Registration of the property

Now, all of the above is understood assuming that the applicant actually entered into a promise of sale with her father with the true intention of buying the property (having in fact paid the corresponding price), since it would be reproachable if this transaction had been made with the sole intention of circumventing the rights of the other siblings on a possible future inheritance on the property object of the consultation to favor one of them, which would obviously be an unlawful act and in bad faith in relation to the other siblings.

Now, all of the above is understood assuming that the applicant actually entered into a promise of sale with her father with the true intention of buying the property (having in fact paid the corresponding price), since it would be reproachable if this business had been done with the sole intention of circumventing the rights of the other siblings on a possible and future inheritance on the property object of the consultation to favor one of them, which would obviously be an illegal act and in bad faith in relation to the others.

What happens if a land is not registered?

Not having the registration of the property means that you are not accredited as the owner, you have no legal guarantee and therefore you have no rights over the property.

What happens if a property is not registered?

If the property is not registered in your name, there is no tradition of the property, which indicates that there is no change of ownership. Therefore, legally you will not appear as the owner. … The property registry consists of the annotation of the real estate in a book called repertory.

Read more  What is V62?

What happens if I do not register a property in the Land Registry?

The most important disadvantage of buying a house without registration is that in doing so we will not have legal coverage. By not being registered, this type of property may be foreclosed, encumbered by a mortgage, or have any other type of encumbrances such as usufructs or utilities.

How to prove that I own a property

The acquisition of a real estate property means for many, one of the most exciting moments due to the effort involved and the security that represents having a patrimony for life. However, given the rapid growth of the sector, it is important to be informed in detail about the property and the person or company with whom we will make the deal.

Although buying a piece of land may be an idea that excites you, it is very important that you take it calmly and make sure that everything is in order with the property you are interested in before starting the purchase and sale procedures.

For some, the issue of legal security in the real estate sector may generate doubts due to the terms and procedures involved. At Grupo Farko we know how important this investment is for you, so we will explain in detail what you should pay attention to in order not to risk your money and make the right decision.

To understand the importance of the points we will address, you must first know what we mean when we talk about legal certainty, because although it is a concept that is often talked about in the real estate sector, it is normal that it generates doubts and confusion now that you are getting informed about real estate investment.

How to deed a piece of land if I only have a letter of possession?

The only way to deed the possessor is through the usucapion trial. The usucapion trial is a trial in which the possession must be proved, it demands as an indispensable requirement that the possession be peaceful, continuous and uninterrupted for the term of 20 years (how is it proved?).

How long do I have to register a deed?

According to Article 231 of Law 223 of 1995, the registration must be made within two (2) months, when the business is celebrated within the country, and three (3) months when the business is granted outside the country.

Read more  What is GL test?

What is the value to register a property?

In a simple sale and purchase, the cost will be 0.2% of the price of the property, and a payment ceiling of $262,200 pesos plus some extra expenses for copies of the registry is indicated.

How to deed a land in possession

To register a property by means of inscription in the Land Registry it is necessary that previously we have a deed signed before a notary. This deed must contain the description of the property and the data of the owner, otherwise we will not be able to register the property.

If we have acquired a house without deeds because of an inheritance, what really (and legally) has happened is that we have inherited a land or plot where there is a building that does not appear in the deed of inheritance.

The realization of these certificates is more complex than it seems, since the land where the house is built must have the condition of “urbanizable” and must be in accordance with the municipal town planning regulations in force.

It is not possible to register a plot of land for which a title deed has not been executed. As in the case of a house, in order to register a plot of land in the land registry we will have to prove the description of the land or plot (with indication of its physical limits) and the data of the owner.

How many years must I stay in a house for it to be mine?

How many years do I have to live in a house to own it in Mexico? In order for you to own a house in Mexico and claim seniority rights just for the years of living in it, 5 years must pass with good faith prescription, and 10 years with bad faith prescription.

How to inherit a house without deeds?

In case of inheriting a house that does not have deeds, a legal procedure must be carried out so that the heirs can have a deed in their name and then they can legally dispose of it, that is, until the heir has deeds in his name, he can sell it or give it to his heirs in exchange for …

Read more  How do you identify pottery marks?

How much is the fine for not registering a deed in Colombia?

The term to register the file with the approving order is ninety working days from the date of its issuance. If within this time you have not paid the registration and annotation tax, you will have a fine equivalent to 50 percent on the basis of the liquidation.

They can take away a piece of land without deeds

The Chilean Civil Code in its articles 686 and 687, establishes that the tradition of the real right of ownership of real estate is carried out “by the inscription of the title in the Registry of the Real Estate Registry”. Therefore, one of the functions of the Real Estate Registry is to keep the history of real estate and land, that is why in its files are kept records of the transfers that are made on a real estate property.

The property registry consists of the annotation of the real estate in a book called repertory. The Real Estate Registries have a registry of property registrations originated by the acquisition of a title or of shares and rights over the real estate. In other words, it specifies the transfer of ownership of a property.

By Rachel Robison

Rachel Robison is a blogger who collects information on court filings and notices.