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 Moderated by: bartmanaz
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New Trust  Rate Topic 
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 Posted: Tue Mar 12th, 2019 09:02 pm
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GOIT
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Is there an Interacciones trust office in San Carlos?  Or another bank that offers trusts that is local?

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 Posted: Tue Mar 12th, 2019 10:58 pm
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goldin
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Interacciones is no longer at the Las Palmas center. However there is another trust office there. Don’t know its name. Sorry.

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 Posted: Wed Mar 13th, 2019 03:15 am
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Hook
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goldin wrote: Interacciones is no longer at the Las Palmas center. However there is another trust office there. Don’t know its name. Sorry.

Interacciones was bought out by Banorte recently. Is the trust office you are referring to in the Las Palmas plaza in the same office where Interacciones used to be?

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 Posted: Wed Mar 13th, 2019 09:14 am
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goldin
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Think so...

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 Posted: Wed Mar 13th, 2019 04:00 pm
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Hook
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If so, then it's likely that only a name change has occurred. We were appraised of the ownership change when we went and paid our Interacciones trust, earlier this year.

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 Posted: Wed Mar 13th, 2019 06:04 pm
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goldin
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Ok. So maybe you should know if you had Interacciones before. Did you get notice of the name change or did you have to get a new trust?

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 Posted: Wed Mar 13th, 2019 06:30 pm
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stephenjay
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I am in the process of getting a new trust from MONEX located in the Las Palmas center next to the water company, they offer a 50 year trust, I think the monthly fee is like $500 USD, I recommend them.

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 Posted: Thu Mar 14th, 2019 03:13 pm
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GOIT
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Thanks for the info, I'll be in town next week and check into Banorte and Monex.

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 Posted: Thu Mar 14th, 2019 05:48 pm
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Quido
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'Monthly' fee $500?

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 Posted: Thu Mar 14th, 2019 05:58 pm
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goldin
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Don’t think so. The fee we are paying is yearly, $600

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 Posted: Sat Mar 16th, 2019 03:11 pm
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mcjensen
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Hola,
 Any idea where one can go to pay the yearly Banorte house trust?

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 Posted: Sat Mar 16th, 2019 05:09 pm
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goldin
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You know it’s, for some reason, difficult to get informacion regarding what you owe.
They don’t send you statements, etc. Maybe it’s not all the banks, but mine, HSBC, it’s like pulling teeth. When the time comes to pay I have to make multiple calls to find out who has the information as to how much I owe, etc.

Here’s my help for you, mcjensen. The address and phone number + website. I had to remove the link as it grew too much. Just google Banorte for the address, etc.

I suggest you call them to find out who has your info. At least yourbank is local. Good luck.

Last edited on Sat Mar 16th, 2019 07:05 pm by goldin

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 Posted: Sat Mar 16th, 2019 06:24 pm
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Hook
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goldin wrote: Ok. So maybe you should know if you had Interacciones before. Did you get notice of the name change or did you have to get a new trust?

No. No new trust. Same rate as before. Same length. Same office, at least in December or January.


Someone is talking about getting a 50 year trust through Monex. I thought that's what they all have been for about 20 years, no matter the company. Ours is 50 year plus another 50 year, if desired.

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 Posted: Sat Mar 16th, 2019 07:01 pm
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goldin
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You may be right, but the way I understood it is the length of your trust depends on the length of the previous owners trust. The trust goes with the property...

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 Posted: Sun Mar 17th, 2019 02:05 pm
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long time resident
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When you purchase a property in Mexico, as a foreigner, you have the option of taking over the previous trust or getting a new 50 year trust. (usually depends on the amount of time left on the existing trust.) Stephen, no trust is $500 a month. Interacciones was taken over by Banorte, and you can pay in the same office.
Most trusts will run you between $400 a year up to $900 a year, depending on the bank. Some banks offer the same fee for the duration of the trust, and others continually raise their fee every few years or so. Any Realtor or Notary should be able to give you precise information about the trusts that the different banks offer.

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 Posted: Sun Mar 17th, 2019 02:15 pm
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goldin
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On that same note, is there an extra fee for requesting the 50 year trust? As compared to the regular fee for continuing the existing trust term. I’m assuming the 50 year trust would be new and incurs cancellation fees for the old too. Can you clarify? Thanks.

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 Posted: Tue Mar 19th, 2019 02:16 pm
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long time resident
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The seller would be responsible for the cancellation fee of the old trust. The buyer would pay the permit fee for 50 year trust, and the RNIE which is a government foreign investment fee. So yes, there are some start up fees, but if the old trust is with a bank that charges more,(and raisers their fees every 3 years or so) then you would be better off with a new bank that charges less fees, and doesn't raise them.

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