We had a surveyor measure our house lot last fall to update title and deslinde. The documents are over 25 years old. The surveyor came back to us and said there was a problem.
The property is in a gated residential. A neighbor has been trying to sell his empty lot between his house and our villa lot. He has a buyer. He is unable to sell because the documents on file have (his?) empty lot in our name and our improved property is on file in the neighbor’s name. This was explained to us by the neighbor’s lawyer. The lawyer is proceeding to submit a request to the Registry of Deeds for a certification.
If the Registry of Deeds says this is true the lawyer suggested a transfer of properties, switching one for the other, the neighbor buys ours and we buy his. Our property is estimated at RD $12,000,000. The new laws say a certified check has to be used for sales transactions. The dilemma is we do not have the money to submit for a certified check to make the sale or pay the sales taxes. The sales values will be based upon mandatory appraisals of the property values. Is there a loophole to make the transfer cashless and taxless to rectify the error? Suspect the land court will have to be involved. We know we will need a lawyer but want to be armed with proper information to protect our investment.
Any suggestions?
Regards,
PJT
The property is in a gated residential. A neighbor has been trying to sell his empty lot between his house and our villa lot. He has a buyer. He is unable to sell because the documents on file have (his?) empty lot in our name and our improved property is on file in the neighbor’s name. This was explained to us by the neighbor’s lawyer. The lawyer is proceeding to submit a request to the Registry of Deeds for a certification.
If the Registry of Deeds says this is true the lawyer suggested a transfer of properties, switching one for the other, the neighbor buys ours and we buy his. Our property is estimated at RD $12,000,000. The new laws say a certified check has to be used for sales transactions. The dilemma is we do not have the money to submit for a certified check to make the sale or pay the sales taxes. The sales values will be based upon mandatory appraisals of the property values. Is there a loophole to make the transfer cashless and taxless to rectify the error? Suspect the land court will have to be involved. We know we will need a lawyer but want to be armed with proper information to protect our investment.
Any suggestions?
Regards,
PJT