This article is intended to synthesize the importance for the owners of Real Estate to carry out the Transfer of Assets before the respective local governments at the time of acquiring one.

When we carry out a real estate transaction, we normally only focus on ensuring that the transfer is duly registered in the Real Estate Registry of the National Registry and we forget to make the change of owner before the local government of the county where the property is located.

Unfortunately, not all local governments have an interconnected system with the National Registry that allows them to record in real time any type of movement that is made with a property. The above not only referred to transfer, but we can also think about Segregations, Meetings, Measure Rectifications, Boundaries, property divisions in rights, among others.

Local governments, not having a resource such as the one indicated, do not have the possibility of having their property database duly updated, which is detrimental to the administration and to the managed.

Whenever any type of movement is made that changes any characteristic of a property or changes ownership, we recommend going to the corresponding local government for the purpose of declaring the changes and thus keeping the property duly updated. This will serve to guarantee proper billing, receive notifications related to the property, carry out procedures as an owner, among others.

Normally it is a simple procedure despite the fact that each Municipality has its own requirements. However, it is quite common nowadays to find the requirements and forms that must be submitted on the web pages of the local governments, and some also have the possibility of doing it online.

At ERP Lawyers & Associates we have extensive experience in real estate matters, so if you have any questions, you can send them to us by email at info@erplawyers.com, where we will gladly assist you.