DOMINICAN REPUBLIC Law and Practice Contributed by: Alfredo Guzmán Saladín, Fabio Guzmán Ariza and Julio Brea Guzmán, Guzmán Ariza
1.3 Proposals for Reform The Dominican Republic has been improving the legal framework to make the buying and selling of property more straightforward and secure. These efforts include streamlining the process for acquiring title insurance and registering prop - erty, both crucial for foreign investors; as well as improving transparency. Regarding government policies in 2024, areas of focus include further development of infrastruc - ture, enhancing tourism facilities and continu - ing to improve the legal framework for property transactions. It is expected that this year will bring a fiscal reform as one has been recommended by the IMF. 2. Sale and Purchase 2.1 Categories of Property Rights Dominican real estate law recognises the follow - ing interests in real estate: • absolute ownership; • usufruct;
enhancing tourism facilities, and continuing to improve the legal framework for property trans - actions. Disruptive Technologies Disruptive technologies have transformed eve - ry step of the real estate value chain, provid - ing massive opportunities for the industry. The technologies with the highest rate of adoption include augmented reality (AR), drones and arti - ficial intelligence (AI), along with instant commu - nication channels and social media, big data and the 5G network. So far, the fastest adoption has been in AR and drones for surveying properties and neigh - bourhoods and for providing virtual tours. At the same time, due to the fast-paced nature of the business, instant communication tools and social media have also had a significant impact. There is still room for improvement in the way big data is being used by the industry, but this will likely change as AI-powered customer rela - tionship management and listings become more prevalent. There are also high expectations of the 5G net - work, to which the president has given priority, as this will influence real estate development, from the way existing structures are used, to the way in which new structures will be integrated into the internet of things. Smart buildings have been the standard for new constructions in the country for some time now. In addition, the expectation is that as blockchain technology becomes more mainstream, it will permeate the industry, having been touted as a far more secure and transparent way to conduct transactions.
• easements; • betterments; • leases;
• condominium regimes; and • privileges and mortgages.
It does not recognise co-operative ownership arrangements or other occupancy interests. 2.2 Laws Applicable to Transfer of Title Registration rules are established by the General Director of the Registries of Title and are applica - ble nationwide. The Dominican Civil Code states that buyers pay all the fees, expenses and taxes
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