Living in Nayarit,Mexico

General Information on Nayarit,Mexico

This page is general information on the state of Nayarit,Mexico.

Resources for climate, maps, a few laws and comments.

If you would like more information, please contact me. 

arlamacias@hotmail.com

Thank you,

Arla

How Does Property Inheritance Work  or a GOOD Reason  to NOT Ignore FIDECOMISO.

Your fidecomiso document names your beneficiaries in the event of your death. The notary will request this information and your heirs will be named in the escritura filed in the public registry. This fidecomiso then becomes your will for the property you are purchasing. You are the primary beneficiary named in the fidecomiso and receive the right to buy, sell, remodel, rent, gift from the Mexican bank administering your trust. The secondary beneficiaries are the persons you name as your heirs who will receive the property upon your demise. Their inheritance of your property through this instrument does not require additional transfer or acquisition taxes at this time. The heirship you name in the fidecomiso is superior to other documents, such as separate wills in Mexico or elsewhere.

Your heirs do not have to pay for a new trust, as they are already named in the existing fidecomiso. In order to amend the trust, the bank needs to be notified whereby the new primary beneficiaries are named in a letter signed by the bank and properly certified.

If your beneficiaries have died and you have not changed your fidecomiso, you have no heirs named for your property in the document. A separate will can then be considered as your directive. You may choose other secondary beneficiaries and amend your fidecomiso properly. You can also change your mind and replace the existing secondary beneficiaries. You have to amend the trust to correctly do this. The bank will charge for this additional work.