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Author: Subject: Transfer real estate Trust
dragu
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Registered: 9-1-2021
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[*] posted on 9-12-2021 at 01:04 PM
Transfer real estate Trust


Has anyone ever transferred their trust from one bank to another?

[Edited on 9-12-2021 by dragu]
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cabobaja
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Location: South \"O\", Elias Calles, BCS
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[*] posted on 9-13-2021 at 11:26 AM


You can transfer a bank trust (fideicomiso). For example: If you hold title in a bank trust and you are selling your property, the purchaser
has the choice to either transfer the trust (Assignment of Rights) or
receive a new bank trust with a different bank. Most banks will allow
a transfer of trust. Some banks will not allow a transfer of trust if the
title is going to be held in a Living Trust or LLC. 3 years ago HSBC made the decision to exit the bank trust. Those that sold their property in title with HSBC were charged a cancellation fee and the purchaser had to
receive a new bank trust with a different bank. No assignment of rights.
As such, the Municipality of La Paz was charging a 2% fee, based upon the selling price to register the new bank trust after the HSBC trust was cancelled. Fast forward to now: HSBC will accept a assignment of rights to a purchaser , but not a Living Trust, HSBC will allow an LLC.
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Phil C
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Location: N. San Diego County/ Loreto Centro/Lopez Mateos
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[*] posted on 9-13-2021 at 12:11 PM


Closed out Scotia bank and renewed at Meifel? it's been a PIA. Almost done.

Supposedly due to Covid. Two Years and counting......

[Edited on 9-13-2021 by Phil C]
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charliemanson
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[*] posted on 9-13-2021 at 02:06 PM


we are on 2 years trying just reopen a closed corp.! all covid related and now, a new, less efficient govt has taken over and we run the biggest Laboratory in BCS! No possible way to open a secondary business that will help the masses.

Just have to roll with it as nothing here happens fast, and now even worse.
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