Our legislation defines a trust as a legal act by virtue of which a person called the trustor transfers assets or rights to a person called the trustee, who undertakes to administer or dispose of them to fulfill a purpose determined by the trustor.
This purpose may be in favor of a beneficiary, who may be the trustor himself, or in support of the fulfillment of a mission determined by the trustor. The transfer of goods or rights is temporary.
- Trustor: Is the person who provides the equity and the owner of the goods object of transmission.
- Trustee: Is the institution in charge of managing this equity.
- Beneficiary: The beneficiary or beneficiaries who receive the assets that constitute the trust.
This tool offers excellent advantages, such as:
- It allows for a more organized estate planning when managed under this figure.
- Procedures for the return of the property.
- The trust property becomes unattachable/unaffordable.
- It may be used to finance the purchase of a building.
- The mortgage figure may be replaced by that of the trust.
- The goods are transferred to a third party (FIDUCIARY), under the heading of Fiducia. This third party has a license supervised by the State.
- In guarantee trusts, no transfer taxes are paid at the time of transfer to the trustee or at the time of return to the trustor.
- In the event of execution, it shall be issued, avoiding proceedings before courts of law.
- You can give a quick sale to the market value of the goods provided in warranty.
- Savings on professional judicial fees.
Through this trust, it is guaranteed that your assets will be managed, organized, ordered, and supervised by an administrator or trustee who will follow the instructions and objectives set forth in the contract, providing the assurance that your assets will be administered indisputably. So Through this type of trust, hereditary or testamentary assets and projects can be managed.
What assets can be placed under this trust?
The following assets can be placed:
- Real estate and furniture
- Shares and company rights
- All operations carried out for the proper administration of a company such as payroll, bank accounts, company inventory, among others.
It is a type of trust contract that replaces the traditional will, which allows transferring the estate object of the trust to the trustee so that at the death of the testator, settlor, the assets can be distributed to the beneficiaries or trustees, thus avoiding the succession process, saving time, money and possible lawsuits.
This trust has the purpose of managing or developing a project for the construction and sale of the units built. Through this figure, the trustor transfers the property (investment) to the trustee who will be obliged to exercise for the benefit of whoever is designated as the beneficiary and transmit it to the compliance with the term or condition to whom it is available.
Its advantages are:
- The equity pledged as collateral is unattachable, since the assets given in trust. (everything that is part of the real estate project) constitute equity separate from the personal assets of the trustors and the trustee.
- It is a financing alternative.
- Allows for conflict resolution to take place out of court within the business.
- Abbreviate the terms for the recovery of investments.
- The trust’s equity is only liable for the debts generated in the business itself.
- To these advantages are added those of the trust.
This trust replaces the traditional figure of the mortgage and antichresis. Using this figure, the Trustor, who may be the Debtor or its Guarantor (a third party), grants a guarantee on real estate, personal property, or rights, transferring them in capital to the trustee, guaranteeing compliance with the debtor’s or trustor’s obligations, in favor of the creditors or beneficiaries.