dragu - 9-12-2021 at 01:04 PM
Has anyone ever transferred their trust from one bank to another?
[Edited on 9-12-2021 by dragu]
cabobaja - 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.
Phil C - 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]
charliemanson - 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.