Tuesday, October 22, 2013

The purpose of signing the final contract eftps of sale is the transfer of ownership from the selle

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Real estate eftps in the Dominican Republic are governed by Law 108-05 of registration of real estate, in force since April 4, 2007., As well as the regulations of its application. The ownership of the property by acquiring a registration in the register of titles contract of sale, notarized and meets all legal requirements. After the registration of the contract the buyer receives title certificate confirming his ownership of the property. 1) The preparatory phase
Already in the preparatory stage advised to consult a lawyer. A qualified real estate will hold a preliminary legal advice and check the property. The fact that the system eftps of the Dominican Republic does not provide sufficient guarantees to the buyer in the purchase of real estate. It is important to talk to a lawyer before signing any commitments and deposit. The lawyer will gather the information and make an agreement eftps so that the maximum protection to the right buyer. eftps Some of the necessary due diligence of the property at the preliminary stage include: eftps The property has a certificate of registration of the property The property is not as collateral, mortgages, eftps there are no other obstacles to the sale of the property has no current legal proceedings Object has no tax arrears and Location description of the property relevant inventory description of the land on the Certificate of Registration of ownership (Deslinde and title). 2) The signing of the preliminary contract of sale
After selecting the property and the scan of the object on the "purity" of both parties prepared a preliminary sales agreement, which sets out the conditions of purchase of real estate, property values, the scheme of payment of the full amount of the transaction, the proposed initial deposit, the timing of the transaction (signing of the definitive purchase agreement sale), the additional terms of the transaction, the terms for renting the property (if the construction of the project has not been completed), the timing of the actual relocation buyer in the acquired property. eftps
At the time of signing the preliminary contract of sale, the buyer makes a deposit to reserve (ie, removed from sale) acquired property. If a deal is a lawyer, he may propose eftps that amount in his bank account as collateral, and confirm that you want to finish the deal. The lawyer, in turn, is obliged to follow the observance of all the obligations of both parties on the preliminary contract and pay this amount to the seller. The seller, in turn, the seller undertakes to sell the property to the buyer on the conditions stipulated in the preliminary contract.
The preliminary contract must contain all the terms and details of the transaction: the description of the property, the sale price, form of payment, warranties, causes cancellation of the contract, etc., as a function of this Agreement is to regulate the sale and purchase transaction from beginning to the payment of the whole price of the transaction and the signing of the final contract of sale, which will serve as the basis for the transfer of the property to a buyer.
Correctly made a preliminary sales contract must contain the following information with all the details: Full names and personal information of all parties. If the seller is married, the spouse eftps is also required eftps signature / and. Cadastral description of the property. The transaction price. Scheme eftps and the form of payment. The position on the contract cancellation in the event of a default on payments, unless the parties have agreed to such. Date of acceptance of the property. A list of all legal inquiries and inspections necessary to confirm the status of the property, with the caveat of making payments, depending on the positive results of said audit and collection of documentation. The seller's obligation to sign the final contract of sale upon receipt of all of the cost of the transaction.
The purpose of signing the final contract eftps of sale is the transfer of ownership from the seller to the buyer. As a preliminary contract or option, the final purchase contract is signed in the presence of a notary who certifies the signature of the parties.
The lawyer is the final contract to complete the sales transaction, and performs

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