Civil Code 1870 Guarantee Articles 578-591, Notary 232 Mexico City
- Before assuming their position, a tutor must provide a bond to ensure the proper handling of assets.This bond will consist of:
- A bond will only be considered if the tutor lacks sufficient assets to constitute a mortgage.
- If the tutor's assets do not fully cover the required amount, the guarantee may consist partly of a mortgage, partly of bail, or solely of bail, as determined...
Chapter 13
Table of Contents
Of the Guarantee That Tutors Must Provide
To Ensure Proper Handling of Assets
Art. 578
Before assuming their position, a tutor must provide a bond to ensure the proper handling of assets.This bond will consist of:
- A mortgage.
- A bail.
579
A bond will only be considered if the tutor lacks sufficient assets to constitute a mortgage.
580
If the tutor’s assets do not fully cover the required amount, the guarantee may consist partly of a mortgage, partly of bail, or solely of bail, as determined by the judge after consulting with the curator.
581
The mortgage, and in turn the bond, will be given for:
- the amount of income from real estate and revenues from imposed taxes.
- The value of movable property and belongings, including livestock, on rustic farms.
- The products of these farms,as assessed by experts or based on a five-year average,at the judge’s discretion.
- The annual profits from commercial or industrial negotiations, calculated from the books if properly maintained, or by expert judgment.
582
If the minor’s assets,as listed above,increase or decrease during the guardianship,the mortgage and bond may be adjusted proportionally.
583
If,within three months of accepting the appointment,the tutor cannot provide the guarantee for the amounts specified in article 581,the judge,after consulting with the curator,may reduce the amount,but not to less than half of the values designated in the aforementioned article.
584
During the three-month period mentioned above, an interim tutor, who receives the assets by solemn inventory, may only perform acts of administration expressly authorized by the judge, always with the involvement of the curator.
585
the following are exempt from the obligation to provide a guarantee:
- Testamentary tutors, when the testator has expressly relieved them of this obligation.
- Tutors of any kind,provided that the incapacitated person is not in effective possession of their assets and only has loans or litigious rights.
- Fathers, mothers, and grandparents, in cases where they are legally called to protect their descendants, except as provided in Article 503.
- Those who take in, feed, and educate a child for more than 10 years, unless they have received a pension for their care.
586
Those included in the first exception of the previous article will only be obliged to provide a guarantee if, after their appointment, a case ignored by the testator arises, as determined by the judge after consulting with the curator.
587
In the case of the second exception of Article 585, after credits or rights are realized, or goods are recovered, even partially, the tutor is obliged to provide the corresponding guarantee. The curator will monitor compliance with this article with utmost responsibility.
588
Whenever the tutor is also a co-heir of the incapacitated person and does not possess more assets than the inherited portion, no mortgage can be demanded from the tutor other than that of the same hereditary portion, unless this portion is less than half of that of the incapacitated person. In this case, the guarantee will be supplemented with a mortgage of the tutor’s goods or bail.
589
When the tutor presents their annual account, the curator must verify the solvency and suitability of the guarantors. This information can also be promoted whenever deemed convenient.
590
The curator is also obligated to monitor the status of farms mortgaged by the tutor, notifying the judge of any deterioration or impairments. If the price significantly diminishes, the tutor is required to provide additional security for the interests they administer.
591
If several minors or incapacitated individuals share goods from an undivided heritage, and there are multiple tutors, each tutor will only be required to provide a mortgage or bond for the portion corresponding to their represented individual.
Securing Assets: A Guide to Tutors’ Guarantees
Introduction
This article provides a comprehensive overview of the guarantees required of tutors to protect the assets of minors or incapacitated individuals. Understanding these requirements is crucial for ensuring the responsible management and safeguarding of assets.
What is a Tutor’s Guarantee?
What is a tutor’s obligation?
Before assuming their position, a tutor must provide a guarantee to ensure the proper handling of assets. This guarantee serves as a safeguard to protect the assets under their care.
What forms can a tutor’s guarantee take?
A tutor’s guarantee can take one of two forms:
Mortgage: This is a claim on real property to secure the obligation.
Bail: This involves a third party guaranteeing the tutor’s performance.
A tutor’s guarantee will only be considered if they lack sufficient assets to constitute a mortgage. If the tutor’s assets do not fully cover the required amount, the guarantee may consist partly of a mortgage, partly of bail, or solely of bail.
What assets are covered by the guarantee?
The mortgage and the bond are given for:
- The amount of income from real estate and imposed taxes.
- The value of movable property and belongings, including livestock on rustic farms.
- The products of these farms, as assessed by experts or based on a five-year average, at the judge’s discretion.
- The annual profits from commercial or industrial negotiations, calculated from the books if properly maintained, or by expert judgment.
How is the guarantee amount determined?
The amount of the guarantee is based on the value of the assets that the tutor will manage. This includes income from real estate, the value of movable property, and expected profits from business ventures. If the minor’s assets increase or decrease during the guardianship, the mortgage and bond may be adjusted proportionally.
What happens if a tutor cannot provide the guarantee?
If, within three months of accepting the appointment, the tutor cannot provide the guarantee for the specified amounts, the judge, after consulting with the curator, may reduce the amount. Though, the amount cannot be reduced to less than half of the values designated.During this three-month period,an interim tutor will receive the assets by solemn inventory and only perform acts of governance expressly authorized by the judge,always with the involvement of the curator.
Who is Exempt from Providing a Guarantee?
Are there exceptions to the guarantee requirement?
Yes, certain individuals are exempt from the obligation to provide a guarantee:
- Testamentary tutors, when the testator has expressly relieved them of this obligation.
- Tutors of any kind, provided that the incapacitated person does not have possession of their assets and only has credits or litigious rights.
- Fathers, mothers, and grandparents, in cases where they are legally called to protect their descendants, except as provided in Article 503.
- Those who take in,feed,and educate a child for more than 10 years,unless they have received a pension for their care.
Are there any conditions for those in the exceptions to provide a guarantee?
Those included in the first exception will only be obliged to provide a guarantee if, after their appointment, a case ignored by the testator arises, as determined by the judge after consulting with the curator. In the case of the second exception,after credits or rights are realized,or goods are recovered,even partially,the tutor is obliged to provide the corresponding guarantee.
Ongoing Responsibilities
Several ongoing responsibilities are associated with the guarantee:
- Adjustments: If the minor’s assets change in value, the guarantee must be adjusted proportionally.
- Curator’s Oversight: The curator must monitor the solvency and suitability of guarantors and the status of mortgaged farms.
- Additional Security: The tutor might potentially be required to provide additional security if the value of mortgaged property diminishes.
What role does the curator play?
The curator plays a crucial role in overseeing the tutor’s management of assets.
The curator must verify the solvency and suitability of the guarantors when the tutor presents their annual account. This information can also be promoted whenever deemed convenient.
The curator is obligated to monitor the status of farms mortgaged by the tutor, notifying the judge of any deterioration or impairments.
Special Circumstances
| Situation | Guarantee Requirements |
| ————————————————- | ——————————————————————————————————————————————————————————————————————————– |
| tutor is a co-heir | No mortgage can be demanded other than that of the same hereditary portion, unless this portion is less than half of the incapacitated person’s share. In this case, the guarantee will be supplemented with a mortgage or bail. |
| Multiple minors/incapacitated individuals | Each tutor only provides a mortgage or bond for the portion corresponding to their represented individual.|
| Increase/decrease in a minor’s asset during the guardianship | the mortgage and bond may be adjusted proportionally |
Conclusion
Ensuring the proper handling of assets for minors and incapacitated individuals is a critical responsibility. These guidelines provide a framework for understanding and fulfilling those critical responsibilities.