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Esteban

Nov 30, 1919, 12:00 AM

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Fideicomiso Question

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Is there any reason why you have to have two fideicomiso's for each home that you own? Is it legal to have two homes on one fideicomiso? Or three?

Brian

Nov 30, 1919, 12:00 AM

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Fideicomiso Question

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EstabanI wouldn't worry about this too much since you will be down in August and can pay in person then. I went through a bit of stress with Bital a couple of years ago when they assumed my trust from Banco Atlantico. When I tried to make my yearly payment, they told me that even though they had the paperwork, their computers had not been set up to receive payments. Incredibly, I was in arrears over 12 months before they got their act together. No late fees, no nada, except a lot of anxiety on my part. saludos

DavidMTY

Nov 30, 1919, 12:00 AM

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Fideicomiso Question

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Hi Esteban, and thanks for the hand in the construction forum.I wanted to help you on this one, but confess general ignorance. Having various properties under one fideicomiso sounds perfectly fine, though (not a legal opinion), the following questions I would have:If you treat it as a package deal that is one thing, but if you acquire the properties at different times and then sell them at different times, each time you update, if this is allowed, the fideicomiso, my guess is you will need to present all the paperwork reconstituting it all over again. And if whoever handles your FC charges based on value contained, I can see a load of crap to go through every time, updated catastro for each property contained, etc., etc.So I suspect the transaction costs will result more costly as you reconstruct/deconstruct each time, probably causing new FC fees each time.But if you really and truly don't need the flexibility and are buying everything at the same time constitutiong it, and will sell the rights out only once at the same time to the same buyer in the future and that is a guarantee, I bet you are on to something.So I bet in theory you are fine, though in practice the costs might become prohibitive. I wish I could be more sure of what I suspect, but please treat my reply with two grains of salt. J some thoughts to check on really. I hope they are along the right line of thinking...
Best & Thanks...David(MTY): Is there any reason why you have to have two fideicomiso's for each home that you own? Is it legal to have two homes on one fideicomiso? Or three?