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HOME Information Investments in the Dominican R...

Investments in the Dominican Republic

Investing in Puerto Plata, Sosua, Cabarete

Investment Choices

The process of buying real estate

Registration of ownership

Accompanying Costs

Mortgage and construction

What to do after buying a property

Registration of the legal person in the Dominican Republic

Rental housing in Dominican Republic

Go to «FAQ (30)»
 

Registration of ownership

Since all real estate deals in the country are carried out  on the basis of the Registration System of Title (ownership rights of the property), the lawyer checks the legality of title and transfers it from the seller to the buyer at the Office of Real Estate Registration (Title Registry Office), the Land Court (Land Tribunal) and the State Tax Management (General Internal Revenue Directorate, DGII). After that he prepares a final purchase and sale agreement (contract), he certifies it at the notary and draws up the title on the  new owner.

Registration office in every region of the country is  own.

Since the signing of the contract the buyer is considered to  be the owner of real estate: now he can move in, after that the full payment of  the cost of the house and the payment of tax on real estate notary draws up the certificate of ownership (title) in the registration .It can take anywhere from  two weeks to three months, but in a number of agencies, the process can be speeded up for a fee. If the title is not made, the buyer is deceived he is not the owner, and most likely enters into a timeshare, so it is necessary to  advance to cope, whether registered title.

When purchasing a finished villa, land is included in the price, and the buyer shall be issued a certificate of land ownership as well as the villa. When purchasing an apartment in the property formalized only  apartments, but the land is made to the condominium (all owners of  apartments).The described procedure acts as a purchase of real estate as the individual or a juridical person.



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