What is Fiducia?
Fiduciais the legal operation, having its source in law or contract, whereby one or more constituents transfer real rights, debt rights, guarantees or other property rights, or a set of such rights, present or future, to one or more trustees who exercise them for a definite purpose for the benefit of one or more beneficiaries. These rights form an autonomous patrimonial mass distinct from the other rights and obligations in the assets of the trustees.
The fiduciary contract will have three parts: the constituent; the fiduciary (credit institutions, investment firms, lawyers, notaries, etc.); respectively the beneficiary, who may be either a third person or the constituent.
It should also be noted in connection with the fiduciary contract that the fiduciary will be able to exercise the transferred rights only in accordance with the purpose set by the constituent and for a fixed term which cannot exceed 33 years and when the contract ends the fiduciary property shall be transferred to the beneficiary or, failing that, to the constituent.