Through the publication in the Official Gazette of the Decree 962/2018, the national government introduces two major changes to the Land Registry Act: now they can register the purchase of tickets for houses purchased from the borehole, and in order to do this, the parties do not need a notary if they join the digital signature system promoted by the Ministry of Modernization.
This new process, though it will start in CABA, is intended for the whole country, as it derives from the recital of the new standard and aims at those who buy property from the well they have legal protection as if they had an act and, on the other hand, access to a mortgage loan.
"We believe this is a positive tool for solving one of the most controversial aspects of access to financing for the acquisition of property with a family destination. Today, buying a building in the well does not have any credit, and it hurts investors and tenants who want to become owners," said Alejandro Bennazar, president of the Argentine Chamber of Real Estate.
"This is a very good measure, and so is the digital signature of the ticket, which implies modernity, speed, less paper, and lower costs," said Bennazar.
In his opinion, "there is a housing crisis and a fall in the market for the decline in the loan, This type of tool will enable those who do not have cash for the investment to have other options and legal protection. "
The Sector Commission proposes more measures such as certification of tenants to qualify for a loan, promoting greater transparency at AFIP through tax relief for owners and small investors, and adaptation of regulations in the various regional scenarios of our country.
"All of them would favor the growth of the vital economic sector," said Bennazar.
According to the Regulation, in order for the Registry to register purchase tickets for future functional or complementary new units to be constructed or under construction, certain conditions must be met.
The buyer has bought a ticket by a registered real estate owner or one who is his successor specific or universal title.
Another requirement that appears in the official decree is that the buyer had to pay at least 25% of the total price, and the party must digitally sign the purchase ticket and presented via Remote Distance Platform (TAD) electronic document management system.
This condition is to determine its true date and authorship and the integrity of the electronic document.
In the event that the parties have no digital signature, they can buy or buy a ticket through public notary intervention.
In that case, the notary is the one who has to present it through the Remote Distance Platform (TAD) in front of the Federal Capital Registry with its digital signature.