Title change

Can we ask where the condo is and what complex?

• Do her neighbors (in the same building) have titles in their name?
• Is she aware of the "new" law of "deslinde" (legal segregation process) and what a REAL title is? Locals as well as too many "agents" often tend to promote a funny and often self serving but nevertheless not very legal "definition" or "title".
• Does she want to sell? If she is pulling out anyway, she might be better off and just sell with her current "papers" (a sale contract?) and not look back, instead of trying to fumble in a hornet's nest(?).

In any event, you or she may want to do a "search" on this Forum about "deslinde". Condo and apartment developments are especially "hard hit" by this new law, since many are no found to lack most if not all legally necessary papers, plans and previous permits necessary for the segregation and issuance of new, defined, individual legal titles. Some are even found to have been build lacking the necessary basic engineering studies, built higher than allowed for a particular zone, too close to "this or that"... and so forth.
Often, this can force the developer -if "he" is still interested enough to do that- or eventually the home owners (HOA) to commission a quite costly new architectural and engineering study and submission of all permits... a lengthy and costly process too many HOA's are not setup or "tight enough" to see thru.


... J-D.

mikey007 said:

yes JD , would it slow down the selling process

Click to expand...

"Yes JD", like in "we have no deslinde, no real title (just a sale contract, maybe even one that has been sold around)"?

Well, sales are s l o w around here anyway...
It certainly depends on your price too and maybe the lack of moral/professional values of your agent(s).

Educated buyers will not want to touch it, even with toothpicks, unless it's dirt cheap and they can pick it up with "play money".
I would never let any of my clients touch something like what I fear your situation may be.
But, posts popping up every now and then here, with new owners slowly awakening from the Coconut palm three induced daze under which influence they got into some "hot sell, sell, sell" RE dealie, would suggest that still a good percentage of new prospect buyers are not unlikely to consider to get into deals which can turn into a very lengthy title process.

So, you know... ask around some RE "agents"...

... J-D.

Mikey, the INDIVIDUAL UNITS may not be required to have a individual deslinde to be re-sold (I am NOT a lawyer). However, the property, the complex, the development may need to from surrounding properties. Some common areas may be segregated too and from those, in some cases, some commercial properties which operate within the development.

Not to scare you, but I know of condo "developments" which have been converted from hotel to time share and from that into "condos" "on the fly" at the will of a "developer" or whom ever owned it last as a whole just by issuing individual contracts between "a company" set up for that sole purpose and the buyers. Then, it turns out that the owner(s) -often a physical person- still OWNS the land... ALL the land... also the land "under" the buildings!

I think most will suggest you speak to a Law Firm with the knowledge and reputation like Guzman Ariza who consult to this board (link: banner on top of this page). They would most certainly be most well equipped to suggest the correct action(s) or way(s) to proceed DEPENDING on your immediate goals and help you reach these.

... J-D.