# Mexican property trust



## [email protected] (Nov 12, 2017)

Hello y buenos noches. This is my first post on this Mexico expat forum. Do any of you expat property owners ( a home with land eg. ) have your property covered by a Mexican Trust? ( I am NOT referring to properties WITHIN the restricted zone, but only those properties outside the restricted zone & with an Escritura Publica. ) My understanding, and from some reading, is that having your Mexican property covered by a Mexican Trust is a better hassle free solution, in contrast to "thinking" your USA Trust will cover your Mexican property and your wishes. ( I am not an attorney, so my vocabulary is not using the proper legal terminology. ) I own a home in San Cristobal de Las Casas, and would appreciate your suggestions, experience, and perhaps a referral ( local or USA based trust attorney). Muchas gracias, y con a sonrisa . Tony ( btw, I also take Spanish lessons during each visit, so there I am also just learning. )


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## eastwind (Jun 18, 2016)

So you're talking about how the mexican property gets handled when you pass away? I.e. you're talking about using a Mexican Trust for estate purposes?

I consulted a lawyer when I first moved here and I recall discussing with her whether my assets in mexico (other than a house, I would be renting) needed any special treatment or could just be covered by my US will. Her opinion was a trust would only be worth it for significant assets, maybe if I owned a boat worth more than 40k was the example she used.

Extending that a bit, if your house that doesn't require a trust because it's not near the coast is worth more than 40k, maybe a trust for estate tax purposes would be worth it.

But here's where I don't know whether there are multiple kinds of trusts in Mexico or just the one kind that is used for people who buy homes in the restricted zone. The ones for restricted-zone ownership are administered by a bank, and they charge annual fees. So if you have to use that kind of trust, then it will have an annual cost, not just a one-time set-up cost.

I suspect most of the non-lawyers on this forum will tell you that you don't need it, because they don't have one. But they haven't died yet to test it out, so the real best advice here is to consult a Mexican lawyer with knowledge in this area. If you can find someone on the forum who's already gone through the process, their advice is probably good.

Keep in mind there are abogados and notarios in Mexico. Both are "lawyers", but they are different.


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## RVGRINGO (May 16, 2007)

It is a *Notario* that is needed for trusts, wills, deeds, etc.


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## surabi (Jan 1, 2017)

Rather than a trust for your property, since you say the property is not in an area that requires one (and those that require them in the restricted zones essentially means that the bank owns your property), my suggestion is that you engage the services of a Mexican notary and have a Mexican will drawn up and registered that directs how you would like your property, vehicles and possessions to be distributed. This will be much less expensive.


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## [email protected] (Nov 12, 2017)

Hola, y buenos dias eastwind, rvgringo and surabi. Thank you. I am thinking about this for when I pass away, so that I can have the property sold and funds directed by executor per my wishes ( pay all taxes, commission, etc., balance of funds then transferred to USA). I did considered going back to the notary who drew up the Escritura Publica ( with the assist of an individual who is fluent in both Spanish & English ( facilitor? ). Have received a "quote" from Mexican Law attorney ( San Diego & Ciudad de Mexido offices) at $1000.00 usd retainer, yet that was just to get started. I paused at that number. Muchas gracias, and appreciated your comments. Thank you, con a sonrisa. Tony


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## eastwind (Jun 18, 2016)

$1000 retainer for a US lawyer is not that unusual, and you should expect to use that up and more. The question you should ask is what their billing rate per hour is, since everything they do is measured in time (usually 6 minute intervals) and billed in dollars per hour (divided by 10 for every 6 minute interval). For a will they will bill you several hours of labor. I've never understood why, they're mostly just filling your name into a standard form they have, but it's like they're charging you to invent every "shall" from scratch. Cheaper lawyers may offer a fixed-fee will "package", but it will still cost you $500+. 

California lawyers in particular bill at high rates, but anywhere in the country they're probably going to bill at $200+ per hour. I had a high-priced lawyer in Seattle quote me $650 per hour (I went elsewhere).


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