What Color Is Your Title? Dominican Republic Real Estate
Whether you are searching for real estate in the Dominican Republic, Puerto Rico, Turks and Caicos or any of the other beautiful islands around the Caribbean, having all the documents concerning your home is extremely important.
We aim to provide value for you here on our blog, so let’s highlight something you might not know about if you are considering purchasing property in the Dominican Republic! We want you to know about this important information before you buy in the Dominican Republic.
When purchasing Caribbean real estate the most important document is the title. The title is the final document that you should receive and it states that you own the property. I always suggest you have the actual title, a copy of the title and a digital copy as well, better to be safe than sorry when it comes to this extremely important document.
Here is a really affordable Caribbean home waiting for you.
In the past I have suggested to property owners to have digital scans of ALL documents related to the property. Should the occasion arise where a government office can’t find a specific document because they “lost it” ( which is common in Latin America ) due to poor record keeping and total mismanagement, then you will be “safe” with your digital copy.
Do you need a realtor in the DR? Click here for one of the best!
When you travel to the Dominican Republic to purchase real estate can be quiet an adventure, so do some research ahead of time by reading our new blog.
Below we will outline the different real estate titles that are common to see in the Dominican Republic and what each one means and what each one is used for.
Yellow Title
Name in English: Creditors Registration Certification
Name in Spanish: Certificado de Registro de Acreedor
This document is issued by the Registry of Titles in which the real estate property, taxes and encumbrances (a mortgage or other claim on property or assets) are accredited. It can only be required by the owner of the property, as well as by the owner or beneficiary of the registered right. Creditors/Banks/Lenders will provide the Yellow Title to you.
Blue Title
Name in English: Certificate of Titles
Name in Spanish: Certificado de Titulo
This is the official document issued and guaranteed by the Dominican Federal Government, which certifies the existence of a real estate property and ownership over it. The Blue Title is used for houses and lands.
This brokerage now accepts cryptocurrency as payment in the Dominican Republic!
Do you need a realtor in the DR? Click here for one of the best!
Pink Title
Name in English: Annotated Record
Name in Spanish: Constancia Anotada
This is the official document issued by the Registry of Titles that supports the rights of one or more persons over a portion of a plot that does not have its own cadastral designation or an individual plan approved and registered in the Directorate of Measurements. The Pink Title is used for apartments and condos.
Check out this great condo with a golf view for under 200K USD!
*Important Info*
For property built before 2005 condos/houses all have pink titles.
Property build after 2005 Pink Titles on condo’s/homes means there is a lien on the property.
No lien means property has a Blue Title.
So, if you are purchasing a property that was built after 2005 and there is no lien against the property, then you should be receiving a Blue Title. The Blue Title also applies to demarcated or individualized properties. Example, there is a plot of 15 acres divided up between 3 owners. Each owner would have their own Blue Title for their own plot of 5 acres.
Here is a great pre-build for under 100K USD!
Closing
It is extremely important that you have the correct title and ensure that nothing is wrong with the property at all prior to purchasing. Also, please scroll back through our blog and see the properties we have advertised in the past, more are coming soon! We have many Caribbean homes for sale and would love to assist you in getting a set of keys in your hands. Please reach out to us if you have any questions at all and don’t know where to start!
