New arrivals – October 16, 2018
LATINALLIANCE, CENTRAL AMERICAN LAWYERS, informs you that, on October 9, 2018, the Supreme Court of Justice of the Republic of Nicaragua issued a Circular addressed to the Public Registrars of Real Estate and Commercial Property, through which, in order to protect personal security and the interests of the owners of goods and registered rights, guides:
In relation to the REGISTRY ADVERTISING, which may only request registered registration information:
- The registered owner
- The purchaser of a non-registered property
- Anyone who demonstrates an interest in securing a right
- The Notary in his capacity as representative of the owner, the acquirer or whoever has an interest in securing a right
- Competent authority.
In relation to the IMMOBILIZATION OF REGISTRY ACCOUNT, establishes that the owners may request the non-registration of transmission and/or alienation of their assets and rights, for a term of ONE YEAR, extendable, through a registry request that contains the personal data of the owner; and in case of being a proxy, certify their representation. In the case of real estate, registration data, area and location must be included; and for movable property, it must contain the registration data, specifications and identification number of the property.
In the case of commercial and personal rights, the registration data, company name, name and address must be added. However, the immobilization of the registry account does not prevent registrations, annotations or cancellations from being made by court order or competent authority. – The fee to pay for this procedure is C$1,000.00 (one thousand córdobas).
For more information on this or other Nicaraguan legal issues, contact us at the following address: abarquero@latinalliance.co