Separate Titles?

[PJT]

Fabio,

My wife and I are entertaining the thought of investing into new rental property, six apartments/condos. We would like to collaborate with two investors who are interested in order acquire the common land and a residence they can live in; four units for us and one unit for each of them.

This is prior to the land purchase and construction, so we need to be informed of the legal procedure to obtain titles for each unit. Is a special permit is required to authorize the construction of a apartment/condo complex on order to allow the separate titled units?

Regards,
PJT

[Fabio J. Guzman]

The requirements are the following: (a) land should have a "deslinde" and (b) approved plans for the construction. After that, contact your lawyer who will proceed to submit a petition to the Superior Land to have the property and its improvements declared a condominium.

[TCIDR]

would you be able to get an 'outline' planning approval after acquisition, but before any clearing of the land whatsoever?

[Fabio J. Guzman]

You can actually get a construction license based on the construction plans.

[timelessdreams]

Originally Posted by PJT

Fabio,

My wife and I are entertaining the thought of investing into new rental property, six apartments/condos. We would like to collaborate with two investors who are interested in order acquire the common land and a residence they can live in; four units for us and one unit for each of them.

This is prior to the land purchase and construction, so we need to be informed of the legal procedure to obtain titles for each unit. Is a special permit is required to authorize the construction of a apartment/condo complex on order to allow the separate titled units?

Regards,
PJT

PJT,

Please PM or e-mail me with details if you are still looking for investors in this project.

Thanks!
Susie