Ninety-One Secured Property Transactions in Guatemala

©image: AComment

This registry allows companies to inscribe all types of assets and is seen by companes as a way to access more credit in the financial system.

In an article in sigloxxi.com, Juan Orlando Garcia Rivera, a registry official, indicated that the inscriptions have been made for large amounts of up to $20 million and that "an endless amount of property has been given as collateral such as: agricultural machinery, business inventories, credit titles, brands and trade names."

Source: sigloxxi.com

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Guatemala: Record $75 Million Property Guarantee

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The registration of sugar inventory in the Property Guarantee Registry (RGM) is the biggest since its creation.

As a guarantee for a $75 million loan, Sucden Americas Corporation has registered a 20,000 ton sugar inventory.

Prensalibre.com reports that, "the product will either be stored in Expogranel's installations or those belonging to the Association of Guatemalan Sugar Producers (Asazgua)".

Guarantee Registry already operating in Guatemala

January 2009

The Property Guarantee Registry (RGM) received its first registration for $10 million on Monday.

According to prensalibre.com "Erasmo Velasquez, vice minister of Economy, confirmed that the Nuevos Almacenes S.A. company, which runs the Cemaco stores, registered a guarantee for its warehouse stock, in order to request a loan from a bank abroad."

Real and Personal Guarantee Registry in Guatemala

December 2008

The Ministry of the Economy will be in charge of the Registry (RGM) which will start to function on January 2.

According to prensalibre.com, "micro, medium and small business will be able to access credit and property at the registry as a guarantee for banks and other financial entities, such as agricultural equipment, harvest, merchandise inventory, certificates, computers, and other property.

Guatemala: Law of Real Estate Guarantees comes into effect

September 2008

The Property Registry will be in charge of temporarily recording the real estate guaranties.

This resolution, contained in decree 46-2008 and which has been in effect since January of this years, will allow an individual to offer his work tools, harvest, sales and productions, etc as a guarantee to obtain credit. The transaction will be recorded in a registry in order to legalize it.