He Informal Property Formalization Agency (COFOPRI) Continue with your work of granting Property titles to citizens who occupy land in a peaceful and prolonged way. This measure seeks to provide legal certainty to thousands of families in the country, allowing them to access benefits such as mortgage loans and basic services.
To access the formalization, the occupants must meet specific requirements and present documentation that supports their possession. In addition, there are restrictions that regulate the transfer of the lands entitled to avoid irregular land marketing.
Cofopri: How long should you occupy land to obtain the title of property?
According to the procedure established by Cofopripeople who have occupied land for a minimum of 10 years Continuously, peaceful and public, they can request the title of the property. This rule applies to informal possessions that are not subject to litigation or pending claims in judicial instances.
Formalization is carried out through the mechanism of MOMAIN ACQUISITIVE PRESCRIPTIONwhich allows the occupants to legally recognize as legitimate owners of the property. For this, the occupation is required to have been demonstrated with documents that evidence the time of permanence in the field.
Requirements and conditions to access formalization with Cofopri
To get the title deedapplicants must submit a sworn declaration in which it is confirmed that there is no legal action against it related to the property. It is also necessary to have a register of occupants that represents at least 50% of people interested in regularization.
In addition, applicants must provide documentary evidence to prove the occupation of the land for the minimum period required. These evidence may include service receipts, informal purchase-sale contracts or records issued by local authorities.
Restrictions and limitations after receiving the title of property
The beneficiaries of a title deed granted by Cofopri They may not sell or transfer the land during the first five years after formalization. This measure, established in the Law No. 31056seeks to avoid real estate speculation and the resale of awarded properties.
In case an irregular sale is detected within the restriction period, Cofopri has the power to reverse the ownership of the property to the State, invalidating the transfer. Likewise, the rule stipulates that those people who already have another property registered in the SUNARP LATTER REGISTRATION.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
