What is a notario publico?

In Mexico, all real estate transactions and the legal conveyance of any type of property involves the participation of the notario publico. Much more than a "public notary," these professionals are appointed attorneys who prepare the deed of conveyance subject to the purchase-sale agreement. The notario publico brings the buyer and seller together for formalization of the property transfer. After the property is transferred, the notario will record the document with the public registry or property where the property is located. The notario is also responsible for the collection of all applicable property taxes, capital gains taxes and government transfer taxes. As a representative of the state, however, the notario does not insure title to the real estate nor do they have any legal responsibility for title defects.