Guarantee Trust

The efficient alternative to the traditional mortgage to back credit obligations.

What does this Trust consist of?

Trust whereby the TRUSTEE (owner of the property) transfers in trust property or rights to the TRUSTEE, to serve as security for an obligation contracted with another person called the TRUSTEE (creditor).

This product is widely used in Costa Rica, as it has been displacing the traditional mortgage instruments to guarantee credit operations with banks in the country or with third parties for the financing of personal, corporate, SME, second-tier banking and other loans.

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    Benefits

    Exempt from real estate transfer tax and from any payment of registration fees. Said advantage applies when the following conditions are met: a) That real estate (properties) are transferred to a guarantee trust. b) That the TRUSTEE is an entity registered before the General Superintendence of Financial Entities (SUGEF) and, c) That the TRUSTEE (Creditor) is constituted in a company or enterprise dedicated to render financial services, duly registered before the SUGEF.

    Flexible instrument to incorporate new credit operations, changes in conditions or others with a simple amendment to the trust agreement.

    The assets contributed in trust maintain the fiscal value of the property as long as there is no prior sale or purchase. This has the advantage that the amounts of municipal and other taxes on the properties remain unchanged.
    It is held in an autonomous patrimony distinct from the patrimony of the Trustor and the Trustee, which means that the assets contributed in trust have the sole purpose defined in the trust contract and therefore, the real estate is protected against third parties.
    Expedited enforcement proceedings for the TRUSTEE (Creditor) for non-payment by the debtor of the secured obligation.
    Streamlined trust liquidation process.
    Administration of guarantees for second-tier banking (promissory notes, bills of exchange and others).
    Periodic review of the registration statements of the properties transferred in trust property before the Property Registry, to identify any movement on the properties; i.e., transfers, annotations, encumbrances.
    Control of the timely payment of property taxes before the Municipalities, in order to avoid a privileged legal mortgage on real estate.
    Contact us

    Contact us

    One of our fiduciary advisors will be in touch to assist you with your project.

      I consent to the processing of personal data and agree to the user agreement and privacy policy.