García & Bodán guides launch of Honduras social housing program

Law firm García & Bodán is participating in the creation of a program to provide housing financing for low-income workers in Honduras

The law firm is advising the Private Contribution Regime (RAP), the largest private financial institution of social interest in Honduras that manages resources and provides support, benefits and financial services to its members, on the creation of a portfolio management trust that will manage a pilot financing program aimed at RAP affiliates with an income range of up to four minimum monthly wages, providing financing to enable them to acquire a home through a leasing plan with the option to buy.

The RAP collects and manages worker-employer contributions from private companies and independent workers to provide its members with financial products and services that contribute to improving their quality of life and socio-economic status.

García & Bodán contributed its legal expertise in the area of ​​management trusts, with the participation of partners Vanessa Oquelí (pictured), Godofredo Siercke and Ricardo Duarte.

The firm’s work included the review and adaptation of the trust agreement, drawing up the operational framework of the trust that will manage the housing financing portfolio, and the review and adaptation of the lease contract for the acquisition of property with an option to purchase. 

In addition to offices in Honduras, García & Bodán also has a presence in Costa Rica, El Salvador, Guatemala and Nicaragua.