The property can be of different forms depending on its possession and application:

Private Property and Public Property: Differences 

While individuals or private entities own private property, public property is owned by the state. An example of private property would be a home; an example of public property would be a park or plaza.

Collective Property and Its Application In Communities And Groups

Collective properties are those whose possession is collective; that is, they belong to a group or community. Therefore, they are properties with shared management and use.

An interior courtyard in a residential community is an example of a collective property. In this case, the yard is owned by all residents.

Although each neighbour does not have a specific part of the patio, everyone has the right to use it and enjoy said space. Decisions about your use or maintenance of the building, for example, must be made jointly by all residents or through a homeowners’ association. In this case, collective ownership ensures that all residents can benefit from a shared space such as an interior patio.

Transfer And Protection of Property Rights

The process of transmission or transfer of property involves the legal formalization of the new owner’s rights. In addition, it must be registered in the Cadastre.

Transfer of Property Rights

It refers to the process by which an individual or entity transfers ownership of an asset to another individual or entity. This action can occur in different ways: sale, inheritance, donations, etc. Each of these transactions must involve transferring rights and responsibilities over the asset.

Protection of Property Rights

It ensures that owners can use and enjoy real estate without legal interference from third parties.

To this end, measures protect owners’ rights and offer solutions in case of misunderstandings or disputes.

In the legal and real estate field, the transmission and Protection of property rights are two fundamental aspects of ensuring the stability and solidity of property transactions.

Property Transfer and Registration Process.

The property transfer process and its corresponding registration are two fundamental parts for the transfer to take place legally and guarantee the rights of all parties involved. They are a set of documentary, administrative, and protection aspects of the parties involved.

Some of the critical points of this process are:

  • Agreement between the parties: The transfer of ownership must begin with an agreement between the seller and the buyer, establishing the terms and conditions of said action.
  • Documentation and verification: Once the terms are agreed upon, it is necessary to have the necessary Documentation to formalize the transfer of ownership.
  • Signing of the public deed:the process is officially carried out by signing a public deed before a notary.
  • Settlement of taxes and expenses:before the property is transferred, it is necessary to settle the taxes and expenses related to the operation: Property Transfer Tax, notary expenses and other local taxes.
  • Property registration:once the deed has been signed, the property must be registered in the corresponding property registry. At that moment, the new ownership becomes effective, with legal certainty for both parties.

Legal And Judicial Measures to Protect Property Rights.

Legal and judicial measures are crucial when it comes to property rights. This way, we avoid possible rights violations, disputes, or misunderstandings.

Legal and judicial measures ensure that owners of real estate can enjoy and exercise their rights over the property. Some of these measures are:

  • Legal Recovery Actions– Ensures that the owner of a property can take legal action if someone attempts to usurp or take illegal possession of said property.
  • Protection against unjust expropriation:It is true that the government can acquire private property for reasons of public interest. However, the law establishes that the owner must receive fair compensation, which is an assessment for a takeover.
  • Actions against intrusions:the owner can take legal action to stop intrusions that interfere with the exercise of property rights.
  • Annulment actions:If the transfer of ownership has been carried out fraudulently, the original owners can resort to legal actions to restore their rights.

Leave a Reply

Your email address will not be published. Required fields are marked *