FIDEICOMISO OR BANK TRUST
foreigner or Mexican National can constitute a Fideicomiso
(the equivalent to an American beneficial trust) through a
Mexican bank in order to purchase real estate anywhere in
Mexico, including the Restricted Zone. To do so, the buyer
requests to Mexican bank of his/her choice to act as a trustee
on his/her behalf.
bank, as a matter of normal course, obtains the permit from
the Ministry of Foreign Affairs to acquire the chosen property
in trust. The Fideicomiso can be established for a maximum
term of 50 years and can be automatically renewed for another
50 year period. During these periods you have the right to
transfer the title to any other party, including a member
of your family.
bank becomes the legal owner of the property for the exclusive
use of the buyer/beneficiary who has all the benefits of a
direct owner, including the possibility of leasing or transfering
his/her rights to the property to a third party or to a preappointed
heir. During this period, the foreigner is considered as a
trustee is responsible to the buyer/beneficiary to ensure
precise fulfillment of the trust, according to Mexican law,
assuming full technical, legal and administrative supervision
in order to protect the interests of the buyer/beneficiary.
"Fideicomisos" are not held by the trustee as an
asset of the bank.
practical purposes, even in unrestricted zones many foreigners
and Mexican Nationals, for that matter, prefer to hold their
property under a Fideicomiso.
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material is based upon information which we consider reliable,
but because it has been supplied by third parties ,we cannot
represent that it is accurate or complete, and it should not
be relied upon as such. This offering is subject to errors,
omissions, change of price or sale withdrawal without notice.