RAIZ - WHAT IS IT?

The property belongs to a specific person who does not have possession or use of it.

Therefore, it implies ownership of the real estate, although it does not include the right of usufruct, which belongs to the usufructuary until their death or when the term set for the usufruct ends.

Is it possible to sell a Raiz?

Yes, it is possible. The owner has the power to transfer the raiz through a sale or donation, and the power to use it as collateral, for example, in a bank loan.

What are the rights of the owner of the Raiz of a property?

The owner of the Raiz has rights over the property and can sell it; however, the buyer will only acquire the raiz of the property. In other words, the sale does not annul the existence of the right of usufruct, which only ceases with the death of the usufructuary or the end of the term established for the duration of the usufruct.

What are the duties of the owner of the Raiz of a property?

To carry out necessary major repairs and improvements to the property. For example: ruptures in internal and external water and sewage pipes, construction defects, and similar issues.