Fideicomiso

[Opatije]

Hola,

This is question is directed to Michele.

Michele, Could you please comment on the value of having fideicomiso done right away (your personal opinion/view is much appreciated)? I know that I don't have to have one but my name would never be on the title. What would happen if the developer/seller/fideicomitente goes "chapter 11" and you don't have (yet) your bank trust agreement in place?

Regards Opatije

[Mindbender]

If you have a direct question for a forum member you can also send a Private Message as in this case she obviously hasn't stumbled upon your post

Just click on her user name...

[Michele]

Thanks David, I had not seen this.
In answer, there is no reason not to apply for your "fide" as soon as possible. It has to done, takes time and there is no reason to put it off. On the otherhand, it will have no bearing on you or the property you have purchased if your developer/builder goes walk-about. It should be of some comfort for you to know that, unlike in the United States, if a developer fails to deliver a property, it is a criminal offense, punishable by time in the pokey. It is very important to do your research and purchase a property from a reputable source. Look at their past history, previous projects etc. Try to get references if possible and ask around.

[Opatije]

Michele,

Great info...Thank You

Opatije