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31/08/10: ¿Do I own a property in the Dominican Republic just by executing a real estate sales agreement?
Real estate property acquisition is regulated both by the Dominican Civil Code and Law 108-05 for the Registration of Real Estate Property. Even though a person has an executed binding contract which complies with the provisions for contracts under the Civil Code and provides for the direct transfer of a certain real estate property or property related rights to his or her name, in order for that transfer to have effect vis-à-vis third parties the operation must comply with the payment of certain taxes in order for it to be registered before the title registrar and a title certificate be issued to the name of the buyer. If the seller previously sold the property to a good faith third party acquirer that has already registered the transfer, then the second buyer does not own the property and, instead, has a legal right to sue the seller for breach of contract.
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The responses provided in this website are only intended to provide general legal information regarding a proposed topic, they do not constitute a legal opinion, nor are a substitute for legal or professional advice, which is recommended before engaging in any transaction or business under Dominican law.
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