How does this trust (fideicomiso) work?
The fideicomiso is much like any other American trust. While the bank, acting as the trustee, becomes the official owner of the property, you become the beneficiary. Under this agreement, as the beneficiary you retain and enjoy all rights of the property. This includes, but is not limited to, the right to occupy, rent, repair, or sell the property. The trust is for 50 years and is renewable for additional 50-year periods. In setting up the fideicomsiso with a Mexican Bank, there is a trust set up fee and an annual fee as well. We require a Guarantee Trust on all of our loans regardless of the location of the property.
