fbpx

From purchase to title

If you want to live permanently in Paraguay as a foreigner or if you want to open a bank account or get a driving license, you always need the Paraguayan identity card called cedula. However, with a valid passport you can buy land and real estate in Paraguay. The process from the purchase procedure to the title of ownership takes several months. When everything has been completed properly, you will receive a paperback from your notary public with a map and the geographical data of the property, a certificate from the municipality and the land registry, the notarized purchase contract and various official payment documents. All these documents together constitute your title of ownership.

Fraccionamiento or Barrio cerrado

In the case of land developed and offered for sale according to the rules of the “Fraccionamiento”, public and unrestricted access is guaranteed, as the roads remain the property of the municipality. Public road plots in Paraguay are at least 16 m wide and divide the areas into the typical checkerboard pattern of the country. Fraccionamientos are widespread in Paraguay and are advertised everywhere on large billboards.

Individual street widths can be found in a Barrio cerrado or privado, a Condomio, Conjunto or Country. Behind all these designations there is always a residential complex whose legal basis is laid down in a “REGLAMENTO SOBRE PROPIEDAD COMÚN, COPROPIEDAD, ADMINISTRACIÓN Y DISPOSICIONES GENERALES”. The statutes are approved by the municipality and are part of the contract of sale. The Valle Tucán project is based on these legal structures.

Development and parcelling out

If you are interested, you can request the “Statute on the common property, ownership, management and general regulations of the Barrio cerrados Valle Tucán” via our contact form. You will receive a Spanish and a German copy of the statutes as well as the purchase and construction contracts. Since the contracts are concluded according to Paraguayan law, the Spanish copies are always legally binding.
The payment for the purchase of a house or land is made in two parts. One at the conclusion of the contract and the other part is due at the notarial title transfer. In case of a building contract, payment is made depending on the progress of the construction and the final payment at handover and acceptance.

Bank transfers from abroad are usually possible without any problems. If higher amounts are transferred, the Paraguayan banks are obliged to document the transfer to the authorities. It is therefore usual that the recipient of the money must present the purchase or construction contracts and a “bank letter” is required from the sender’s bank. In this “Letter of reference” the transferring bank confirms that the amount comes from a client’s account.

© 2021 JANISCH S.A. | Webdesign by  Parared - This is IT services