Real Estate Archives - Santana Ripoll & Assoc.

Condominiums in the Dominican Republic: A detailed look at Law 5038 and its amendments for a secure property.

Condominium in practice is a relevant topic in the Dominican Republic and is regulated by Law No. 5038 of November 21, 1958, as amended by Law 108-05 of the Real Estate Registry and its regulations. As the real estate market grows in the country, it is important to take into account certain aspects related to condominiums that are of interest to builders. In this summary, as a legal specialist, I will highlight 13 key points regarding the constitution and requirements of condominiums in the Dominican Republic. Continue reading →

The Dominican Republic recently enacted a law that is helping the country’s mortgage market to develop while providing significant opportunities for investors, as well as a boost for the country’s efforts to expand its housing stock.

The new law defines a number of key terms, including ‘trust’, ‘settlor’, ‘trustee’ and ‘beneficiary’. A ‘settlor’ is a party that transfers property to a trust that is under the care of a legal entity (e.g, a multiple-service bank or other financial institution or an investment fund manager), where such entity is authorized to act as a trustee for the benefit of a beneficiary. Continue reading “NEW MORTGAGE FACILITIES IN DOMINICAN REPUBLIC” →