PROFESSIONALS IN THE NEWS:
Manolo Suárez Tapia
MEDIA OUTLET:
Revista CLAVE Bienes raíces
Revista CLAVE Bienes raíces interviewed our partner, Manolo Suárez Tapia, about how real estate purchase and sale processes can be challenging for those without experience in the procedural requirements involved. Some situations are simpler than others, but when it comes to investing significant amounts of money, extra caution is always advisable.
Regarding the procedure for subdivision, Manolo Suárez stated, “Land subdivision requires two stages for approval. However, it is very important that, before initiating the subdivision process, property owners are aware of the zoning of the property. Through zoning, crucial elements such as the minimum lot size, land occupation coefficient, and potential constraints like creek edges or setbacks can be identified. To ensure certainty about the minimum area into which a lot can be subdivided, the legal requirement to allocate at least 15% of the land to green areas for the city must be considered, except in cases of rural land divided for hereditary participation, donation, or sale, as long as the land is not intended for urbanisation, subdivision, or any other commercial purpose.”
In this article, Manolo explains all the legal implications of land subdivision, detailing the stages of the process and recommending the most suitable legal methods for achieving successful outcomes in such procedures.
To conclude his interview, drawing on his professional experience, Manolo emphasised that the most important aspect for a buyer is to be informed about the legal structure used by the real estate developer so that the product they are seeking aligns with their needs and their investment is protected. As a key takeaway, he added, “The most important thing in acquiring a property—whether through subdivision, horizontal property, individual housing units, or single properties—is to determine if there are any liens or encumbrances on the property that could restrict ownership. The first thing a prospective buyer should request is a valid lien certificate, which is now digitised and easy to obtain. This certificate provides all the details of the property, including the owner’s name, ownership history, encumbrances, restrictions, etc. From there, it is advisable to consult with a lawyer experienced in real estate who can review all the documentation involved in the purchase process. Proper legal advice will always be cheaper than undergoing a subsequent legal process to claim a right.”
https://www.clave.com.ec/manolo-suarez-tapia-subdivision-fraccionamiento-y-urbanizaciones/
