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Public deed

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In the field of law , there are several documents that are essential to be able to give legality to the processes that are carried out between two or more parties, one of these documents is the public deed which must be carried out in the presence of a notary public .

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What is a public deed?

The public deed is a type of legal and notarial instrument by means of which it is possible to record that a certain contract or act of a legal nature has been made .

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  • Definition
  • Characteristics of a public deed
  • What is it for
  • Parts
  • How to do it
  • Cost
  • How to obtain a copy of a public deed
  • How to revoke a public deed
  • Regulation by country
  • How it differs from private deed
  • How it differs from the minute
  • Importance
  • Example

Definition

public deed is a type of document by means of which a notary can certify an event that is usually a contract . It is the notary who is in charge of reviewing the content and certifying that this document exists and the moment in which it has been signed by the parties that participate in it and the notary who participates in the process. It can also be defined as a document of a private nature by means of which a document is made public .

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Characteristics of a public deed

Among the main characteristics that can be found within a public deed, the following are mentioned:

  • It can include one or more statements by the people who are part of the agreement.
  • It must include the identity documents of the people who request it.
  • Once the public deed is signed, it is valid when the notary signs the document.
  • It must be registered in the Public Registry .
  • When the deed is signed, all parties must be present .
  • It contains two or more statements by the people who participate in it.
  • This type of document is totally irrevocable .

What is it for

The public deed is a document that serves to give validity to acts or contracts that are related to real estate and in situations that are related to the formation of companies or other types of legal businesses . It also serves to be able to record a certain fact before a notary who will be the one who gives the capacity to those who intervene in it to be part of it.

Parts

The parts that are part of a public deed are mentioned below:

  • Introduction : in this part of the deed, all the personal data belonging to the notary must be placed, as well as the data of the parties that are involved, it must also have the date on which it is carried out.
  • Documentary body : this part of the writing has two important sections. In the first of them are all the antecedents and the statements that the interested parties have and the second part is known by the name of device fragment and in it all the provisions related to the case are placed.
  • Conclusion : it closes all the information of the contract and also the signatures of the notary as well as the parties that are part of the deed are placed. Also included is the expression of the execution that includes all the solemnities of the law, in other words, the warnings.

How to do it

In order to make a public deed, it is necessary to have the signature of the founding parties or partners , this must be done before a notary public and in the presence of the parties or their legal representatives . Before the signing of the deed, you must request a certificate naming social before the Companies Registry where specified the name of the person is free and has not been given to someone else

After this document is issued, they have six months to be able to attend the notary to carry out the deed. They must provide identity documents , the certification , the bylaws and bank accreditation of the payment that has the capital. When they are Corporations , a report must be provided by an administrator establishing the valuation of all the assets that are contributed.

Cost

The costs that are generated at the time of making a public deed correspond to 0.54% of the value of the sale which must be paid in equal parts between the person who sells and the one who buys . Additionally, the seller who owns the property must also pay a Withholding Tax which corresponds to 1 % of the sale value .

How to obtain a copy of a public deed

The best way to obtain a copy of a public deed is to attend the notary who made the process, since it is he who is in charge of guarding the document. If the copy cannot be requested from the notary, one must be requested from the property registry providing the identity of the owner of the property, the identity document, the location of the home and the town or municipality in which the property is located.

How to revoke a public deed

In order to render a public deed without effect or validity, another rectifying public deed must be made and can be made through the declaration of the interested parties or by a decision by the judicial party.

Regulation by country

Mexico

It is governed by the Federal District Notary Law specifically in articles 60 and 82 where the protocol is also indicated. In order to grant this type of writing, the protocol must be fully extended and an extract must be extended where the appendix must be added to the complementary document.

Colombia

In the country, a notary must attest to the identity of the parties , provide the documents and the facts that are part of it. All declarations that are issued before a notary are valid and it is he who exercises his functions at the request of the interested party.

Argentina

In the country, the public deed must always express the act , the object , the names of the parties together with the surnames , their family or civil status , address and date . The notary will be responsible for giving faith to the grantors and after the deed is done, he must read it to the parties. It must also include the conditions , terms , clauses and designated amounts written in numbers.

chili

In Chile, public deeds must be prepared by a notary and it is he who is in charge of incorporating it into the Public Registry . They should also be written in Spanish and have a very clear and precise style , avoid the use of abbreviations and blank spaces.

How it differs from private deed

The main difference between the deed and the private is that the latter is done by holding the parts together incorporating the presence of two witnesses , meanwhile, the deed is that you can hold to the faith and in the presence of a notary public .

How it differs from the minute

The minute is a type of document of a private nature in which it is created by a lawyer and in which the document that has been sent is requested to be raised in the public deed . It is a document that mainly constitutes a transcript of the contract that has been entered into and then it is necessary to wait for the notary to raise the document as a public deed.

Importance

The public deed is one of the most important documents as it is a probative type document in which you can attest to a certain document. It is a very important document in the field of law because it is the best way to record a certain event.

Example

Some examples of public deeds are the following:

  • Public deeds for the purchase of a house.
  • Public deeds for the foundation of a certain company.

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