Bilingual real estate glossary for Mexico 2026: Spanish terms and concepts you'll encounter when buying property in Mérida and Yucatán — explained in plain English with pronunciation and context.
Mexican Real Estate Glossary: Spanish Terms Explained
When you buy property in Mexico, you’ll encounter a stream of Spanish legal and real estate terms — in contracts, deeds, and conversations with your notary and agent. This glossary defines the most common ones in plain English, with context for how each fits into the buying process.
The Purchase Process
Oferta / Carta oferta — Offer letter. An informal written offer to purchase a property at a specific price and terms. Not legally binding until a promissory contract is signed, but establishes the basis for negotiation.
Contrato de promesa de compraventa — Promissory contract. The first legally binding document. Both parties commit to completing the sale under the agreed terms. Usually accompanies the earnest money payment. Key provisions: price, payment schedule, closing date, conditions, and what happens if either party defaults.
Anticipo / Señal / Enganche — Earnest money / deposit. The initial payment made when signing the promissory contract. Typically 5–15% of the purchase price. If the buyer backs out without cause, it’s typically forfeited. If the seller backs out, they typically must return double the amount.
Escritura de compraventa — Deed of sale. The definitive legal document transferring ownership from seller to buyer, executed before the notary. After signing, this is registered at the Registro Público to complete the transfer.
Cierre — Closing. The final transaction event where the deed is signed, payment is made, and keys are exchanged.
Protocolización — Notarization / formalization. The act of the notary formally executing a legal instrument (making it official in the notarial protocol).
Legal Documents and Title
Escritura — Deed. The legal document that records property ownership. Your “escritura” is your title document — keep the original safe.
Escritura de propiedad — Title deed. Specifically the document proving ownership.
Título de propiedad — Title to the property. Used interchangeably with escritura in common usage.
Folio real — Property’s registration number at the Registro Público. Each property has a unique folio real that identifies it in the public record.
Registro Público de la Propiedad — Public Property Registry. The government registry where all real estate transactions are officially recorded. Looking up a property’s folio real here shows the registered owner and any liens.
Certificado de libertad de gravamen — Certificate of no liens. Official document from the Registro Público confirming the property has no outstanding mortgages, liens, or encumbrances. Required for every sale.
Gravamen — Lien or encumbrance. A legal claim against a property (usually a mortgage or judgment). A property with an existing gravamen typically cannot be sold until it’s released.
Hipoteca — Mortgage. A lien on property securing a loan. When you pay off a Mexican mortgage, you get a “liberación de hipoteca” (mortgage release) that must be registered at the Registro Público.
Cadena de título — Chain of title. The historical record of all previous owners of a property. The notary reviews the cadena de título to verify clean ownership.
Estudio de título — Title study. The notary’s review of the property’s legal history, checking ownership chain, liens, building permits, and tax status before closing.
Taxes and Fees
ISAI (Impuesto sobre Adquisición de Inmuebles) — Property acquisition tax. Paid by the buyer at closing. In Yucatán: 2% of the transaction value. In Quintana Roo: approximately 3–3.5%.
ISR (Impuesto sobre la Renta) — Income tax. In real estate: (1) paid by the seller on capital gains at time of sale; (2) paid by landlords on rental income.
Predial — Annual property tax. Paid to the municipio (local government) each year. Very low in Mexico compared to US/Canadian standards.
IVA (Impuesto al Valor Agregado) — VAT (Value Added Tax). Mexico’s 16% consumption tax. Generally does NOT apply to residential real estate purchases — but does apply to commercial property, some services (notary fees, architectural services), and some rental income situations. If someone tells you IVA applies to your residential purchase, ask them to explain specifically why.
Derechos de registro — Registration fees. Charged by the Registro Público to register the deed. Typically 0.3–0.6% of the transaction value, paid by the buyer via the notary.
Constancia de no adeudo — Certificate of no debt. Issued by the municipality confirming all predial (property tax) payments are current. Also issued by the condo association confirming maintenance fee payments are current. Required for every sale.
Property and Land Terms
Predio — Plot of land / parcel. The land unit as registered with the catastro.
Lote — Lot. The parcel of land, identified by its lot number in a subdivision.
Fraccionamiento — Subdivision / planned development. A developed area with defined lots and infrastructure.
Colonia — Neighborhood. The neighborhood or district where a property is located.
Manzana — City block. Properties are often described by their location on a specific manzana.
Superficie de terreno — Land area. The size of the land parcel.
Superficie construida — Built area. The size of the constructed structure.
Catastro — Property cadastral registry. The government database of all property parcels with their physical descriptions, boundaries, and cadastral values (used for property tax calculation).
Valor catastral — Cadastral value. The government-assessed value of a property for tax purposes. Usually significantly lower than market value.
Valor comercial — Market value. The property’s value on the open market.
Uso de suelo — Land use / zoning. Determines what a property can be used for: residential, commercial, industrial, mixed. Check this before buying if you plan any non-residential use.
Ownership Structures
Fideicomiso — Bank trust. The structure used by foreigners to hold property in Mexico’s restricted zone (within 50km of coastline or 100km of border). The bank holds title as trustee; you are the beneficiary with full use rights.
Fiduciario — Trustee (the bank). In a fideicomiso, the bank that holds the legal title.
Fideicomisario — Trust beneficiary. The foreign buyer who controls and benefits from the property through the fideicomiso.
Copropiedad — Co-ownership. Two or more people jointly owning property, each with a specified percentage interest.
Sociedad conyugal — Conjugal society / community property marital regime. Property acquired during marriage belongs to both spouses equally.
Separación de bienes — Separation of property marital regime. Each spouse independently owns what they purchase.
Usufructo — Usufruct. The right to use and enjoy a property without owning the title. Less common in standard transactions but appears in certain inheritance and estate planning arrangements.
Professionals
Notario público — Notary public. In Mexico, a highly trained, government-appointed legal professional who exclusively handles certain legal instruments — including all real estate transfers. Far more authority and role than a notary in the US/Canada.
Agente inmobiliario / Corredor — Real estate agent / broker. May or may not be licensed (Mexico has weak licensing requirements). AMPI membership indicates professional association affiliation.
AMPI (Asociación Mexicana de Profesionales Inmobiliarios) — Mexican Real Estate Professionals Association. The main industry body.
Perito — Expert / specialist. Used for appraisers (perito valuador), surveyors (perito topógrafo), and other technical experts.
Avalúo — Appraisal. The formal valuation of a property, typically performed by a licensed perito valuador.
Contador — Accountant. A Mexican accountant (CPA equivalent) who handles tax filings, RFC registration, and rental income reporting.
Construction and Renovation
Obra negra — Shell construction. A structure with walls and roof but no finishes, plumbing, or electrical.
Licencia de construcción — Building permit. Required before beginning any construction or renovation.
Constancia de terminación de obra — Completion certificate. Issued by the municipality after construction is inspected and approved.
Remodelación — Renovation. General term for remodeling work.
Plomería — Plumbing.
Instalación eléctrica — Electrical installation.
Aire acondicionado (A/C) — Air conditioning. Essential in Mérida.
Cisterna / aljibe — Water cistern. Storage tank for water — most Mérida homes have one due to variable water pressure.
How to buy property in Mérida step by step → Closing costs in Mexico → Notary vs real estate attorney → Can foreigners own property in Mexico? → Talk to an advisor →
This glossary covers common terms as used in Yucatán/Mérida real estate practice. Legal usage can vary slightly by state and by specific document. Always confirm term interpretations with your notary for your specific transaction.