Beyond just knowing what documents to
request and their significance for a title search in Chile, knowing
the local problems and history is essential. For example, what are
considered problems in urban areas are not even recorded in rural
areas, and vice versa. What is true in the North of Chile and the
South of Chile is not an issue in the Central Regions of Chile. Let
us start by emphasizing that a complete title search should be done
by an attorney; not a real estate agent or someone else.
Just some of the problems you or your
attorney in Chile must consider on a region by region bases are the
delicate status of the water rights, colonization laws, the effects
of past agricultural policies of the Government, poorly conducted
surveys, zoning and building permits, to name a few. What to
look for is mostly determined by the history of local development
patterns of the region.
Knowing were to look for the problems
with any particular property is not an easy task, and finding the
right strategy for a complete title search takes time. The best
advice is take that time and do not rush into a purchase, or allow
anyone to rush you in to a purchase in Chile until the title search
is complete; however, a complete title search along with a solid contract based on that title search will help you
eliminate almost all the risk associated with buying real estate in Chile.
Documents Needed for a Title Search
in Chile
To start a title search you must have
the registration information for the latest title on the property.
The most important information is the county were it was registered,
the number and page of the registration, and the year when the
registration took place. The public record for each year will have
the same serial numbers and pages, so knowing the year is essential. If you
have this information, at the County Registry you can request the
Certificate of Valid Ownership ( Certificado de Dominio con
Vigencia ). With just this information a qualified attorney in Chile
will be able to start the title search processes that leads to all the other documents for the property.
You must keep in mind that a
comprehensive title search will include an examination of all
registrations for 10 years. This time frame it is based on the maximum
statute of limitations established by law for bringing legal claims
against a property in Chile. Many problems, or potential problems, can
be detected based only on the information collected by the title
registration. For example, potential legal claims based on
inheritance, pending contract obligations, and so on.
Each county (or group of
counties in the less populated areas of the Chile) has its own
regional Registry. For purchases of property in southern Chile,
handling a title search from Santiago will imply dealing with the
regional authorities, local municipalities, and the registries in the
city where you are purchasing the property. Often in remote towns you
will have to deal with the public offices in the provincial capital
and regional authorities to collect all of the needed documents. For
example, if you are purchasing property near Futaleufu, this will
mean dealing with the Municipality in Futaleufu, the Registry in
Chaiten, and the regional authorities such as the IRS office in
Puerto Montt. All of these are hundreds of miles apart, and each has its own office politics and culture.
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