Real Estate - Land Registry

Requirements

What do I need to perform a Title Study?

1. You need the certificate of freedom and tradition of the property, ideally with a date of issue no older than 30 days.

2. You need the public deeds and acts that appear registered in the Certificates of Tradition of the property during the last 10 years or a longer period as long as they are relevant and affect the right of ownership or any other real right over the property (mortgages, liens, judgments, among others).

3. It must have the Proof of payment of property tax and valuation of the property corresponding to the last 5 years.

4. Present the Construction License of the property in case there are buildings. 

5. Consult the document of Certificate of Use of Ground, where the use and the destination that can be given to a property according to the zone, the population, the avenues, streets, among others are specified. This plan is regulated according to the decrees of the Territorial arrangement planning POT. 

6. Check the criminal record of the owner of the property whether they are individuals or legal representatives of a company to validate that they have no restrictions.

Rural Properties

What do I need to do a Title Study? 

1. Verify if there are limitations to the acquisition (vacant lot or land, fractionation of the property UAF Family Farming Unit ranging from 1ha to 100ha depending on the area).

2. Carry out a special title study (According to article 48 Law 160 of 1994).

3. Conduct the study to verify possible risks with the land restitution policy (Law 1448 of 2011, Peace Agreements and other applicable regulations).

4. Verify if a rural economic and social development interest project (ZIDRES) can be developed on the property (Law 1776 of 2016) to access economic benefits.

Steps

What steps do I have to follow to perform a Title Study? 

1. Make the request for a title study 

2. Make the payment according to the rates of the particular law firm

Virtuality

Where can I go?

You may go to a Private Law Firm of your choice. See the Legal Services Directory for additional information on which law firms you can go to.

Costs

What is the cost of this procedure?

The cost may vary depending on the lawyer and/or the bank. However, according to Asobancaria (the banking association of financial institutions in Colombia), the cost is 0.12% of the value of the property.

Time

How long does this procedure take?

5 working days

Regulations

What regulations must I comply with?

Law 84 of 1873. Civil Code. (art.669) (Ordinary Law). 

Law 84 of 1873. Civil Code. (art.673) (Ordinary Law). 

Law 84 of 1873. Civil Code. (art.753) (Ordinary Law). 

Law 1579 of 2012. Whereby the statute of registration of public instruments is issued and other provisions are dictated (art.2. Literal a) (Ordinary Law)

Requirements

What do I need to execute the Public Deed of the real estate?

1. Present the contract of promise of sale of the real estate (commercial value)

2. Obtain the Certificate of freedom and tradition of the property 

3. Present a copy of the payment of the property tax 

4. Have the Proof of payment by concept of valuation of the property 

5. Have the identity documents of the buyer and seller

Steps

What steps must I follow to execute the Public Deed of the real estate?

1. Gather all the required documents

2. File the documents in the indicated entities

3. Make the corresponding payment for this service

Virtuality

Where can I go?

You can carry out the procedure through the following platform: https://notaria32bogota.com.co/escrituracion/

Costs

What is the cost of this procedure?

Depends on the investment capital.

• Fees: COP $1,000,000 - COP $2,500,000

• Notary fees: COP $100,000 - COP $500,000

• Registry office registration: 1.5% * value of the property (COP $50,000,000)

Approximate total: COP $1,950,000 - COP $4,250,000

Time

How long does this procedure take?

2 Calendar Days

Regulations

What regulations must I comply with?

1. Law 84 of 1873. Civil Code. (art.1857) (Ordinary Law). 

2. Decree 960 of 1970. Whereby the Statute of Notaries is issued (art.12) (Decree Law). 

3. Decree 960 of 1970. Whereby the Statute of Notaries is issued (art.13) (Decree Law). 

4. Decree 960 of 1970. Whereby the Notary Statute is issued (art.14) (Decree Law).

Requirements

What do I need to register the new Public Deed of the property?

1. Present the receipt of payment of the registration tax

2. Present the Public Deed, act, contract, legal business, judicial order, or other acts subject to registration

Steps

What steps must I follow to register the new Public Deed of the property?

1. Gather the required documents  

2. File all the documents

3. Finally, make the corresponding payment

Virtuality

Where can I go?

You can go to the respective Public Instruments Registry Office in person

Costs

What is the cost of this procedure?

The registration of the public deed generates a tax that can oscillate between 0.5% and 1% of the value of the contract of sale presented in the public deed, the so-called Registration Rights will have a cost that oscillate between 0.6% and 0.9% and are generally paid by the buyer.

Time

How long does this process take?

Approximately 10 working days

Regulations

What regulations must I comply with?

1. Law 1579 of 2012. Whereby the Statute of Registration of Public Instruments is issued, and other provisions are dictated (art.4) (Ordinary Law) 

2. Law 1579 of 2012. Whereby the Statute of Registration of Public Instruments is issued, and other provisions are enacted (art.8) (Ordinary Law)