Titling rights of possession (ROP) land can be relatively straightforward or may require a patient wait-and-see approach depending on the type of land.
- PRONAT titles whole districts at a time under 2 separate programs. In both cases, the process is automatic and there are low associated costs.
- The decision to title agricultural land is a lot easier than the decision to title coastal land. Agricultural land only requires the desire and a little bit of time and money.
- It’s a better idea to hold on to ROP in coastal areas and wait for the titling process to improve or to wait until the property gets titled by PRONAT.
Rights of possession are a foreign concept that leave many international investors ill at ease. For many, it is just not worth the effort to learn and do what is required to acquire and maintain a healthy ROP claim. It’s quite possible to possess and sell ROP land just like titled land, but someone who is uncomfortable with ROP should make the effort to title the land for the added security and comfort.
Currently the titling situation depends on the location of the property. Continue Reading