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Last Updated: Jun 28, 2008 - 12:29:23 AM |
Once the
"escritura" (the
deed or completion of the transfer of title) of the property is done
then the bank that awarded the loan for a mortgage to the buyer will convert the
"provisional registrations of the property" into its final definitive
version. That is, the bank or lending institution converts the property registration from its
"provisória" version into its
"definitiva" version.
Only after that has completed successfully can the buyer claim rightful title to the property,
albeit with a mortgage, and proceed with any use or future sale of
it.
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