FIDEICOMISO (real estate, mazatlan, notario) TRUST
A trust it´s an agreement entered into by and between seller and buyer, by which the seller (trustor or settlor) transfers the ownership of a real estate to a bank institution authorize by federal government (trustee) on the benefit of the buyer (beneficiary).
That’s how the buyer becomes an owner (trust ownership) of a real estate in the so called “restricted zone” (costs and boarders).
Restricted zone: properties (land) located within a strip of 100 kilometers (64 miles) along the country’s borders and fifty kilometers (32 miles) on the coastline (restricted zone).
It is important to mention that the beneficiary could be a foreign individual or foreign corporation or Mexican corporation that on its bylaws has a “Foreigner Admission Clause”. Also, please note that the beneficiary will appoint substitutes in case of death and the transfer process is simple.
The natural term for a trust is up to 50 years and it can be easily renewed upon request of the Beneficiary within 90 days prior to the expiration date.
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