Real Estate Law
CM Legal has guided numerous real estate transactions in recent years, from the purchase and sale of apartments in urban centers in Colombia to the purchase of lands and farms in rural areas.
Real estate transactions in Colombia have some pitfalls and peculiarities that make legal advice very useful. Many times, a careful review of the property documents reveals inconsistencies that must be clarified before purchase. Additionally, the notary public legalizing the purchase and deed of sale is not obliged to investigate and verify the full legal history of the property. Therefore, this review is of the utmost importance and is the obligation of the buyer and/or his or her lawyer. Also, the financial management of the purchase must be carefully planned from the beginning, especially for a possible resale at a later date, the subsequent application for an investor visa, and for efficient tax planning.
Good preparation and problem prevention are essential in real estate transactions. However, should legal disputes arise, CM Legal will provide all necessary support.
- Consulting for buyers and sellers of property.
- Support in real estate negotiations.
- Review of the legal history and the current situation of the property, identification of potential legal problems.
- Detailed completion of due diligence regarding the respective property, consultation with the competent authorities (depending on the case: planning, cadastral, environmental or other competent authorities).
- Support and advice for properties purchased based on construction plans.
- Communication support with banks and/or other financial service entities to open accounts, exchange currency, money laundering auditing, etc.
- Support with proper registration of the foreign real estate investment with the Colombian Central Bank.
- Drafting contracts for the sale of real estate and other real estate transactions.
- Review of land use legislation and local urban planning regulations.
- Advice on legal implications of real estate transactions from the perspective of family law and inheritance law.
- Assistance with applying for an investor visa to purchase property.
- Drafting and review of leasing contracts (for homes or commercial rentals).
- Litigation support for real estate transactions.