an individual or entity has, which allows him/it to be responsible from the legal acts performed (exercise capability and inherent capability). I.E. A child has inherent capability but no exercise capability, ergo, is not allowed to sign and/or execute any contract or agreement. B) Form.- The shape of the contract, it’s wording, syntaxis and semantics. c) Lack of vice.- The contract or agreement must not be subject to bad faith, violence, duress or injury. d) Legality.- The contract or agreement must be executed accordingly to the enforceable Mexico laws and will never be performed against public order or good customs.
Existence items must be present in order for the agreement to produce any legal effect whatsoever, and validation elements must be closely observed, otherwise a party could have a legal recourse to challenge the efficiency of the contract through court.
Juancarlos Pelaez has been helping non-Mexicans with their real estate contracts and activities for over 10 years in the Yucatan Peninsula region. A graduate from the prestigious Mexican University of Monterrey Technologico and a Masters Degree from Madrid Spain, JuanCarlos has ample knowledge in the regional laws and obstacles that most Americans and Canadians experience. You can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK
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