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FIDEICOMISOS BANORTE 2007
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Real-Estate Trust Agreements Within The
Restricted Area
Trust Services
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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area

Political Constitution of the United Mexican
States
Article 27 section I. The Mexican Political
Constitution provides that in no manner
foreigners may acquire the direct ownership of
land and water within an area of 100 KMS. Among
the borders and area of 50 KMS. Among the
beaches such area is identified as restricted
area.
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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
Foreign Investment Law
Article 11 As provided by article 11 of the
Mexican Foreign Investment Law, through trust
agreements foreigners are allowed to acquire
rights over Real-state within such called
Restricted Area The aforementioned is subject
to the prior authorization issued by the
Secretariat of Foreign Affairs.
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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
Foreign Investment Law Duration of the Trust
Agreements
Article 13 In accordance to the provided by
article 13 of the Mexican Foreign Investment Law,
the maximum duration of a trust agreement is 50
years, duration which is extendable.
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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
The Trust Agreement
By virtue of the trust agreement, the Trustee
(Institution) Receives one or more Real-state and
destines such estates to any lawful and
determined purposes in accordance to the purposes
entrusted. The Trust Agreement is a trusting
commission.
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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
Parties in a Trust Agreement
Trustor / Grantor Individual or legal entity
which transfers one or more Real-states through
the trust ownership. Trustee / Beneficiary
Individual or legal entity with the appropriate
capacity to receive the benefit granted by the
trust Agreement, being able to appoint several
trustees / beneficiaries to receive the benefits
simultaneously or successively. Trustee /
Institution Banking Institution who receives the
trust ownership of the Real-state for the benefit
of the Trustee / Beneficiary.
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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
Subject-Matter of the Trust Agreement
The subject-matter is constituted by the
Real-state transferred by the Trustor to the
Trustee (Institution), as well as the
constructions, buildings and improvements, if
appropriate, made by and on account of the
beneficiary.
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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
Purposes of the Trust Agreement
The purposes of the trust agreement are the
commissions granted to the Banking Institution to
be exercised in favor and for the benefit of the
Trustee / Beneficiary.
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DIVISIÓN FIDUCIARIA
Benefits of the Trust Agreement

• The benefits of this kind of trust agreements are
  the following
• The Trustee / Beneficiary acquires the right to
  use and enjoy the Real-Estate subject-Matter of
  the Trust Agreement.
• The Trustee / Beneficiary shall have the
  possession of the Real-Estate with all
  authorities to occupy it.
• Alternate Trustees / Beneficiaries may be
  appointed for the event of death, who shall enjoy
  the benefits in a simultaneous or successive
  manner.
• The Trustee / Beneficiary shall have the right
  to transfer its rights and to freely agree upon
  the contribution or payment.
• The Trustee / Beneficiary shall have the
  authority to instruct the Trustee / Institution
  to transfer the Real-Estate to individuals or
  legal entities with legal capacity to acquire
  them.
• Prior to the agreement with the Banking
  Institution, the Trust Agreement may be amended
  under the understanding that a prior
  authorization granted by the Secretariat of
  Foreign Affairs shall be necessary in order to
  amend the purposes and/or to increase the
  subject.matter of the Trust Agreement.

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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
Requirements for the incorporation of a Trust
Agreement
In order to incorporate a Trust Agreement, the
authorization from the Secretariat of Foreign
Affairs provided by the article 11 of the Mexican
Foreign Investment Law is required, and also it
requires to be granted before a Public Deed made
by a Mexican Notary Public, who is obligated to
assure the authenticity and lawfulness of the
transaction.
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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
Costs of the Trust Agreement

• The costs for the incorporation and effectiveness
  of the Trust Agreement are the following
• Acceptance of the Trustees office by the
  Institution USD 450.00
• Annual effectiveness paid in advance USD
  550.00
• Authorization from the Secretariat of Foreign
  Affairs 11,680.00 M.N
• Filling the Agreement before the National
  Registry of Foreign Investment 3,255.00
  M.N.
• NOTE Such amounts are subject to change without
  need of prior notice, therefore this document is
  not to be deemed as an public offer.

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DIVISIÓN FIDUCIARIA
Real-Estate Trust Agreements Within The
Restricted Area
Feel free to contact us at

ALEJANDRA COVARRUBIAS SANTOS.
Name
(999) 926.60.86 and 926.60.81
Telephone
alejandra.covarrubias_at_banorte.com
E-mail