LA INSCRIPCIÓN DE LA CLÁUSULA DE SUSTITUCIÓN FIDEICOMISARIA EN EL REGISTRO DE LA PROPIEDAD.

Abstract

The beneficiary substitution clause implies a double call for two successive persons to inherit, such that the first heir must keep the assets in question in order to pass them on to the second. This means a limitation of the power of the first (called "the trustee") to dispose of the said assets, which he or she must keep in order to deliver to the second ("the beneficiary"). For that reason, when the said clause affects immovable property, it is necessary for the clause to be placed on record and entered in the property registration system. This paper looks at the requirements for such entries and the special application of the rule of specificity to the parties stated in such entries, stemming from the beneficiary substitution arrangement's own need for exact identification under civil law.