SANTO DOMINGO. – The Royal Spanish Academy establishes three definitions for the term fraud: An action contrary to truth and rectitude, which harms the person against whom it is committed; an act tending to evade a legal provision to the detriment of the State or third parties; and thirdly, it defines it as the crime committed by the person in charge of overseeing the execution of public or some private contracts, conspiring with the representation of opposing interests.
Regarding the issue of scams, the Dominican Real Estate Registry (RI), an entity whose mission is "to guarantee real estate rights and their registration, promoting a climate of trust, economic development, legal security and social peace in the Dominican Republic," invites users to avoid being victims of real estate fraud before buying or mortgaging a property.
It recommends implementing four procedures: The first is to request the property's legal status certificate from that office. "This document defines who the owners are, whether it has any encumbrances, or if it is the subject of litigation," the state entity emphasizes on its website.
The second suggestion from the RI is to request the issuance of a priority reservation certificate. "This creates a 15-business-day registration hold on the property and guarantees the registration date of the legal transaction," it notes.
As step three, it recommends the "parcel consultation", which allows verification that the designation of the property corresponds to its location.
Finally, the Real Estate Registry recommends seeking advice from specialists in the field.
