{"id":6338,"date":"2013-04-25T14:01:42","date_gmt":"2013-04-25T20:01:42","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/temp-blog\/?p=6338"},"modified":"2017-08-28T16:21:07","modified_gmt":"2017-08-28T21:21:07","slug":"bill-to-eliminate-bank-trust-whats-the-next-step","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2013\/04\/bill-to-eliminate-bank-trust-whats-the-next-step\/","title":{"rendered":"Bill To Eliminate Bank Trust – What’s the Next Step?Reforma al art\u00c3\u00adculo 27, \u00c2\u00bfqu\u00c3\u00a9 sigue?."},"content":{"rendered":"

\"MexicoOn Tuesday afternoon, we shared the exciting news that Mexico’s Chamber of Deputies (equivalent to House of Representatives) passed a bill to allow for direct ownership of Mexico real estate<\/a>\u00c2\u00a0by non-Mexicans, eliminating the need for ownership by means of a bank trust.<\/p>\n

Yesterday, I did some research on the remaining steps. \u00c2\u00a0While passing the Chamber of Deputies was an important and significant first step, there are still multiple steps in the process.<\/p>\n

Background of the Bank Trust<\/strong><\/p>\n

Just as a quick refresher, Mexico’s Constitution (article 27) currently prohibits non-Mexicans from directly owning property within 30 miles of the coast or 60 miles of an international boarder.<\/p>\n

To allow foreign ownership of Mexico beachfront properties<\/a>,\u00c2\u00a0Mexico offers ownership by means of a Bank Trust, in which a Mexican bank holds the title of the property, and the owner is listed as the second beneficiary with all rights of full ownership guaranteed.<\/p>\n

Proposal for Change Passes the Chamber of Deputies<\/strong><\/p>\n

<\/strong>The reason for the Constitutional restriction on ownership is an outdated protection against foreign invasion or rebellion by foreign land owners. \u00c2\u00a0For this reason, it only makes sense to change this article and update it to the current situation – i.e. make it easier for foreigners to own property since this brings economic benefits. \u00c2\u00a0The proposal for change passed by the Chamber of Deputies on Tuesday\u00c2\u00a0by a considerable majority of\u00c2\u00a0\u00c2\u00a0356 to 119.<\/p>\n

Next Step – The Senate<\/strong><\/p>\n

As many Mexican news sources have pointed out, and as I mentioned on Tuesday, the next step is for the bill to be reviewed and voted on by the Mexican Senate.<\/p>\n

From what I understand, there is a possibility that the Senate will make changes and return the\u00c2\u00a0bill could to the Chamber of Deputies, although such a second review will not necessarily take long.<\/p>\n

Take a look at this flow chart which shows the required steps for Constitutional reform in Mexico:<\/p>\n

\"Mexico
\n(“Dictamen” means “bill.” The graphic shows that there could be as many as 11 stages. \u00c2\u00a0Currently this bill is in the third. From what I understand, It is entirely possible that 4,5 and 6 could be bypassed if the Senate approves the current version.)<\/em><\/p>\n

Final Steps – State Approval<\/strong><\/p>\n

\"MexicoAs the flow chart shows, and as has been pointed out in several U.S. media sources, such as Washington Post<\/a>, since this bill is proposing a modification (or “reform” as Mexicans say) to the Constitution, after<\/em>\u00c2\u00a0receiving approval of the Senate, it must also \u00c2\u00a0be approved by the legislatures of the majority of the states.<\/p>\n

The state process is simpler with only one legislative house (the state deputies, or “regidores” as they’re called.) \u00c2\u00a0In this case they will simply vote to approve or disapprove, without the possibility of changes.<\/p>\n

There are 31 states and the Federal District, which means it would need the approval of 16 state legislatures<\/strong>.<\/p>\n

Summary<\/strong><\/p>\n

So, to summarize:<\/p>\n

Chamber of Deputies approval – passed!<\/strong><\/p>\n

Senate approval – pending but very promising<\/strong><\/em><\/p>\n

Possible changes and return to Deputies – pending<\/strong><\/em><\/p>\n

Approval of 16 state legislatures – pending<\/strong><\/em><\/p>\n

Tomorrow I will share some opinions (including my own) about whether this will be quick, slow or simply stall.<\/p>\n

—<\/p>\n

Thomas Lloyd<\/strong> graduated from Purdue University Krannert School of Management with a degree in Management\/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 16 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree <\/strong>and Mexico Professional Real Estate License<\/strong> S.E.P. #5978657. He is the president of Top Mexico Real Estate. Contact him at<\/em> (512) 879-6546<\/span><\/strong>.<\/p>\n

The TOP<\/span> Mexico Real Estate<\/a><\/em> Network; “Mexico\u00e2\u20ac\u2122s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!\u00e2\u20ac\u009d<\/em><\/span><\/strong><\/p>\n

\"Awa<\/a>\"Mexico<\/p>\n

Ayer compart\u00c3\u00adamos con ustedes la noticia de la posible reforma al art\u00c3\u00adculo 27 de la constituci\u00c3\u00b3n mexicana que permitir\u00c3\u00ada a los ciudadanos extranjeros comprar propiedades en M\u00c3\u00a9xico en las \u00c3\u00a1reas costeras del pa\u00c3\u00ads (playas), algo que hasta hoy se encuentra prohibido por el acta firmada en el a\u00c3\u00b1o de 1917, como medida precautoria ante una posible invasi\u00c3\u00b3n extranjera. Una ley que claramente ha quedado obsoleta.<\/p>\n

Si bien es cierto que en la teor\u00c3\u00ada la compra de bienes inmuebles en las playas del pa\u00c3\u00ads est\u00c3\u00a1 prohibida para personas extranjeras, en la pr\u00c3\u00a1ctica esto es mentira. A trav\u00c3\u00a9s de maniobras legales se puede poseer propiedades a trav\u00c3\u00a9s de los denominados “fideicomisos”, que no son m\u00c3\u00a1s que contratos legales entre instituciones financieras (bancos) con los propietarios, esto es, el banco retiene el t\u00c3\u00adtulo de la propiedad por el extranjero y este a su vez, mantiene los derechos totales sobre ese fideicomiso.<\/p>\n

\u00c2\u00bfQu\u00c3\u00a9 es lo que se propone con esta reforma?<\/strong><\/p>\n

Con esta reforma al art\u00c3\u00adculo 27 lo que se pretende es regularizar el uso de estos “fideicomisos”, que en general, no benefician a nadie m\u00c3\u00a1s que a los mismos bancos. De esta forma los extranjeros que busquen invertir en los bienes ra\u00c3\u00adces en M\u00c3\u00a9xico<\/a> tendr\u00c3\u00a1n mayor certeza legal, podr\u00c3\u00a1n realizar los tr\u00c3\u00a1mites mucho m\u00c3\u00a1s r\u00c3\u00a1pido, y sobretodo, podr\u00c3\u00a1n ahorrarse una gran cantidad de dinero para poder hacerlo. La idea es sencilla, simplificar el proceso de compra-venta en el sector inmobiliario tur\u00c3\u00adstico. Algo que ayudar\u00c3\u00a1 a darle el peque\u00c3\u00b1o impulso que necesitaba.<\/p>\n

\u00c2\u00bfQu\u00c3\u00a9 sigue?<\/strong><\/p>\n

Bien, la ley ya ha sido aprobada por la c\u00c3\u00a1mara de diputados, con 356 votos a favor y 119 en contra, y ahora pasar\u00c3\u00a1 al senado para su revisi\u00c3\u00b3n y posterior aprobaci\u00c3\u00b3n o rechazo. De ser aprobada tendr\u00c3\u00a1 que ser sometida a votaci\u00c3\u00b3n en los congresos estatales, dado que es una “reforma a la constituci\u00c3\u00b3n”, y deber\u00c3\u00a1 ser aceptada por la mitad m\u00c3\u00a1s uno de los congresos. En este caso se requieren que por lo menos 16 estados la aprueben.<\/p>\n

\"Mexico
\nOptimismo frente a la ley.<\/strong><\/p>\n

\"MexicoDado que la ley est\u00c3\u00a1 siendo impulsada y promovida por los partidos Revolucionario Institucional y Acci\u00c3\u00b3n Nacional (PRI y PAN) la ley tiene grandes posibilidades de ser aprobada en las pr\u00c3\u00b3ximas semanas. Siendo ambos partidos mayor\u00c3\u00ada en ambas legislaturas (c\u00c3\u00a1mara de diputados y senadores) as\u00c3\u00ad como en 28 de los 32 estados, las posibilidades de que esta reforma sea aprobada son grandes. Habr\u00c3\u00a1 que esperar sin embargo, a la resoluci\u00c3\u00b3n final del senado. Esto es, esperar a ver si hacen correcciones o adiciones a la ley para su devoluci\u00c3\u00b3n a la c\u00c3\u00a1mara baja. Mientras estaremos al pendiente de lo que pueda suceder.<\/p>\n

Recordemos que esta ley beneficiar\u00c3\u00a1 tanto a desarrolladores como vendedores particulares en las zonas costeras del pa\u00c3\u00ads, pues su mercado est\u00c3\u00a1 enfocado en gran medida a los agentes internacionales.<\/p>\n

www.topmexicorealestate.com<\/a> la empresa l\u00c3\u00adder en bienes ra\u00c3\u00adces en M\u00c3\u00a9xico.<\/strong><\/p>\n

\"Awa<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday afternoon, we shared the exciting news that Mexico’s Chamber of Deputies (equivalent to House of Representatives) passed a bill to allow for direct ownership of Mexico real estate\u00c2\u00a0by non-Mexicans, eliminating the need for ownership by means of a bank trust. Yesterday, I did some research on the remaining steps. \u00c2\u00a0While passing the Chamber […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1858,746,5],"tags":[979,96,503],"class_list":{"0":"post-6338","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-living-and-retirement","7":"category-mexico-fideicomiso-bank-trusts","8":"category-mexico-oceanfront","9":"tag-constitution-of-mexico","10":"tag-mexico-bank-trusts","11":"tag-mexico-politics","12":"entry","13":"has-post-thumbnail"},"_links":{"self":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/6338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=6338"}],"version-history":[{"count":5,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/6338\/revisions"}],"predecessor-version":[{"id":14712,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/6338\/revisions\/14712"}],"wp:attachment":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=6338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=6338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=6338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}