Trust Revocable Agreement With Mexico
Description
How to fill out Florida Living Trust For Husband And Wife With No Children?
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FAQ
Trusts created in foreign countries and governed by foreign laws are generally recognised in Mexico if the trusts are legally effective under the relevant foreign law.
The unique circumstances of each family must be considered before a final decision is made. Conclusion. Unlike many jurisdictions, Mexico not only recognizes the existence and uses of Trusts, but will enforce United States Trusts in certain circumstances.
In the simplest terms, a Fideicomiso is a bank trust that allows you to invest in any Mexican property and own it as a beneficiary. Its main idea is that you have all the rights of real estate ownership while a Mexican bank holds the legal title to it as your trustee.
Downsides of a Fideicomiso There are fees associated with the creation of the trust, as well as annual fees for the maintenance of the trust. These fees can add up over time and may make owning a property through a Fideicomiso more expensive than owning it outright.
Mexico is one of the few civil law countries that recognizes trusts and will even enforce U.S. trusts in certain circumstances. It's possible, albeit complicated and expensive, to have a trust created in the U.S. that will cover property in Mexico.