What is the procedure to obtain a property title?

PJT

Silver
Jan 8, 2002
3,564
300
83
Fabio,

My wife and I are interested in purchasing a property for investment. We are cautious about this and desire to know what the procedure is to obtain a title and deslinde for the property.

We plan, before venturing into a purchase and sale agreement to investigate the property and to see the existing title and deslinde in the possession of the owners or we may expect they may have a mortgage on the property, which in that case the lending bank may be holding the documents in the capital city. Would it be wise obtain the Parcel and Cadastral District numbers for the property and check it out ourselves with the Registrar of Titles?

If we proceed with a purchase and sale agreement, should we include a clause that the sellers must produce a certification of the title and deslinde? Now we are going fast forward to after the sale and wish to know how quick a new title and deslinde be issued for the property in our name and how is this done?

Thank you in advance and Regards, PJT
 

ccarabella

Newbie
Feb 5, 2002
733
12
0
Mr Guzman, are you saying that

if I inherit property from my Dominican parent I will have to pay 50% of the value of the home in taxes because I am American and do not reside in the Dominican Republic?
What if one of the beneficiares resides in the Dominican Republic & the others abroad?
Does it help if one becomes a Dominican citizen?

Thanks
ccarbella
 

harold

New member
Mar 23, 2002
70
0
0
I didn't know if you are not a Domincan citizen you have to pay 50 percent taxes. Yet I agree with that law. You need to keep money circulating in the country of its origin.
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
2,359
252
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www.drlawyer.com
The estate tax for non-residents is not 50%. It is 50% more than a resident would pay. For example, the estate tax rate for children of the decedent is 17%. If one of the children resides abroad, he or she would have pay 50% more on his portion, that is, !7% + 8.7% = 25.7%.

The law established the surcharge for non-residents. A Dominican citizen who resides abroad would also be penalized.