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Trouble getting your Trust or Deed  Rate Topic 
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 Posted: Sat Nov 30th, 2019 10:07 pm
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thefoxfamily
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How many folks out there are having trouble getting their Trust.  We paid in full for our home June 2016 and still have no trust in our name.  We understand that HSBC and Interaccion had problems; however, I have spoken to others that have had HSBC and got their trust over 1.5 years ago.
We were told by our realtor that no problem the home is ours, but others say "NO"   It would belong to whom ever has the trust.
Feel free to give any suggestions.:X .  THANKS

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 Posted: Sun Dec 1st, 2019 12:27 am
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maryt
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Sounds like your realtor is not doing his/her job. These things can take time depending on the state of the trust on the house when you bought it but your realtor should be bull dogging it and be able to tell you where you are in the process. Have you already paid the full commission to the realtor?

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 Posted: Sun Dec 1st, 2019 01:35 am
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Bullshipper
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The notary is usually in charge of securing the trust, not the realtor, in my experience. If I didn't have mine in 90 days I would be shaking some trees.

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 Posted: Sun Dec 1st, 2019 02:32 pm
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stephenjay
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My trust is currently in process, it has been a year, the notario is in charge, my trust is currently in Guaymas going from one government entity to the next, there is no motivation to process quickly, you see if you work in one of the offices job security is having a tall stack of papers on your desk, the stack says I am doing the best I can, hahaha.

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 Posted: Sun Dec 1st, 2019 03:22 pm
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Hook
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Our trust used to be through Interacciones, before they recently sold to Banorte. We got it about 11 years ago and had the documents back from Mexico City in just over 30 days. It was unheard of, at the time. About the only thing we can say bad about Interacciones, in all those years,, is that they were tardy in making changes in the details of our lives. Like when we moved in the States or when we changed email addresses. Those both took more than two tries to get changed. It didnt affect our trust, but it did affect getting important notifications from them.


At the time we initiated it, there were many horror stories about trusts taking years through Banamex, Bancomer and, yes, HSBC. In the subsequent years, some of those banks moved their trust offices far away in Mexico or closed them altogether. I remember hearing stories about lost documents by many individuals, especially with Bancomer. These same stories were circulating on social media from other parts of Mexico, so it was not confined to branches near San Carlos.


The town was also smarting from a scandal involving a very high profile real estate business in town that was accused by homeowners of putting themselves as beneficiaries on trust documents. This was sometimes discovered when the original owners died, which was a little too late.


There was also a very public situation where some realtors and homeowners in town were trusting a businesswomen in town with making their trust payments for them. She ran some type of "facilitating" business for transactions that persons who do not speak English felt uncomfortable doing, like servicing a trust. Turns out she was keeping the money, or so her clients said, when they approached their banks. There was no record of their payments with the bank. A few days after this news broke in town, her office caught fire and all her records were destroyed. 


I'm not certain if a notario is in charge of securing a trust or simply recording it. Whichever it is, the two biggest contributors to trust delays that I have heard about in this town (outside of actual fraud) are delays in the trust departments of incompetent banks and delays getting the trust recorded in Mexico City (and returned) by some governmental entity. I have always assumed that the Mexico City step is being handled by the notario, but I'm not certain about that. 


People whom I have known, that have had delays of more than a year, DO inquire with their notario, but the problem is always elsewhere, not their office, in my experience. See above. Yes, there were rather incompetent notarios back then (probably still are), but the one that virtually all real estate agents trusted the most was a notario named Ortega in Guaymas. 


These examples from the past are simply reasons why it is time to personally get yourself down to the notario's office or a person in the bank's trust department who is handling it and get some answers that you are apparently not getting from your realtor or bank. Try and get information as close to the source as possible. Whether that is the notario or the bank, who knows?


If everyone blames Mexico City, I don't know what, if anything, you can do about it. The bureaucracy in Mexico is legendary. World Class.

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 Posted: Mon Dec 2nd, 2019 01:34 am
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Bullshipper
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When I bought my place in Solimar, the previous 3 owners were not able to secure their trusts through a 20 year history and my notary had to work through that, plus cancel the original one from the 90's. I can attest that he was on the phone at least 3 times a week to the 3 different banks, and it took less than 90 days to get it done.

Last edited on Mon Dec 2nd, 2019 01:34 am by Bullshipper

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