The Mexican Trust, also known as a fideicomiso, is a commercial contract governed by Mexico's general law of credit instruments and operations. It typically involves three parties: a trustor who transfers assets to a trustee to hold and manage in accordance with the trust's purposes. While the trustee holds legal title to the assets, they are meant to benefit the beneficiary. Trusts are created for specific purposes and trustees must act within the bounds of those purposes. Common uses of trusts in Mexico include land trusts for foreign real estate ownership, administrative trusts for estate planning and asset management, and guaranty trusts for securing loans. Overall, trusts provide flexibility for various personal and business purposes in Mexico.
Oefeningen op oplosbaarheid en oplosbaarheidsproductenTom Mortier
In deze presentatie zijn enkele specifieke oefeningen uitgewerkt over oplosbaarheid en oplosbaarheidsproducten zoals deze worden gegeven tijdens de oefeningenzittingen behorende bij het vak Niet Instrumentele Analytische Chemie aan het departement Gezondheidszorg en Technologie van de Katholieke Hogeschool Leuven.
Oefeningen op oplosbaarheid en oplosbaarheidsproductenTom Mortier
In deze presentatie zijn enkele specifieke oefeningen uitgewerkt over oplosbaarheid en oplosbaarheidsproducten zoals deze worden gegeven tijdens de oefeningenzittingen behorende bij het vak Niet Instrumentele Analytische Chemie aan het departement Gezondheidszorg en Technologie van de Katholieke Hogeschool Leuven.
Preserving wealth for future generations – the benefits of a trustRichard Cayne Meyer
There are important points to understand about what actually happens to the control of assets once they are placed in trust. For more info, visit - http://www.richardcayne.com/richard-cayne-meyer/preserving-wealth-for-future-generations-the-benefits-of-a-trust/
Comprehensive Reporting
The Comprehensive Securitization Audit Report was created in order to serve the various purposes of securitization audit – from seeking the most favorable terms in a loan modification to supporting legal action to delay or defend against foreclosure or to seek relief from unfair or unlawful practices by lenders, servicers, and related institutions.
This report is different because it includes a section that discusses the contemplated profit that was to be made by the participants from securitizing a loan. The figures used in the computations are gathered from actual documents. It also states how soon the lender recovered the full amount it originally lent to the borrower instead of the 30 years it usually takes for the loan to be fully paid from the agreed monthly amortizations.
The Comprehensive Audit Report was conceptualized to be what a real audit should be – independent and unbiased, with the auditor or examiner free of any interest in its outcome. It neither attempts to sensationalize its findings nor ignore the present economic ramifications of the crash of the housing market that securitization helped to unfold.
Insider Lease Agreements (Series: Fairness Issues in Real Estate-Based Bankru...Financial Poise
It is a common play in real estate to create a separate operating entity to serve as a tenant and execute a lease between the owner of the property and himself. Typically, this happens in assets which serve as a real estate-based business, such as a retail property. The structured enables the operator to reduce the taxable income of the business and also provide a liability shield for the property owner.
This arrangement can lead to some ethical issues, should the property owner become distressed. For example, is the lease amount above market and therefore being used to inflate the property valuation? Is rent actually being paid? Is there a proper lease in place or just an internal handshake? Attorneys need to understand the set-up in order to know what is in bounds and what is outside the lines.
To view the accompanying webinar, go to:https://www.financialpoise.com/financial-poise-webinars/insider-lease-agreements-2021/
It is imperative that you understand what each fiduciary role encompasses and what should be considered when making a decision about whom to appoint. Learn more about fiduciaries in this presentation
Why Trusts may be of Value
Trusts have generally been used to help people who fall into two basic categories: people who need financial assistance and people who are unable to manage their own money properly. Hence, trusts have been used to benefit children, those over the age of majority who are immature and otherwise unable to manage large sums of money, those with disabilities who aren’t able to manage their own affairs, and those with substantial creditors.
Powerpoint presentationDeliverable Length 5 - 7 slides with .docxChantellPantoja184
Powerpoint presentation
Deliverable Length: 5 - 7 slides with speaker notes of 200 - 250 words per slide (excluding Title and Reference slides) APA FORMAT
You, as a HR Generalist, have been asked by your HR Director for your recommendations in terms of what tools your organization could use to better manage the talents of your employees. This will help to develop policies and procedures in managing your human capital. Please develop a PowerPoint presentation to your Director addressing the following:
· Describe and analyze the broad range of talent management efforts that use software applications to help you Director to make an educated decision.
· Give some examples of firms that have successfully used these applications.
· Describe how these efforts are useful in terms of strategic human capital management.
Page | 1
Plaintiff in Pro Se,
ClearChoice Community Services Inc.
2736 Lyndale Ave S Suit e202
Minneapolis MN 55408
Telephone No.9522220251
STATE OF MINNESOTA
DISTRICT COURT
County of Hennepin
Judicial District:
Court File number:
Case Type:
ClearChoice Community Services Inc.
Plaintiff Pro Se
V
Caskecla Investment
THEODORE J MEYERS
JOHN DOE I-XX, et al.
Defendants
PARTIES TO THE ACTION
1. Plaintiff Pro se, ClearChoice Community Services Inc. (herein referred as Borrower/Plaintiffs) all times relevant have resided at 4816 Nicollet Ave S Minneapolis MN 55419
2. Defendant Caskecla Investment (herein after refreed to as Lender) having its place of business at 8271 SE Sanctuary Drive, Hobe Sound FL 33455
3. Defendant THEODORE J. MEYERS having its place of business at 1755 St. Marys Street lcon Heights MN 55113
4. Any allegations about acts of any corporate or other business of Defendants means that the corporation or other business did the alleged acts through its officers, directors, employees, agents and/or representatives while they were acting within the actual or ostensible scope of their authority.
5. At all relevant times, each Defendant committed acts, caused or directed others to commit the acts, or permitted others to commit the acts alleged in this Complaint; additionally, some of the Defendants acted as the agent for other Defendants, and all of the Defendants in connivance with each other acted within the scope of their agency as if acting as the agent of another.
6. Knowing or realizing that other Defendants were engaging in or planning to engage in unlawful conduct, each Defendant nevertheless cilitated the commission of those unlawful acts.
7. Each Defendant intended to and did encourage, cilitate or assist in the commission of the unlawful acts, and thereby aided and abetted the other Defendants in the unlawful conduct.
I. CTUAL BACKGROUND:
(a) In the present case, the Deed of Trust for the Property listed the borrower, as "ClearChoice Community Services Inc.," and listed the Lender, as "Caskecla Investment, “ The Caskecla Investment, was renamed Caskecla Investment and later on was clo.
The basics of the loan purchase and sale process is relatively straight forward, but like any transaction, the devil is in the details. Following are eight steps involved in the purchase and sale of loan assets followed by a discussion of the most common pitfalls to avoid throughout the transaction.
Preserving wealth for future generations – the benefits of a trustRichard Cayne Meyer
There are important points to understand about what actually happens to the control of assets once they are placed in trust. For more info, visit - http://www.richardcayne.com/richard-cayne-meyer/preserving-wealth-for-future-generations-the-benefits-of-a-trust/
Comprehensive Reporting
The Comprehensive Securitization Audit Report was created in order to serve the various purposes of securitization audit – from seeking the most favorable terms in a loan modification to supporting legal action to delay or defend against foreclosure or to seek relief from unfair or unlawful practices by lenders, servicers, and related institutions.
This report is different because it includes a section that discusses the contemplated profit that was to be made by the participants from securitizing a loan. The figures used in the computations are gathered from actual documents. It also states how soon the lender recovered the full amount it originally lent to the borrower instead of the 30 years it usually takes for the loan to be fully paid from the agreed monthly amortizations.
The Comprehensive Audit Report was conceptualized to be what a real audit should be – independent and unbiased, with the auditor or examiner free of any interest in its outcome. It neither attempts to sensationalize its findings nor ignore the present economic ramifications of the crash of the housing market that securitization helped to unfold.
Insider Lease Agreements (Series: Fairness Issues in Real Estate-Based Bankru...Financial Poise
It is a common play in real estate to create a separate operating entity to serve as a tenant and execute a lease between the owner of the property and himself. Typically, this happens in assets which serve as a real estate-based business, such as a retail property. The structured enables the operator to reduce the taxable income of the business and also provide a liability shield for the property owner.
This arrangement can lead to some ethical issues, should the property owner become distressed. For example, is the lease amount above market and therefore being used to inflate the property valuation? Is rent actually being paid? Is there a proper lease in place or just an internal handshake? Attorneys need to understand the set-up in order to know what is in bounds and what is outside the lines.
To view the accompanying webinar, go to:https://www.financialpoise.com/financial-poise-webinars/insider-lease-agreements-2021/
It is imperative that you understand what each fiduciary role encompasses and what should be considered when making a decision about whom to appoint. Learn more about fiduciaries in this presentation
Why Trusts may be of Value
Trusts have generally been used to help people who fall into two basic categories: people who need financial assistance and people who are unable to manage their own money properly. Hence, trusts have been used to benefit children, those over the age of majority who are immature and otherwise unable to manage large sums of money, those with disabilities who aren’t able to manage their own affairs, and those with substantial creditors.
Powerpoint presentationDeliverable Length 5 - 7 slides with .docxChantellPantoja184
Powerpoint presentation
Deliverable Length: 5 - 7 slides with speaker notes of 200 - 250 words per slide (excluding Title and Reference slides) APA FORMAT
You, as a HR Generalist, have been asked by your HR Director for your recommendations in terms of what tools your organization could use to better manage the talents of your employees. This will help to develop policies and procedures in managing your human capital. Please develop a PowerPoint presentation to your Director addressing the following:
· Describe and analyze the broad range of talent management efforts that use software applications to help you Director to make an educated decision.
· Give some examples of firms that have successfully used these applications.
· Describe how these efforts are useful in terms of strategic human capital management.
Page | 1
Plaintiff in Pro Se,
ClearChoice Community Services Inc.
2736 Lyndale Ave S Suit e202
Minneapolis MN 55408
Telephone No.9522220251
STATE OF MINNESOTA
DISTRICT COURT
County of Hennepin
Judicial District:
Court File number:
Case Type:
ClearChoice Community Services Inc.
Plaintiff Pro Se
V
Caskecla Investment
THEODORE J MEYERS
JOHN DOE I-XX, et al.
Defendants
PARTIES TO THE ACTION
1. Plaintiff Pro se, ClearChoice Community Services Inc. (herein referred as Borrower/Plaintiffs) all times relevant have resided at 4816 Nicollet Ave S Minneapolis MN 55419
2. Defendant Caskecla Investment (herein after refreed to as Lender) having its place of business at 8271 SE Sanctuary Drive, Hobe Sound FL 33455
3. Defendant THEODORE J. MEYERS having its place of business at 1755 St. Marys Street lcon Heights MN 55113
4. Any allegations about acts of any corporate or other business of Defendants means that the corporation or other business did the alleged acts through its officers, directors, employees, agents and/or representatives while they were acting within the actual or ostensible scope of their authority.
5. At all relevant times, each Defendant committed acts, caused or directed others to commit the acts, or permitted others to commit the acts alleged in this Complaint; additionally, some of the Defendants acted as the agent for other Defendants, and all of the Defendants in connivance with each other acted within the scope of their agency as if acting as the agent of another.
6. Knowing or realizing that other Defendants were engaging in or planning to engage in unlawful conduct, each Defendant nevertheless cilitated the commission of those unlawful acts.
7. Each Defendant intended to and did encourage, cilitate or assist in the commission of the unlawful acts, and thereby aided and abetted the other Defendants in the unlawful conduct.
I. CTUAL BACKGROUND:
(a) In the present case, the Deed of Trust for the Property listed the borrower, as "ClearChoice Community Services Inc.," and listed the Lender, as "Caskecla Investment, “ The Caskecla Investment, was renamed Caskecla Investment and later on was clo.
The basics of the loan purchase and sale process is relatively straight forward, but like any transaction, the devil is in the details. Following are eight steps involved in the purchase and sale of loan assets followed by a discussion of the most common pitfalls to avoid throughout the transaction.
On 12th November 2014 Gordon Stuart presented at the Kruger Lowveld Chamber of Business and Tourism networking breakfast. The topic under discussion was “Trusts and Wills – ‘A legacy or Liability’ - Pitfalls in Estate planning.
Know about the definition of Surety Bond and the Parties involved along with their roles. Be enlightened with the different types of a Surety Bond as well.
1. 1
The Mexican Trust (fideicomiso)
By: Jorge A. Garcia *
jgarcia@mdtlaw.com
210-220-1335
Martin & Drought PC.
www.mdtlaw.com
The Mexican Trust or better known as the fideicomiso is a commercial contract
governed by Mexico’s general law of credit instruments and operations (GLCIO). Like most
contracts in Mexico governed by a particular statute, the GLCIO includes a number of
mandatory provisions which means they can not be modified or waived, but also allows trusts to
include other contractual provisions, making them one of the most flexible types of contracts in
Mexico, and one that is widely used for many different purposes.
Generally speaking, the trust or fideicomiso normally consists of three parties; the trustor
or settlor, the trustee, and the beneficiary, although the beneficiary is not required in some trusts.
The trustor or settler can either be an individual or an entity, and it’s the party that usually
transfers title or management of certain assets, rights and benefits to the trustee, who holds them
in trust. The trustee is the party that holds the assets in trust, and the party that is given the
responsibility of performing and complying with the specific purposes and goals of the trust.
And last but not least, is the beneficiary, which although common, it is not a party that appears in
all trusts. The beneficiary of a trust is the party that stands to benefit from the assets and trust,
whether its by using and enjoying the assets, by having privileges or special rights to the assets
such as a security interest, or by receiving income from the assets, to name a few.
Most trusts require that title to the property in trust be held by the trustee, but that does
not mean trustees will consider those assets as part of their net worth or reserves. In fact, Mexico
has implemented rules that require trustees to keep separate accounting books for assets held in
trust. Other trusts simply require that assets be “affected” or “subject to” the trust, which means
that title may remain with the trustor.
Also due to statutory requirements, the trustee must always be a Mexican bank or
financial entity, and it must act in accordance with the trust’s purpose. Unfortunately, the
Mexican “bank” or “financial entity” requirement is probably the biggest reason why trusts are
not always viewed as a practical mechanism for some business transactions, as many Mexican
banks are either unprepared or unwilling to take on the responsibilities and duties within certain
trusts, especially when dealing with personal property.
2. 2
Like in many other jurisdictions, trusts in Mexico are always created for specific
purposes, and trustees are bound and limited to act in accordance with such purposes. However,
in practice, trustees usually take a passive role during most of the trust’s life, further allowing
management and other duties to be taken by the beneficiary or other third parties.
For most trusts to function, there is a prerequisite to transfer certain property to the
trustee, for its care and management. Trustees must exercise good faith and shall use diligent
and professional efforts to promote and protect the best interests of the assets in trust. Although
the trusts themselves will include a purpose and the trustee’s duties, trustees are always expected
to act as good “father figures”.
By law, trusts are considered irrevocable, unless otherwise provided in the trust itself, and
also by law, trusts can also hold most types of properties, and rights. When properties and rights
are transfer to a trust, the trustor may “hold-back” or “reserve” for itself, certain portions of a
particular asset, or only do so under a partial or limited assignment. This means the trustor may
also keep and maintain for itself, certain rights over the assets held in trust.
Creation and Formation.- Trusts must be in writing and must be prepared (or amended)
following the same formalities required for the transfer of the properties that will be subject to
the trust. For instance, if the property to be transferred to the trust is real property, then the trust
must be created with the same requirements as when real property is transferred in Mexico. That
includes the formalization of the trust in a public deed in front of a Mexican Notary Public.
Likewise, if the trust will hold personal property only, then it can be created by means of a
private contract and no public deed or Mexican Notary Public may be required for the formation
process.
Duration.- Trusts are normally for specific period of time and can not exceed 50 years,
except under certain specific cases when such term can be exceeded. Also, there are certain types
of trusts that can be extended, for instance land trusts which are discussed below. Furthermore,
trusts can terminate under various scenarios including the trust reaching its purpose, when such
purpose becomes impossible to satisfy, by agreement of the trustor and beneficiary, or when
revoked by the trustor, if the trust allows for such revocation, to name a few. Upon expiration,
and unless otherwise provided by the trust, the trust assets or the proceeds thereof will distributed
to the beneficiary.
Technical Committee.- Depending on the purposes of the trust, the trustee may require
either constant or specific supervision and/or direction, or simply certain assistance in satisfying
the trust’s purposes. This is accomplished by a governing body working in the form of a
committee, and its called the technical committee. It is typically appointed at the time the trust is
created or when amended. The committee’s job or duties can be specific or broad, as determined
by the parties creating the trust, or by the parties with authority to appoint and remove members
in the committee.
Different uses for trusts:
3. 3
I. Land trusts: Perhaps the most widely known use of a Mexican trust, especially
amongst Americans and other non-Mexicans, is the real estate or land trust for the restricted zone
for acquiring residential property. Under Mexican law, foreign persons and entities may not own
land that is located within the restricted zone, which is an area of 100 kilometers from either
border (north or south) and 50 kilometers from the coastline.
These types of trusts are commonly used by foreigners purchasing residential property in
tourist destinations like Los Cabos, Riviera Maya, Puerto Vallarta and Acapulco, to name a few.
These trusts can be for a term of 50 years and can be renewed or extended.
The formation process usually takes place by having the seller/developer act as the trustor
and by irrevocably transferring title to the property, to the trustee. The trustee then holds the
property for the benefit of the beneficiary. The beneficiary will normally have the unrestricted
right to enjoy and use the property, as well the benefit of any rental and sale proceeds, if and
when the trusts assets are sold, provided the trust allows it.
Before the land trust can be created, the trustee, a Mexican bank, applies for a trust
permit with Mexico’s Foreign Relations Department (FRD). The application process is
relatively simple. Information on the parties and the property is required as part of the
application process, together with the payment of an application fee. Under statutory provisions,
the FRD has 5 business days to respond all applications, although the term extends to 30 days if
the filing takes place at any of the FRD offices located outside Mexico City. Upon the issuance
of the trust permit, the parties are then free to formalize the creation of the trust by transferring
the real property in front of a Mexican Notary Public.
Like any other real estate transaction, the creation of a land trust will also require the
standard due diligence on the property, appraisals, inspections, title searches, the obtaining of
certificates of no-liens, certificates of no-debt (on property taxes) and any other customary or
statutory requirement under local and state laws for closing on real estate.
Another important feature of land trusts is that they allow the beneficiary to appoint a
“substitute beneficiary” at the time of the trust’s creation. Upon the beneficiary’s death, the
substitute beneficiary takes over, as the trust’s beneficiary, therefore saving considerable time
and money from an otherwise complex probate proceeding in Mexico.
Although the formation process for a land trust may seem relatively easy, and one where
little effort is needed, it is advised that beneficiaries negotiate as much freedom and flexibility
relative to the assets in trust, and that such terms be clear in the trust itself. Otherwise, the
involvement of the trustee will be required, and its is well known that banks can be slow and
bureaucratic. Generally speaking, beneficiaries will have the ability to use, and enjoy the
property.
However when it comes to renting, managing or making improvements, securing permits,
federal zone concessions, and the like, or other more specific actions, unless its negotiated and
included in the trust, beneficiaries may find out that they require the participation of the trustee.
4. 4
Trustees usually grant powers of attorney to beneficiaries to perform such actions, but the
granting process takes time, and money, although bank fees are mostly reasonable. Some banks
are more flexible than others when it comes to granting powers of attorney and their overall
response time, so its important to choose wisely who the trustee will be when the trust is set up.
To sum it up, the Mexican land trust is as safe as the deed to your home in the US or
Canada.
Other types of land trusts, including non-business trusts that create certain tax
advantages for US companies: Aside from the land trust used by foreigners to acquire
residential properties within the restricted zone, there are other types or variations of the land
trust. Developers whether acting alone or with other partners in joint ventures, may use land
trusts as part of their overall business structure. These land trusts may be required either to
segregate ownership of land from a business operation, to satisfy lenders requirements, or to
facilitate the ongoing operations with joint venture partners.
Foreign companies investing in land developments throughout Mexico, and not just in the
restricted zone, have favored the use of trusts because of certain tax and fiscal advantages. For
instance, a US limited liability company may decide to use a trust and become the beneficial
owner and lessor of real property located in Mexico. The US company will apply for its tax id in
Mexico, and elect to pay taxes on a net basis as provided under the US-Mexico tax treaty.
The trust will also provide that the beneficiary will be entitled sign lease agreements
relative to the assets in trust. These non-business land trusts also allow the beneficiary to enter
into construction, management, development and marketing agreements with third parties,
further enhancing the investment structure and control of the development.
In addition to any tax advantages that these companies receive in the US, some of the
advantages in Mexico include that the US company will not have pay withholding taxes on
interest payments, and will be able to take depreciation on 100% of the value of improvements
built on the site.
II. Administrative trusts: These types of trusts will generally revolve around the
administration and management of certain assets, and in certain instances, provide for payment
and distribution features.
They can either be used by individuals as part of an estate plan, or by corporations as
ways of managing their assets. Companies use these types of trusts to manage pension and
retirement plans.
The creation and formation process for most administrative trusts is no different from the
process discussed above. In other words, the creation process is driven by the type of assets being
managed. If its real assets, the creation is more formal with the participation of a Notary Public,
and if its personal property, its much simpler.
5. 5
These types of trusts are also commonly used by municipalities, states and even the
federal government, to manage all kinds of resources for different types of government programs.
They can range from trusts for education purposes, all the way to trusts that manage and run
infrastructure and development projects.
III. Guaranty trusts: Guaranty trusts are fairly new to Mexico. New legislation was
enacted in 2000 introducing guaranty trusts as another structure to secure collateral, furthermore,
the new legislation was clarified in 2004 removing many of the doubts and confusions created by
the initial legislation.
Guaranty trusts present many advantages to lenders and secured parties over other more
traditional types of guaranties for instance mortgages, for several reasons. First and foremost,
title to the collateral is with the trustee (and not with the debtor, under a standard mortgage), and
secondly, in the event of a foreclosure, special summary and out-of-court proceedings are
permitted, which are aimed at streamlining the entire foreclosure process.
Guaranty trusts are being used to secure collateral in all kinds of loans issued to
Mexicans and to non-Mexican borrowers. These types of trusts typically have two types of
beneficiaries, type A which are usually lenders (Mexican or foreign), and type B which are
usually the borrowers who will have restricted benefits under the trust, primarily to use, develop,
enjoy and profit from the property in trust and its uses.
Once the loans are paid off and there is no need for the collateral to remain in trust, these
trusts provide that type A beneficiaries disappear and remove any restrictions imposed on type B
beneficiaries, affording full unrestricted rights and benefits to the properties in trust to type B
beneficiaries.
Guaranty trusts have substantially impacted Mexico’s otherwise limited and expensive
Mexico based lending industry, specifically from the consumer / borrower’s perspective. They
have become the favorite guaranty vehicle for foreign companies and foreign banks lending into
Mexico and taking collateral in Mexico. Before the existence of the guaranty trust, foreign
companies and foreign banks lending into Mexico and taking collateral in Mexico were very
reluctant to participate in those markets. They faced much greater exposure and lengthy and
unfamiliar judicial foreclosures under more traditional guarantees like mortgages.
IV. Investment trusts: These types of trusts are generally advertised and used by the
banking and financial markets industry as an investment tools. The scope of investment trusts
may vary substantially from trust to trust, depending on the market that its designed for, but the
goal or purpose is almost always the same, to serve as an investment vehicle for the
beneficiaries.
V. Conclusions: The Mexican government has done an impressive job, yet to be
completed, by amending and introducing legislation that allows a greater and well accepted use
of the Mexican trust as a common tool for the community as a whole, whether on a personal or
on a business level.
6. 6
Banks have also done their part, although because of their greater participation as trustees
in Mexican trusts, they are held to different standards. The more common the trust becomes, the
more banks will become comfortable with the way it works. Training and support of their trust
departments should greatly contribute to the success of the Mexican trust.
If you read this entire article, next time someone says fideicomiso.... you will know what
they’re talking about.
This article is designed to provide information regarding the subject matter covered and
is not to be considered as legal advise by the authors. Each case should be reviewed on an
individual basis.
* Licensed to Practice in Mexico, partner with Martin & Drought PC., San Antonio,
Texas. March 2010.