Surveyors Guild: National land deed system could collapse
Santo Domingo.- Dominican Republic’s surveyors guild (Asodagrim) on Sunday urged the Executive Branch to retake control over the Real Estate Jurisdiction to avert a collapse in the certification of properties.
Guild president Miguel Valoy said the Supreme Court’s inability to manage the Real Estate Jurisdiction has led to the waste of US$70 million he affirms were spent in 2007 to modernize Land Court procedures. “The results weren’t what investors expected, which in the end are the most interested.”
He said Asodagrim has sought to work together and find a solution to the as many as 20,000 land titles now pending liquidation, which have negative impact for tourism investment and banking.
Accompanied by guild officers Oqueilis Montero and Rafael García, the expert said they’ve tried without success to get an amendment to Real Estate Law 108-05 for several years, which they affirm has slowed the registration system.
Interviewed by hoy.com.do, Valoy said the government no longer collects significant taxes from land transfer and transactions, because the slow issuing of titles and lack of judges for cases has hobbled the processes.
Category: DR News |