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Property Survey and CATASTRO

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Topographic Data and its importance.

Nicaragua's property title document registration system is rather unique in the sense that it is not controlled and managed in one single location and government department.

Several institutions have to provide documents in order to accomplish a successful registration. Here we will concern ourself with CATASTRO, the office ensuring that each property receiving a Catastral Certificate is in fact where it supposed to be and does not overlap other registered properties.

Think of each of the Departments of Nicaragua representing a large puzzle in which each property represents a game-piece. If just one property does not represent a perfect match to the neighboring properties a conflict arises and the potential for legal action between the property owners arises.

The current method used by the CATASTRO offices has not changed since its inception. This is basically a a manual process by which the employees of CATASTRO ensure that the coordinates of each property do not conflict with the coordinates of another property. Since this is a manual process it is potentially subject to human error.

The Nicaraguan government has initiated the process of computerizing the catastral registration and data storage process, but this will take many more years to be completed.

We have encountered several cases where the buyer of property received a CATASTRAL Certificate and later found discrepancies in the amount of area.

Some of the errors we encountered:

  • The points marking the property boundary on the plot plan are correct but the total area calculated is incorrect. (This is the most common problem.)
  • The geographic location description of the property is incorrect and therefore put the property or part thereof in an incorrect location. This could be very minor but eventually become an issue.)
  • The actual shape oi the property does not match the data of the plot plan. (There could be a various reasons for this.)
In the past problems with plot plans were mostly confined to larger and rural properties. However, recently we frequently also encounter them in subdivisions and urban properties in various departments of Nicaragua.
Last Updated on Saturday, 26 March 2011 15:31 Read about our Topographic Services
 

Sellers Agents Services

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Sellers Agents generally represent the Sell er of a property in case the Seller is unable to attend the closing of a sale.

A good Sellers Agent will protect the interest of the Seller throughout the entire closing process, often becoming involved even before the signing of the Buy - Sell Agreement.

He will ensure the Buy - Sell Agreement is in accordance with the agreed upon terms of the sale.

Throughout the closing process, the Sellers Agent will check each document before signature.

Often the Sellers Agent will ensure the applicable taxes are paid by the seller and submit the receipt in order to ensure the Buyer or his agent that the taxes are paid according to law.

Please contact us if you wish to use this article on your website.
© 2010 Nicaragua-Realty.com
Last Updated on Wednesday, 20 October 2010 20:31
 



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