Find out everything you need to know about property registration in this post ! Detailed explanation!
What is the property registry
When we acquire any property, the first thing we must do is register it. So, what is property registration ? It's the process by which we register the deeds of the movable and immovable property we have acquired.
When referring to the importance of knowing what the property registry is, we are talking about the security that this registration grants to each of the operations that we want to carry out with them, since by exercising what the property registry is we can attest that what is written there is true and belongs to us. Therefore, it is recommended that we carry out this process in order to be sure that our property before government, banking and natural entities is ours and there is no type of doubt regarding this.
One of the benefits that allows us to know what the property registry is is the ease with which we can do business on the property, whether it is buying, selling, renting, among others. Thanks to the fact that it is settled that we are owners and proprietors of those goods.
Another clear example that benefits us when understanding what the property registry is is in the context of mortgages, which serve as collateral for loans we request from various financial institutions. When we apply for these loans through banks, they will require the property registry and the CIRBE (Central Credit Register) report. If you're unsure what this report refers to, we invite you to visit the following link: What is CIRBE?
Information provided by the registry
One of the things that we must be clear about is what the property registry is, it is that they only provide information to those who request it formally. That means that only individuals who present a simple note or a certification note can obtain the information that rests in the public registry. The difference between the simple note and the certification note is that the first is only informative, while the certification note is endorsed by the registrar's signatures.
It should be noted that it is important that when these reports are delivered to us, we carefully study the information to which our property is referring. This means that we must check that the data on the location of the goods is correct, as well as the geographical references also known as georeference, delimitations and characteristics of each of the movable and immovable property.
We must remember that the information knowing that it is the property registry, is to know in a detailed, precise and clear way the description of each one of the properties that we acquire in order to be a photograph of our investment.
Purposes of property registration
We must understand that the property registry is something voluntary and is not written in any ordinance. However, it is advisable to do so since it allows us to register each of the real rights that fall on each of the properties. In the same way, each one of the duties that we acquire with the property falls on us, such as mortgages, maintenance expenses, administrative resolutions, judicial resolutions, state, taxes, among others.
That is why we recommend doing it to have greater legal certainty with each of our assets if we want to mobilize or execute them in some way. It is necessary to clarify that the property registry is something that we do only once and that it does not lose validity over time, unlike what we know as the Cadastre, which must be renewed and registered in a mandatory manner, which will have a value variable depends on the geographical and boundary characteristics of the property.