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US-$ = RD$ 36.00 Euro = RD$ 47.75 21-04-2009 - Banco Central |
How to purchase Real Estate
in the Dominican Republic
At first we want to present some units, which are not so quite common in all parts of the world:
| una (1) Tarea | = 629 m² |
| 16 Tarea | = ca. 1 ha |
| un (1) Hectarea | = 1 ha = 10.000 m² |
| un (1) Area | = 100 m² |
Here in the Dominican Republic the property size is mostly indicated in the country region in "tareas" and in the cities in "square meters". The designation hectare is used relatively rarely.
Incidently here in the Dominican Republik they are using antique of spain and american metric units of measure. They are buying their benzin in "galón americano" (1 gallon = 128 Ounce = 3,785 liter). They are weighing in american libra (1 libra = 16 ounce = 450 gram). 25 libra = 1 arroba (noun), 4 arroba = 1 quintal (hundredweight), and 20 quintales = 1 tonelada (ton). Textile they are measuring in yarda (yard), 1 yard = 0,9144 meter.
If you should have fallen in love with a property, a little farm (here it
is named "finca") or a little house, please nevertheless absolutely consider
a few things: please allways have a look to the the so-called " Titulo
" (that is the official entry in the land registry and thus the possession
document), beg for a photocopy (front and rear side - and please test,
that the photocopy and original are equal). Say calmly that you would like
to let the title check gladly over a lawyer, the right are entitled to
everyone, which would like to buy a property. Only the owner entered on
this title may resell a property. Additionally a land register debt - if
available - is entered on the rear side of the title, what is also extremely
important to know. After the purchase change the title by your name as
soon as possible, even if this are additional cash costs. This will save
much security and you don´t would have problems to sell your own
property.
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www.dr-invest.com • www.acreare.com • www.domrep-immobilien.com www.dominican-realestate.net • www.dominicanrealestate.com.do www.domrep-infos.de • www.reisebuchkiste.de
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