Thursday, July 15, 2010

Who has seen the fideicomiso?

The weeks go by here punctuated by plans and pictures. We joke about the identity of the strangers who appear in the mock-up images of our future renovated house. Who's the glamorous woman in stilettos in our bedroom? Who's the guy in the red trunks in the shower?  They are a lot like the Sims characters our daughter used to create, only their backstory is more of a mystery.
Meanwhile other messages from Merida contain tantalizing references to it being "time for the beach." I read somewhere that things slow down in the next month and many offices close down. I was obviously, typically, over-optimistic in my earlier anticipation that actual renovations would be well underway before the end of the summer, but it doesn't really seem to matter at all. I'm usually rush-rush, but maybe I'm experiencing mananafication, without even being anywhere near the Yucatan. I think that's part of the reason for this whole project, so it seems to be working.
Except...the architect now needs paperwork to move to the next stage. Presumably for construction approvals. I know, I should know the details. They need the fideicomiso (for the uninitiated, this is the document for the bank trust which holds title to the property). They also need a "cedula catastral "and "croquis catastral". These are words I never encountered in my previous Spanish classes and I keep going back to Google Translate to try to figure out exactly what a cadastre or catastre is, in this context. Some kind of ownership/land description certificate?
Whatever the translation, I clearly don't have them. I know the fideicomiso wasn't ready yet, last time I was in Merida to pick up the keys to the house and start getting it into shape, pre-renovation. I didn't really mind. I wasn't sure what to do with it. The one my realtor showed me was a huge binder full of pages. Am I supposed to keep it with me in Canada, or should our property manager keep it? It doesn't seem like the kind of thing to leave in an empty house. It seemed safer with the lawyer or the realtor until I figured this out. Still, I had some of those anxious feelings, kind of  like the dreams you have about forgetting your baby in the mall.
Anyway, I check on the location of the fideicomiso and other mystery documents, and it seems the lawyer hasn't received them yet. It's nearly 4 months after the sale closed, and he says it normally takes 3-4 months for the fideicomiso to arrive. I guess we'll see if it shows up soon, or perhaps we'll have some delays while the city shuts down for beach time.


  1. Pretty much anyone who can leaves for the beach from mid July until school starts in late August. Not much will get done.

    The catastral is the plot from the municipalidad saying exactly where your property is and listing all the dimensions and official location. It also gives the name or names of the owner - it is proof you own the property although the fidei bank may be listed as well. You need it for the permits and for almost anything you do about the property with the city including paying the taxes - however they will look it up for you to take your tax money. I think the cedula catastral is the written part and the croquis catastral is the sketch of the block showing the property boundaries.

    Don't make the mistake I did and call it a castrato :) I got the most amusing looks from the architect when I kept asking where that was.

  2. We don’t have our fideicomiso or any of the other documents you mentioned yet either, and we closed a little before you. But I know it’s in the works, because I received a letter in the mail the day before yesterday from the Scotiabank office in Merida. It has our trust number referenced and some welcome info from the Trust Manager on how to pay our annual administration fees online. Bummer though, they have my middle name spelled wrong. I sure hope it’s not misspelled on the actual trust, but odds are...

  3. Thanks for the explanation Jonna, and for the hilarious warning. I can see how easy it is to switch those letters around.

    Susan, it's good to know our fideicomiso processing is within the range of normal. We have ours with Scotiabank as well so I'll look out for a nice welcome letter from the bank as a sign.

  4. The catastral is the land registry, the actual English word has escaped me, the place where they keep the deeds and plot maps. Like the hall of records but for property only.
    a cedula is "A cedula, in general, is an order, authorization, or royal decree, often from a king" so the cedula catastral is the deed to your property. Professional people have cedulas which is like a business license. It can also mean ID but I don't think they use it that way in Mexico.
    A croquis is a plot map. When I took fashion design we had croquis but they were templates that you drew your designs on. I looked up the word and it means a quick sketch.
    That binder is probably the deed to your house!Does it have stamps and seals on the various papers? You should keep it someplace safe. The actual fideicomiso is a contract that goes with your deed. You signed it with the bank representative.
    Don't expect the bank to be pro-active, I am still waiting for Bancomer to figure out what happened to our fideicomiso.