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Simple English definitions for legal terms

fideicomiso

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A quick definition of fideicomiso:

Term: FIDEICOMISO

Definition: A fideicomiso is a type of trust established in Mexico for the purpose of acquiring property. The trust is managed by a Mexican bank, while the beneficiary (who may be the person who set up the trust) has all the rights and responsibilities of direct ownership. This means they can lease, sell, or pass on the property. A Mexican fideicomiso usually lasts for 50 years and can be renewed for another 50 years.

A more thorough explanation:

A fideicomiso is a type of trust established under Mexican law. It is used to acquire property in Mexico with a Mexican bank acting as the trustee and a non-Mexican person as the beneficiary. The property is held in the name of the trust, but the beneficiary has all the rights and obligations of direct ownership, including the power to lease, sell, or devise the property. A Mexican fideicomiso usually lasts for 50 years and can be renewed for another 50 years.

For example, if a non-Mexican person wants to buy a beachfront property in Mexico, they cannot do so directly. Instead, they must establish a fideicomiso with a Mexican bank as the trustee. The bank will hold the property in trust for the beneficiary, who has all the rights of ownership.

Another example is if a non-Mexican person wants to invest in a Mexican business that owns property. They can establish a fideicomiso to hold the property in trust for them, giving them the same rights as if they owned the property directly.

These examples illustrate how a fideicomiso can be used to allow non-Mexican persons to acquire and own property in Mexico, while complying with Mexican law.

fide-committee | fidei-commissarius

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JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
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