In meeting with the Erskine Group, we will review all aspects of purchasing property and securing your ownership rights through the Fideiocomiso process.

A summary of the issues to be reviewed:

• The rights, duties and obligations of the Seller(s) and the Buyer(s) and the nature and scope of the Banks role in the administration of the Fideiocomiso.
• An estimate of the Bank fees to establish the Fideiocomiso (trust) in your name.
• The steps necessary to complete the transaction and the payment of taxes and fees.

When you have reached an agreement with the Seller(s) to purchase a property, our representative will initiate the processing of the conveyance of the property on your behalf.

The necessary steps to complete the process will include:

• Contacting the bank to request either a transfer of an existing Fideiocomiso or issuance of a new one.
• Conducting a title search and, if necessary, securing documentary evidence that the Seller(s) is legally empowered to convey the property.
• Obtaining a certificate of no liens or encumbrances, a certificate of no property taxes due, and an appraisal for transfer tax purposes.
• Preparation of all information and documentation for presentation to the notary public for his approval.
• Making an appointment with the notary public and arrange for all of the parties and/or their representatives to be present for the signing of the notary’s original and to receive your copies.
• Recordation of your property with The Planning Department, The Registry and The Tax Department  where you will receive a tax number for the payment of annual taxes.

Illinois Residential Mortgage Licensee # 5814. Licensed by the Dept. Of Corporations under the CA Residential
Mtg. Lending Act. This is not a commitment to lend. Copyright © 2008 Professional Mortgage Partners, Inc.
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