The Decree-Law no. 14/2022, of April 6, which approves the Real Estate Registry Code, has been approved.
The approval of this diploma has an extreme importance considering the relevance of the real estate legal commerce in the development of the Democratic Republic of Timor-Leste and the need of existence of a secure and competent real estate registry system to promote such development in a continuous a sustainable way. As such, the mentioned diploma will have a crucial role in the confirmation of property rights over real estate properties, by means of the issuance of the respective titles.
Exception made to particular cases, with the approval of this diploma, it is mandatory, subject to the application of sanction, to submit, in due time, before the real estate registry, the most relevant facts of the real estate legal commerce, including the facts relating to the recognition, constitution, acquisition or modification of the property rights, usufruct and habitation, surface or servitude over real estate properties, facts which entail the constitution, modification or termination of the degree of priority of mortgage registration and the consignment of earnings, seizure and any other restrictions to the property right.