{"id":258,"date":"2013-04-26T15:17:24","date_gmt":"2013-04-26T20:17:24","guid":{"rendered":"http:\/\/www.topmexicorealestate.com\/brokers\/?p=258"},"modified":"2014-10-02T21:20:18","modified_gmt":"2014-10-03T02:20:18","slug":"mexico-bank-trust-new-law-a-summary-of-progress-so-far","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/brokers\/2013\/04\/mexico-bank-trust-new-law-a-summary-of-progress-so-far\/","title":{"rendered":"<!--:en-->Mexico Bank Trust &#8211; New Law; A Summary of Progress So Far<!--:-->"},"content":{"rendered":"<p><!--:en--><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" alt=\"Mexico real estate\" src=\"http:\/\/www.topmexicorealestate.com\/brokers\/wp-content\/uploads\/2013\/04\/Beachfront-property-in-Mexico-300x225.jpg\" width=\"300\" height=\"225\" \/>As most readers will probably know, Mexico&#8217;s government is currently considering a bill which would eliminate the need for ownership by means of a bank trust for non-Mexicans.<\/p>\n<p>&nbsp;<\/p>\n<p>Here I offer a summary of 3 longer articles from my other blog with links if you wish to read more.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Progress To Date, Future Steps<\/strong><\/p>\n<p>The following is a brief review of progress so far with some thoughts on how this will go:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>On Tuesday, the bill was passed by the Chamber of Deputies (their equivalent to the House of Representatives.)<\/li>\n<li>Currently, the bill is with the Senate.<\/li>\n<li>When (or if) it passes the Senate, it will go for approval in the state legislatures.<\/li>\n<li>For final approval, it will need the ratification of 16 states (out of 32.)<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>The reason for the state approval is that it is a modification to the Constitution. For a full discussion of these steps, see\u00a0Bill To Eliminate Bank Trust \u2013 What\u2019s the Next Step?.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>How Promising is It?<\/strong><\/p>\n<div id=\"attachment_259\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-259\" class=\"size-medium wp-image-259\" alt=\"Mexico real estate broker\" src=\"http:\/\/www.topmexicorealestate.com\/brokers\/wp-content\/uploads\/2013\/04\/Title-Deed-300x239.jpg\" width=\"300\" height=\"239\" srcset=\"https:\/\/www.topmexicorealestate.com\/brokers\/wp-content\/uploads\/2013\/04\/Title-Deed-300x239.jpg 300w, https:\/\/www.topmexicorealestate.com\/brokers\/wp-content\/uploads\/2013\/04\/Title-Deed.jpg 353w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-259\" class=\"wp-caption-text\">Owning beachfront property in Mexico may soon be easier &#8230;<\/p><\/div>\n<p>There are also questions about how likely it is to pass quickly, or at all. \u00a0While this is pure speculation, points suggesting it is promising to go through quickly include:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>The president has created a very strong cooperation between parties.<\/li>\n<li>Other constitutional amendments have gone through quickly under this government (since December.)<\/li>\n<li>The bill has the support of the 2 most influential parties.<\/li>\n<li>The Senate seems to be supportive.<\/li>\n<li>State parties usually &#8220;take orders from above.&#8221;<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>On the other hand, some observers are more skeptical saying it could take long to be passed, if it passes at all, for the following reasons:<\/p>\n<ul>\n<li>Previous attempts to change this law have flopped.<\/li>\n<li>There are numerous steps to go through and it is still in the first stages.<\/li>\n<li>There is no guarantee that the states will follow federal lead.<\/li>\n<li>Other drastic reforms may cause pressure on the gov. to hold off on some items (pressure from banks, large corporations, etc.)<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>For a full discussion of these possibilities, see\u00a0New Bank Trust Law \u2013 How Long Will it Take? How Promising?<\/p>\n<p>&nbsp;<\/p>\n<p>Right now, I am optimistic, but with reservation; the political climate is promising, but we can&#8217;t assume that it&#8217;s going to happen until we see how quickly it goes through the next stages and actually becomes law.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8212;<br \/>\n<strong>Thomas Lloyd<\/strong><em> 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 <strong>Mexico Real Estate Degree <\/strong>and <strong>Mexico Professional Real Estate License<\/strong> S.E.P. #5978657. He is the president of Top Mexico Real Estate. Contact him at<\/em> <strong><span style=\"color: #0000ff;\">(512) 879-6546<\/span><\/strong>.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>The <em><a title=\"Mexico Real Estate\" href=\"http:\/\/www.topmexicorealestate.com\/\" target=\"_blank\"><span style=\"color: #ff0000;\">TOP<\/span> Mexico Real Estate<\/a><\/em> Network; <em>&#8220;Mexico\u2019s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!\u201d<\/em><\/strong><br \/>\n<a href=\"http:\/\/www.topmexicorealestate.com\/property\/?n=awa-condos \" target=\"_blank\"><img decoding=\"async\" class=\"aligncenter\" alt=\"Awa Condos Playa del Carmen\" src=\" http:\/\/i255.photobucket.com\/albums\/hh138\/beatlo\/Banners\/promotion-3-units_zps03a3786f.jpg\" width=\"464\" \/><\/a><!--:--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As most readers will probably know, Mexico&#8217;s government is currently considering a bill which would eliminate the need for ownership by means of a bank trust for non-Mexicans. &nbsp; Here I offer a summary of 3 longer articles from my other blog with links if you wish to read more. &nbsp; Progress To Date, Future [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[169,63,53,73,65],"class_list":["post-258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-in-mexico","tag-buying-in-mexico","tag-buying-process","tag-fideicomiso-bank-trust","tag-mexican-law","tag-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mexico Bank Trust - New Law; A Summary of Progress So Far - Brokers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.topmexicorealestate.com\/brokers\/2013\/04\/mexico-bank-trust-new-law-a-summary-of-progress-so-far\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mexico Bank Trust - New Law; 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