On acquiring a property, it is placed in trust with the bank as Trustee (Fiduciario), who, for all technical purposes, is the legal titleholder.
The Trustee and purchasers’ responsibilities are clearly specified within the Bank Trust, which forms part of the title.
The Trustee is responsible for holding the property in trust for the purchaser who is then the beneficiary (Fideicomisario) of the Trust. In conjunction with the Trustee, the purchaser has the ability to rent, sell or transfer the rights to the property.
The Trustee`s (Fiduciario) function is purely an administrative one. The bank Trustee will only act upon written instructions from the Owner/ beneficiary (Fideicomisario) of the property.