Transactions of Real Estate in Chile
When you purchase both new or resale real estate in Chile it is extremely important to know what is the legal status of the realty you are buying. If the real estate has any mortgages, restrictions, encumbrances, debts, rights of third parties, and the most important ting is whether there is an object of municipal debt, such as territorial or garbage disposal. Often, in Chile, people simply forget to pay the municipal taxes and a large amount of debt is accumulated and that may well be the cause of the encumbrance of the properties. After all, according to the Chilean law the debtor is not the owner of the acts, its the property.
Also, experience shows that one of the most encountered problems is not continuing the project, and not taking the mortgage burden. The mortgage can be paid for several years before or even earlier than the previous owner. But it is needed to NOT spend the object of legal treatment, which can result in serious problems with re-registration. Accordingly it is not recommended to buy such a property without further clarifications.
For new properties, whose construction in most cases is financed by banks or third parties. Sold objects can simultaneously be the key to investors and it is an extremely important thing or even get the insurance on a deal (it is obliged to give the company the developer) or the investor’s signature (and seller) in the document of the final purchase and sale.
Also, before you buy a property, you must know its real price, technical and legal conditions of the transaction.
Transaction Advisory Services
Legal advice service in Chile (Asesorias Legales) has a comprehensive legal support and recording of transactions related with the objects of operations on the property in Chile (buy, sale, donation, lease, mortgage) and also carries out the registration of real estate rights. Our company ensures compliance with the requirements of applicable documents submitted in the Republic of Chile’s legislation and ensures the reliability of your transaction.
A full range of our registration services in Chile include:
- Price negotiations.
- Gathering all the necessary information about the property, including to check for encumbrances (mortgage, arrest, etc.), hereditary or judicial disputes.
- Legal examination of documents and collection of documents required for registration.
- Making the respective contract: purchase and sale, rent and so on.
- Advice on payment of real estate with application protection mechanisms.
- Preparation of documents to Civil Registration.
- Tracking the passage of documents in various stages of registration and promptly informing the Customer.
- Consultations in the field of the Chilean property.
- Legal advice service in transactions with land.