How do I find out if someone owns property in Colombia?

Aji1 says on Feb 16, 2007, 10:39:

I Smell a Lawyer I know that smell, I smell a lawyer!!

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JMCana says on Feb 16, 2007, 10:49:

Why Could be IRS, collection agency, or some foreign government department.

So the question becomes, Why do you want to know?

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Azul says on Feb 16, 2007, 10:59:

.....or an angry ex-wife :-)

las cosas caen por su propio peso

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Mr. Hollywood says on Feb 16, 2007, 11:00:

It's easy Just ask their testaferro.

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JMCana says on Feb 16, 2007, 11:03:

could be Need to check the divorce papers. I think roberts is the last name of that sneaky - good-for-nothing lawyer my cheating ex-wife used.

Starting to sound like a country song.

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jh816 says on Feb 16, 2007, 13:43:

Actually, kinda interested myself I'd like to know the process also. I'm looking to buy in a few months and was wondering. Been on the site for a few years, just a regular gringo, not a lawyer or collector.

Anyway, what's this testaferro? I know you have to file form 5 and 11 upon purchase but how public are these forms? Are any of the forms sent to your resident country to document foreign ownership?

Anyone got any experience or knowledge in this?
joe.

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Mr. Hollywood says on Feb 16, 2007, 14:06:

A testaferro Is the "fake" owner of something. I'm not even sure we have an English word to describe it. The person in whose name property is held but who doesn't actually own it. A front man, I guess. This is how, for example, druglords who are on the most wanted lists still manage to own huge real-estate holdings.

It was a joke.

Good luck finding out anything about who owns what in Colombia. Even if you find out, it's probably not true.

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vicshere says on Feb 16, 2007, 14:10:

first step your first step is to go the "registory" sry spelling every city or town has one
you need the exact address
in Bucaramanga it costs about 14,000
it takes about an hour and then you receive a computer print out of all the previous owners
it will show
--all the purchased prices of previous owners
--if the property has or had any liens or mortgages or money owing the city or government
remember to do another search the day your transfer the payments incase some smart ass decides to put a lien the last minute.

you don't need a lawyer to do this either
you don't need a lawyer to do the transfer either
get it done at the "notoray" they will do everything for you
I think all the costs involved in buying my property was like 100,000



listo
"con mucho gusto"
Vic

listo

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gbeckler says on Feb 16, 2007, 15:39:

Property in foreclosure How is property in foreclosure handled? Do lenders foreclose and are there public sales? What is the process? Just curious.

Gary

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mroberts122 says on Feb 16, 2007, 16:08:

Thank You Thank you Vic - you had a very helpful and useful answer for me. I appreciate it. What if I don't have an address - I just want to know if someone owns anything. The city would be Bogota. Thanks again.
M

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mroberts122 says on Feb 16, 2007, 16:11:

Nope, I'm none of those. I just want to know if someone I know owns property in Colombia - or if he's lying to me. That's all.

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Aji1 says on Feb 16, 2007, 16:41:

Yep! A lawyer

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vicshere says on Feb 16, 2007, 17:59:

roberts sorry don't have an answer for you on that one...I can just tell you about my own experiences....but if I had to guess.. I would think its going to be a tough find ....maybe with a cedula you could get some kind of search done...but not sure


"con mucho gusto"
Vic

listo

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aztec says on Feb 16, 2007, 18:00:

Buying Real Estate in Colombia
Buying Real Estate in Colombia
Legalities and Ownership
Existing law in Colombia has given full legal rights to foreign citizens who want to invest in Colombian real estate. Anyone can buy and own a real estate in Colombia. The new law (Decree 241) has made the procurement procedures much simpler, firstly, by permitting foreign investment in real estate without limitation; and secondly, by repealing a constitutional provision that empowered the Colombian government to confiscate foreign-owned property without providing any compensation.

In order to purchase real estate in Colombia, the buyer and the seller have to enter into a purchase/sale contract that is to be contained in a public deed and registered in the real estate records office in Colombia, which is called the departamento de bienes raíces in Spanish. The contract must include the name of the buyer and the seller, their respective I.D. numbers, the property's boundaries, the sale price, method of payment, and all other general information such as property's real estate number and commission plan, if a broker is used.

The buyer can sign either directly or through a third party representative. In the case of the former, the purchase/sale contract is realized through a preliminary public deed (minuta) that is later finalized by the notary for registration. In the later case, the buyer must provide a special power of attorney to his or her notary, who must have a proof of certifiable Colombian identification to sign the contract on the buyer's behalf. The power of attorney needs to be signed by the buyer before a public notary unless made abroad in which case the Colombian Consul in the country where the document is made must legalize the signature. A power of attorney that is signed abroad is considered valid if legalized by the Ministry of Foreign Affairs.

Before purchasing property, it is essential to verify that the property offered for sale actually belongs to the person selling it and that it is not subject to any liens or other financial attachments. This can be accomplished by requiring the seller provide the property's ownership history and a no-lien certificate (certificado de tradición y libertad), which should date back not more than one month. Requests for the ownership history and no-lien certificate of the property can be made at the local public instrument records office (Catastro in Spanish) in the area where the property is located. Included with the request should be the property's real estate registration number, the owner's address or I.D., and evidence that the certificate issuance has been paid.

The clearances of all the taxes can be ensured by obtaining an account statement of the property from the treasury office (known as oficina de información fiscal in Spanish) of the city or district where the property is located.

The purchase/sale public deed requires the following documentation:

•
Power of attorney issued by the buyer, if applicable.
•
Value-gain payment certificate evidence of payment of the value-gain taxes; generally levied by all municipalities.
•
Property tax payment certificate or photocopy of the latest tax return statement, with evidence of payment.
•
If the property is subject to a condominium regime (in the case of condos or houses in a residential complex) a payment certificate certifying that all maintenance and other fees are up to date. Alternatively, the seller may submit a notarized copy of the public deed that contains the condominium or association rules governing the property.
Financial Matters
The Colombian government requires foreigners to use "clean, non-laundered money". Investors must deposit funds into the seller's account by completing the Central Bank's Form No. 4. This cash transfer is not subject to any taxes since it is a foreign investment. However, the buyer within 60 days must register (using Form 11) the foreign investment with the Central Bank and attach the property's ownership history and no-lien certificate. This registration is mandatory if the buyer wants to exercise his foreign exchange rights, such as remitting the money abroad when he or she resells the property.

The payment of the agreed sale price has to be made to the seller in full. If the property has liens, then an initial down payment of 20 to 30 percent of the sale price is made to commit the seller to clearing the liens and other encumbrances such as unpaid taxes and unpaid municipal utilities.

The prevailing interest rates in Colombia vary annually for real estate loans. These loans are short-term loans and are primarily given to Colombian nationals.

Foreign buyers should engage a local broker with ample experience. The commission that the buyer has to pay to the broker is customarily 3% of the property value.
Other Important Issues
Taxes and other charges applicable during the process of acquiring real estate in Colombia as well as certificates dealing with the history of the property, detailed title enquiry and two certificates from the municipality, the Paz y Salvo Predial (which indicates that all municipal taxes on the property have been paid) and the ' Paz y Salvo de Valorización (which indicates that all taxes related to the increases in the value of the property due to improvements to the property or area have been paid) are generally borne by the buyer.

The notary office where the public deed is registered charges notary fees equivalent to 2.7 per each thousand of the sales price (normally the buyer pays 50% and the seller the other 50%).

If the seller is an individual, then 1% of the sales price is deducted as withholding tax (this tax corresponds to the seller). It is deducted at the source with the objective that the income does not leave the country with out being taxed.

Registration of the purchase/sale public deeds with the Public Instrument Records Office (Catastro) carries a payment of the corresponding registration tax (equivalent to 1% of the sales price), as well as the registration fee (equivalent to 0.5% of the sales price).

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ColombiaBoard says on Feb 17, 2007, 07:01:

It's easy But there's a little catch, you need the Cedula (ID) number of the person. Unless you know that you can't do anything.

In Bogota you go to two places to find out, that's because they have divided the city in two sections, so if the person owns in the north part you have to go to one office, if it's in the south to another office. Go to the white pages and look for "Oficina de Registro de Instrumentos Publicos".

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mroberts122 says on Feb 19, 2007, 09:55:

Cedula What is a Cedula?

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mroberts122 says on Feb 19, 2007, 09:59:

Cedula Hello - I do have the Cedula, or the Colombian I.D. # of the person. How can I find out if he owns property in Bogota? Can I find this out from the U.S.?

Thank you

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ujay says on Mar 9, 2007, 03:06:

You can info on anyone easily. Like ColombiaBoard says you can get a list of every single bit of property a person owns, by just heading or sending anyone - even a bum with 500 pesos can line up at the Oficina de Registro de Instrumentos Publico which I think that's the right name and get a list of properties on anyone. It's public access. Unlike the States where everything you can do by internet, here for most stuff you still got to line up and do things the traditional way. In the North of Bogota the office you go to is like on the 15th with calle 75 or 80. 500 pesos is all it cost me a few years ago when I went there to get info on properties owned by someone. And all you need is the person's cedula #

http://www.jukelightning.com

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