Developing property in Colombia can be challenging. Foreign clients have to contend with unfamiliar legal requirements, less than reputable construction companies and the often arbitrary and inconsistent decisions of local regulatory/municipal agencies.
For over 10 years Langon has provided legal assistance to foreign clients interested in developing commercial as well as residential properties in the local Colombian market. Our Real Estate Practice Group provides comprehensive assistance in the following areas of law:
Analyzing ideal corporate structures for the relevant investment vehicle(s) and in connection with the development of the subject lot.
Analyzing tax implications for both the investment vehicle(s) and the property development project.
Reviewing all relevant documentation and information as part of a standard due diligence process including, but not limited to, the property certificate (the “Certificado de Tradición y Libertad”), the property deed (the “Escritura Pública”), tax bills (including the “Impuesto Predial” and the “Impuesto de Valorización”) and other legal documentation.
Drafting and finalizing a formal written legal opinion that outlines the findings of the due diligence process and identifies any title defects, mortgages, past due tax obligations, easements and other issues.
Comprehensive assistance in connection with the purchase of the property including, but not limited to, negotiating terms of sale, drafting relevant Promise to Purchase and Sale Agreement (the so-called “Promesa de Compraventa”) and related documentation, resolving any title defects, coordinating with third-party surveyors/inspectors/appraisers and executing public deed transferring title.
Negotiating and drafting pre-construction agreements, construction contracts (“Contratos de Construcción”), and related amendments.
Negotiating and drafting Service Agreements, Employment Agreements (“Contratos Laborales”), Independent Contractor Agreements (“Contratos de Prestación de Servicios”) and related legal documentation with construction companies, sub-contractors, professional service providers and site workers.
Submitting required permit and license applications with relevant regulatory and municipal agencies (“Curaduría”) and managing ongoing obligations.
Submitting required legal documentation to local regulatory and municipal agencies (“Curaduría”) in connection with the subdivision of units prior to sale/lease.
Drafting standard sales/lease documentation in anticipation of the sale or lease of individual units on developed property.
Completing all relevant legal processes to ensure transfer of title to unit purchaser.
Negotiating and drafting appropriate legal agreements with property administrator (“Administrador de la propiedad”) for developed property.
Drafting homeowner association bylaws and policies (“Reglamento de Propiedad Horizontal”); organizing applicable public deeds (“protocolización”), and managing official meetings and other obligations.
Managing all ongoing legal inquiries and disputes involving regulatory and municipal agencies, project vendors/professionals/partners as well as unit purchasers/lessors.