The increase in the purchase of land is attributed to population growth. Therefore, Cofopri implements regulations for the immediate sale of properties that have been legalized.
The sale market of Land In Peru, it experiences a notable increase in its attractiveness, driven by population growth and the growing need for housing. The informal property formalization agency (COFOPRI) establishes regulations that restrict the immediate sale of land that have securities legalized
The initiative seeks to safeguard the population and stop the growing illegal land traffica problem that has been increasing in recent years. It is essential that, although the possibility of obtaining a free property title may seem like a tempting option for those who wish to sell a home, it is necessary to take into account the limitations that accompany this process.
How many years should a house be sold, according to Cofopri?
Cofopri has determined that beneficiaries From a free property title they must wait five years before they can transfer or sell the land. This provision seeks to stop the marketing of land, a usual practice among land traffickers. Law No. 31056, which extends the deadlines for the degree of informal possessionsIt incorporates this restriction in order to safeguard families that really require these property titles.
In accordance with the guidelines established by Cofopri and Law No. 31056, it is intended to prevent speculation and Inappropriate land sale. This regulation ensures that families that really need these property titles have the opportunity to obtain them equally and safely.
What happens if the owner transfers a free title of Cofopri?
If it is determined that a land with title deed Free has been transferred before complying with the term of five years stipulated, the informal property formalization agency has the authority to reverse the property to the State.
This measure implies that the transfer will be considered void and cannot be registered in the Land record of the National Superintendence of Public Registries (SUNARP). It is important to highlight that the benefit of obtaining a free title for free will not be available for those who already have another property registered in their name in the country.
What are the requirements to access the Cofopri owned title?
The informal property formalization agency grants property titles to those who have occupied land in a peaceful, public and continuous way for more than 10 years. This process facilitates regularization of the propertywhich makes the occupants full owners.
According to the integral and simplified procedure for the declaration and regularization of properties in situations of informal possession, known as MOMAIN ACQUISITIVE PRESCRIPTIONformalization is carried out in private property lands that must meet certain additional requirements.
- Affidavit that there is no judicial or slope action against the holder.
- A register of citizens, with no less than 50% of the application.
- Evidence that accredits the possession of 10 years.
Source: Larepublica
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