An architect inspects the property and prepares the cadastral plan
Agency: Municipality (Gobierno Autónomo de la Ciudad de la Paz)
An architect must go and verify the property to determine its cadastral value and prepare a cadastral plan. This plan is required to obtain the Cadastral Registry Certificate and the Unified Form in the Municipality.
Time and cost: 60 days, BOB 800 (Approx. BOB 800. The Architect’s fees vary according to the type of work required. Updating the information of an existing Cadastral Certificate will be less costly than requesting a new Cadastral plan of the property.)
Obtain the ownership and non-encumbrance certificate (“Folio real actualizado”) at the Land Registry
Agency: Land Registry (Registro de derechos reales)
The seller must obtain the “folio real actualizado” before starting the transaction formally. The Folio Real is the certificate showing the current legal status of a property.
The document is composed of 3 main parts:
- Ownership over the Domain, with all the owners of the property in the last years
- Non-encumbrances, showing the liens and Restrictions over the property; and
- Cancellations of loads or mortgages
In the case that a lawyer is hired to prepare this application and do the follow up of the procedure, he/she will charge a minimum of BOB 100.
The procedures with the Land Registry can be followed up online: http://magistratura.organojudicial.gob.bo/
Time and cost: 1 day, BOB 112 (BOB 112 for the Land Registry certificate (Folio Real))
The seller must obtain the Cadastral Registry Form at the Municipality including the cadastral value of the property
Agency: Municipality (Gobierno Autónomo de la Ciudad de la Paz)
The seller picks up the map prepared by the architect at the Municipality, and at the same time obtains the standardized Cadastral Registry Form, including the cadastral value of the property.
This form is usually not in possession of the seller, or it is not up to date due to modifications on the property.
The seller should present the following documentation to complete this procedure:
- Public Deed of the purchase of the property
- Public Deed of the purchase by the previous owner
- Property Title issued by the Land Registry
- Yearly property taxes for the last 5 years
- The ID of the seller
- Proof of payments of utility services (such as electricity, water, gas, phone if applicable)
- Cadastral map/plan of the property prepared by an architect (obtained in Procedure 1)
- Non-encumbrance certific
If the Cadastral Registry Form is obtained with the support of an external professional, the costrease to BOB 140
Time and cost: 1 day, BOB 46 (BOB 46 if the Cadastral Registry form is obtained directly by the seller)
Lawyer prepares the sale agreement (“minuta”)
Agency: Lawyer
The seller is responsible for gathering all the documentation, which includes:
- Property title issued by the Land Registry
- Updated Folio Real (obtained in Procedure 2)
- Yearly property taxes proof of payment for the last 5 years
- Public deed of the purchase of the property
- Legal representative power
- Cadastral Registry Form issued by the Municipality (obtained in Procedure 3)
The rates are established by article 40 of the Decree No. 16793 19/07/79 sanctioned by Agreement No. 034/2005 de 2/08/2005 of the Court of Justice of La Paz. Likewise, the recent law N 387 of July 9, 2013, also regulates the attorney’s professional fees in chapter IV. However, the parties can agree on a different rate with the notary depending on their financial resources.
Time and cost: 2 days, BOB 12,268.92 (BOB 300 + 1% of the price of the transaction)
The “minuta” is delivered to the Municipality for payment of transfer taxes and the name of buyer is recorded
Agency: Municipality (Gobierno Autónomo de la Ciudad de la Paz)
The buyer obtains the sales tax certificate and registers its name at the Municipality. The documentation shall include the sale agreement or “minuta.” The payment is made at a commercial bank, and the payment receipt will have to be shown to the notary later.
Time and cost: 1 day, BOB 35,906.76 (3% transfer tax levied on the cadastral value of the property or purchase price, whichever is higher)
The notary notarizes the “minuta” and prepares the public deed
Agency: Notary
The “minuta” is executed by a Public Notary, who prepares the public deed. The number of pages of the “minuta” or sale agreement depends on the lawyer and the clauses in the contract between the buyer and the seller.
The documentation shall include:
- Sales tax certificate (obtained in Procedure 5); and
- Certificate that the buyer is registered at the Municipality (obtained in Procedure 5).
The fees levied by the Notary are governed by Administrative Resolution number 013/2015 of the Directorate General of the Notary (Dirección del Notariado Plurinacional)
Time and cost: 2 days, BOB 180
The public deed is delivered to the Land Registry for its recording under the name of the buyer
Agency: Land Registry (Registro de derechos reales)
Even though the Land Registry has been computerized recently (http://magistratura.organojudicial.gob.bo), most of the information on previous titles is not in the system and time is needed to search physically for old titles. This step will require a considerably less amount of time when all the information is included on the system.
The documentation needed to lodge for registration includes:
- The notarized “minuta”;
- Payment receipt of transfer taxes
- Proof of payment last yearly property tax
- Cadastral plan approved by the GAM (Gobierno Autonomo Municipal) and/or cadastral registry form
- Legal representative power
Time and cost: 25 days, BOB 6,384.46 (BOB 400 + 0.5% on the cadastral value of the property or purchase price, whichever is higher (registration fee))
