Real Estate Law Consulting
Our firm provides its clients with advice on real estate excellence, especially in the sale and acquisition of properties.
We advise our clients in the processes of real estate sales and acquisition. Through rigorous title studies, drafting and negotiation of promise, sale, lease, lease, construction contracts, among other civil and commercial documents.
In these matters, we advise individuals, independent property brokers, and also companies, real estate and construction.
Here is a legal guide to provide you with guidance on real estate legal advice:
What is real estate law?
Real Estate Law corresponds to an area of law that regulates relationships and transactions involving real estate or real estate . These include real estate contracts, purchase and sale contracts, promise-to-sale contracts, registry law, urban planning, notary law, real rights, inheritance law , among other related legal matters.
Where is real estate law regulated in Chile?
In our country real estate law is regulated in different legal bodies , among them the main ones are the following:
1.- Civil Code of the Republic of Chile
2.- General Law of Urbanism and Constructions
3.- General Ordinance of Urbanism and Constructions
4.- Regulations of the Conservatory Registry of Real Estate
What are the most common real estate legal advice?
Among the most recurring real estate legal advice provided by Wolfenson , the following stand out:
Completion of Degree Studies
Real Estate Administration and Management
Dissolve and liquidate communities on Real Estate
Carrying out mandates on real estate
Drafting of rental contracts on real estate and drafting of real estate sales
Effective ownership of real estate
Carry out an adequate regulation of lots and constructions
Sanitation of titles and real estate
Contract review, analysis of real estate contracts
Resolution of real estate disputes
Correction and correction of objected deeds before the Real Estate Conservator and repair of errors in conservatory registration
Carrying out procedures with the Real Estate Conservator , mortgage certificates, certificates of encumbrances and prohibitions (GP), and also the purchase and sale registration before the Real Estate Conservator
Real estate management
Carry out the legal lifting of mortgages and liens on real estate
Notary management , sending deeds for signature and coordination with the main notaries of Santiago and Chile
Legal and commercial advice
Assignment of rights over a property , sale of percentage of rights, assignment of hereditary rights
Drafting and correction of real estate contracts, property sales contract, promise of sale, and lease
Real Estate Litigation and claims on real estate , regarding individuals, heirs, or real estate companies
Constitution of the right of usufruct on a real or real property .
What are the most common contracts on a property?
There is a wide range of contracts that can be signed regarding real estate , but the most frequent real estate contracts are:
1.- Mortgage Contract: To have money quickly to carry out a business, or who buys a property without having enough money for it, you must go to a bank, who requires you, the constitution of a mortgage guarantee on a real estate , as a condition of granting that loan or mutual money. The mortgage contract is constituted by public deed before a notary public , a contract that must then be registered before the competent Real Estate Conservator of the domicile where the respective property is located. Wolfenson advises clients on mortgage disputes.
The mortgage is then defined, as a right that taxes a property, which does not cease to remain in the power of the constituent, to ensure the fulfillment of a main obligation, granting the creditor the right to pursue the mortgaged property in the hands of whoever owns it. and to be paid with its realization or auction .
2.- Lease Contract: A Lease Contract is a contract between two people ( lessor and lessee ), where the first of them agrees to temporarily transfer the use of a property owned by him to the second. Once the lease or lease contract has been signed, the parties are bound to what has been agreed as long as it is not contrary to current law. A verbal lease is also legally binding, notwithstanding the fact that for the purposes of proof of possible discrepancies or future problems, it is always recommended to do so in writing, generally leaving a one-month rental guarantee when signing the contract. Wolfenson Abogados specializes in the drafting of lease contracts and their judicial execution.
What is Real Estate Co-ownership?
The Real Estate Joint Ownership is a legal institution that supposes the existence of real estate , land or common areas, where assets that belong to all who inhabit it and others that correspond to each of the owner owners concur.
Where is the Real Estate Co-ownership regulated?
They are regulated by means of Law N ° 19.537 , on Real Estate Co-ownership and the respective regulation , the latter establishes the norms that regulate the coexistence, the use and the limitations regarding the goods or common places , as well as their administration, maintenance and distribution. of expenses.
In order for a condominium or building to benefit from said regulation, it is necessary to organize itself in an assembly first. Establishing in it an administration committee , defining who will be the administrator of the condominium , opening the bank account destined for the administration and then establishing an internal regulation, which - among other things - must organize and establish the rules regarding the use of the common goods . Wolfenson Abogados provides legal advice for the drafting of joint ownership and condominium regulations.
How is compliance with the rules established in the co-ownership regulation guaranteed?
Compliance with the rules can be encouraged by establishing and applying fines , contained in the regulations or, where appropriate, established by the respective local police judge .
Furthermore, the real estate joint ownership law establishes a series of sanctions in the event that common expenses are not paid, such as the application of fines , interest and even the cut of basic supplies (such as water, electricity and gas cuts). , notwithstanding that, it is the co-owners themselves who are allowed to establish further measures or sanctions, which must be approved in an ordinary assembly and established in the regulations of joint ownership of the respective building or condominium .
How are the common expenses of a real property fixed?
Common expenses are set by the following form of calculation, based on the tax assessment of the property or unit in question . In the event that all properties have the same value, a similar fee will be paid. The Assembly of Owners will be in charge of fixing the common expense .
Who is allowed to use the law that regulates real estate joint ownership?
Co-owners of buildings, commercial premises, warehouses, condominiums, offices, parking lots , among others, can use this law .
What is the function of the joint owners' meeting?
Its role is to deal with any matter that is related to a matter related to the interests of the co-owners , establishing agreements that may later appear in the co-ownership regulations . There are two classes of assemblies , the ordinary and the extraordinary .
1.- Ordinary assemblies must meet at least once a year. In this type of assembly, the management and any matter of interest to the co-owners must be accounted for.
2.- The extraordinary assemblies for their part, must meet whenever the needs of the condominium demand it, or at the request of the Administration Committee or the co-owners who represent, at least, fifteen percent of the rights in the condominium . In them, only the topics that are previously established in the citation can be treated.
Links of interest about Real Estate Legal Advice :
1.- Civil Code of the Republic of Chile
2.- Law Nº 19.537 On Real Estate Co-ownership
3.- General Law of Urbanism and Constructions
4.- General Ordinance of Urbanism and Constructions
5.- Santiago Real Estate Conservator
Wolfenson Lawyers. Chile Law Firm.
If you need more information and legal advice in real estate law for property brokers, individuals and companies, we invite you to contact our lawyers in Santiago. We are located at Avenida Apoquindo 2930 in the commune of Las Condes, Santiago de Chile.