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THIS REPEAL IS RETROACTIVE, TO THE JOY OF THE BUYER AND SELLER10th September 2021
REAL ESTATE, GROUP, NEXUS, INFORMA
This repeal is retroactive for the joy of the buyer and seller.
Now many involved in the sale of a home affected by article 28 of the Mortgage Law wonder if it is retroactive or not. Law 82021 does not establish a transitory right that regulates the situations of operations prior to September 3. "As nothing is indicated, this article 28 will cease to apply to all pending properties of the two years, since there are five months or a year and a half until the end of that two-year period, which will no longer be subject to this limitation As there is no transitory right, article 28 does not apply and all the operations that were pending to be registered and that the new buyer had full ownership of the property will be free,
Therefore, as of September 3, no property will be subject to this limitation of article 28 of the Mortgage Law.
For properties that have been affected by article 28 as of September 3, the Property Registry automatically eliminates this clause, so that neither the buyer nor the seller should do anything.