The modification to the regulatory framework of Law No. 108-05 is due to the need to adapt the applicability of said regulations to the evolution of the needs and requirements of the real estate sector, both in the regulatory, technological, economic and social spheres, with a view to strengthening legal security in the country, as well as the efficiency and effectiveness of the Dominican real estate registry system.
SANTO DOMINGO.– Tomorrow, February 2nd, the public consultation process being carried out by the Supreme Court of Justice to adapt the regulatory framework of Law 108-05 of the Real Estate Registry in the Dominican Republic concludes.
The president of the Third Chamber of the Supreme Court of Justice (SCJ), Magistrate Manuel Alexis Read Ortiz, valued the process and expressed his optimism about the result that will be obtained from it and urged legal operators to participate.
Magistrate Read, who has extensive experience in real estate matters, made his statements during his participation in the webinar “Proposal for modification of complementary regulations of law no. 108-05 of Real Estate Registry: main changes”.
“I think this is a great achievement and that the best will come out of this; I encourage legal professionals to participate. This follows many discussions and working groups. It was agreed that a period for public discussions would be established, and we are following that path, and I believe the result will be very positive,” stated Judge Read, as quoted on the Real Estate Registry website.
He also expressed that he has worked closely with the team that worked on drafting the regulations, while appreciating the transparent and democratic spirit in which the ideas have been gathered and implemented.
The modification to the regulatory framework of Law No. 108-05 is due to the need to adapt the applicability of said regulations to the evolution of the needs and requirements of the real estate sector, both in the regulatory, technological, economic and social spheres, with a view to strengthening legal security in the country, as well as the efficiency and effectiveness of the Dominican real estate registry system.
The proposed regulations are the general regulations of the Courts of Real Estate Jurisdiction, of Title Registration, of Cadastral Surveys, and for Parcel Regularization and Demarcation, documents that are in the public consultation section of the Real Estate Registry portal.
The webinar, organized by the National School of the Judiciary (ENJ), also featured the participation of consultant Desirée Barinas, who indicated in her presentation that the proposed modifications "are intended to implement a modern Real Estate Registry, aligned with the development of the country through innovative practices of land surveying and property registration, and to strengthen legal security and the legal management of the Real Estate Registry.".
As part of the consultation process, a day of socialization and academic discussion was also carried out with the Law School of the Pontifical Catholic University Madre y Maestra.
