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jwander

Feb 18, 2012, 10:03 AM

Post #1 of 5 (4815 views)

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More than one property in a fideicomiso ?

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Is it possible to put more than one property in a trust ? My wife and I bought a property 2 years ago and formed the obligatory trust. Now, we have found another we may be interested in purchasing. It is in the same State as the other property but not adjacent to it. Any info would be greatly appreciated.

Jeff

careyeroslib

Feb 20, 2012, 3:16 PM

Post #2 of 5 (4708 views)

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Re: [jwander] More than one property in a fideicomiso ?

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I don´t know the answer because even though we have two fideicomisos (same bank) for two different non-adjacent properties bought at different times, I never thought to ask the question. To me, fideicomisions are like deeds. If I have property X, I have a deed to X and with another property, I would have a different deed. Separate for all kinds of legal and taxation purposes which, to me, is a good thing. Just even in terms of cost, the property bought first has lower trust fees even though it with the same bank. So, I can´t imagine that even if I could combine the two it would be overall cheaper :) But, by all means ask your Notary. Sorry I can´t be of more help. Hopefully someone can give you a more definitive answer. Good luck.

Moisheh

Feb 21, 2012, 1:38 PM

Post #3 of 5 (4649 views)

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Re: [jwander] More than one property in a fideicomiso ?

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If the properties are adjacent they can be put on one trust. I think you have to change the title. Non adjacent cannot be on the same trust. Not a good idea anyway as if you went to sell the non adjacent lot a new trust would be required and lots of legal fees. I have a lot across the street and wanted it all on one trust. My notario said it could not be done.

Moisheh

sioux4noff

Mar 4, 2012, 8:43 AM

Post #4 of 5 (4305 views)

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Re: [jwander] More than one property in a fideicomiso ?

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When we bought a second non-adjacent properry we were told that it could not (or perhaps it was should not) be in 1 fideicomiso.
If the 2 were in 1, they would have to be sold together anyway, or creating the need for 2 new fideicomisos.

rockydog85251

Mar 4, 2012, 8:57 AM

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Re: [sioux4noff] More than one property in a fideicomiso ?

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Simple answer: NO
Willie