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Labor & Social Security
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Increase in Minimum Wager for 2011 January 2012

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Resolution by which the twnty first rule of the rules for the granting of loans to worker beneficiaries of the Institute of the National fund for Worker Housing (Infonavit) is reformed.

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The Resolution issued by the H. Council of Administration of INFONAVIT was published by the Official Gazette of Mexico by which the twenty first rule of the Rules for the Granting of Loans to Worker Beneficiaries of the Institute of the National Fund for Worker Housing (INFONAVIT) is modified.

Under this reform, if the worker obtains the minimum score required to receive a loan from the Institute, under the terms of the Tenth Rule, and wishes to increase the amount of credit, his or her spouse may obtain a loan up to seventy five percent of the maximum amount that could correspond to the latter, provided he or she is a beneficiary of the Institute, has worked continuously at least the last two years prior to the date in which the spousal credit is requested, and both credits are applied to the same housing.

Besides the case provided in the previous paragraph, the Institute may grant credit to a worker beneficiary under the terms established in the present Rules, when his or her spouse, even if not a beneficiary, acquires or has at the same time the remaining joint ownership of the same housing to which such credit is destined, and both spouses are joined in marriage under the separation of property Regime.

In the assumptions referred to in the previous paragraphs, the spouse requesting the loan should present a certified copy of the marriage certificate, besides the documents signaled in the Thirteenth Rule and, in due course, the property that is destined as mortgage guarantee of the credit should be registered under the joint ownership regime.

With this reform it will be allowed for the INFONAVIT to grant credit to a beneficiary worker, when his or her spouse, even if not a beneficiary just acquires or has the remaining joint ownership of the housing and the beneficiary worker just acquires or has the remaining joint ownership of the housing to which such credit is destined, and both are joined in marriage under the separation of property Regime.

Below the new text of that rule is inserted:

SPOUSAL CREDIT

TWENTY FIRST. If the worker obtains the minimum required score to receive a credit from the Institute, under the terms of the Tenth Rule, and wishes to increase the amount of credit, his or her spouse may obtain a loan up to seventy five percent of the maximum amount that could correspond to the latter, provided he or she is a beneficiary of the Institute, has worked continuously at least the last two years prior to the date in which the spousal credit is requested, and both credits are applied to the same housing.

Besides the case provided in the previous paragraph, the Institute may grant credit to a worker beneficiary under the terms established in the present Rules, when his or her spouse, even if not a beneficiary, acquires or has at the same time the joint ownership of the housing, and the worker beneficiary just acquires or has the remaining joint ownership of the same housing to which such credit is destined, and both spouses are joined in marriage under the separation of property Regime.?

In the assumptions referred to in the previous paragraphs, the spouse requesting the loan should present a certified copy of the marriage certificate, besides the documents signaled in the Thirteenth Rule and, in due course, the property that is destined as mortgage guarantee of the credit should be registered under the joint ownership regime.

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