SANTO DOMINGO - Highlighting the contribution it has made to simplifying processes, speeding up response times, digitizing procedures, and modernizing the operations of the Real Estate Jurisdiction to strengthen the land tenure and titling process, the Real Estate Registry (RI) celebrated the 15th anniversary of the enactment of Law 108-05, which regulates real estate rights in the country.
Engineer Jhonattan Toribio Frías, general administrator of the RI, highlighted that since the implementation of the regulations, the growth of the real estate sector has been evident and that the Dominican Republic is in an accelerated process of urbanization, which has led to the population living in urban areas doubling in recent decades compared to the proportion of 50 years ago, which is reflected in vertical growth as a rapid response.
During the event, the panel “XV years of the implementation of Law 108-05 on Real Estate Registration” was held, which showed a journey through the evolution of the Dominican registration system in the last 15 years, its progress and challenges.
The event was attended by the President of the Supreme Court of Justice and the Council of the Judiciary, Luis Henry Molina Peña, as well as prominent national and international figures linked to the legal, registry and cadastral sectors.
The panel included prominent speakers from the business, banking, tourism, and construction sectors.
The inaugural conference was given by the distinguished professor and lecturer Dr. Nicolás Nogueroles, registrar and former secretary of the IPRA-CINDER Center (International Center for Registry Law), who was in charge of the conference "Why do registry systems fail?".
The event agenda also included discussions on the dematerialization of guarantees, interoperability between property registration and public registries, and the digitization of registries and cadastres.
During the development of these forums, it was highlighted that the digitization of real estate records saves process time, reduces bureaucratic costs, and promotes legal certainty.
The event concluded with a panel on updating the regulations for the application of Law 108-05, where its innovations and improvements to the processes were presented.
Registry network meeting
As part of the anniversary celebrations, the first meeting of the Ibero-American Registry Cooperation Network (IBEROREG) was also held, marking the tenth anniversary of this international organization.
Since 2021, the Dominican Republic has held the general secretariat of this organization for the first time for the period 2022-2023, represented by the national director of Title Registration, Ricardo José Noboa Gañán.
