AckersinNica
8/4/2016 17:29 EST
Hey everybody-
Transfer taxes should be about 2% of the value of the property but is there an additional fee to actually register the property in your name and receive the escritura in your name?
I know it's an almost impossible question but any guesses at all as to how long the registration process will take once we have paid the transfer tax?
We are supposed to start construction in mid-November on our modest house and the contractor needs the escritura with the solvencia by October 1st.
Advice? Expedite fee, etc.?
Thanks
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KeyWestPirate
8/5/2016 10:28 EST
I did my own twice. This was at the Registro in Somoto. It took me about a day each time. Memory is a little hazy because it was so long ago, but I remember the Registro, trip to the bank, to tax office which had its own caja, and back to regisro.
Again memory fails in detail, but I remember Registro closing at 2PM, I just got back in time to submit everything.
Then,, I had to return to the Registro in a week or so to get the escritura which was at that time hand written into large books, beautiful hand writing.
I imagine it is all computerized now, and the books have been digitized. That was five years ago.
I bought two 11 Mz parcels of the same larger piece to make my 22 Mz farm. The cost of the registration I remember as $750 per incident, which was split between the tax office and Registro.
I pay my taxes in Telpaneca. The only way I know to do it is in person. They have gone up a dollar or two every year, now are at the outrageous sum of $20 year for the two parcels.
Good luck on your construction! Always an adventure.
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AckersinNica
8/5/2016 16:46 EST
Hmmmm....I know the transfer tax is 2% as has been advertised and I agree with my question then is...does a 1% "registration" fee in addition make sense? Are these two separate fees for the transfer and then the registration? Seems high for me, but I could be well wrong, and I have no idea how long it will take, lawyer says $450 extra to expedite and have it all done in 15 business days....advice?
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KeyWestPirate
8/5/2016 17:32 EST
There were two separate fees in my case, hence the trip to the bank where I picked up a pre-printed deposit slip to pay the Registro.
I remember them being roughly equal,, but that could have changed.
For the cost of lawyers here, I would hire a second to check the work of the first, or at least, consult with a second.
The registro office will have lawyers researching titles. If your Spanish is good enough,,, maybe a place to start.
$450 sounds ridiculous to me. If you disclose your location you might get a recommendation to that rarest of Nicaraguan species, an honest lawyer. The majority are as crooked as the Cucamonga north of Estelí.
The rest are incompetent, but once in a WHILE . lightning strikes twice . .but you'll have a hard time finding her without a referral
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