Presidential Decree No. 485 of 1997 regarding the guarantees to the real estate owners for the purchase of the plots of land on which their property is situated.

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russe

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LEX-FAOC022303

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The President, for the purpose of promoting effectual land tenure, decrees that the priorities of purchase of the plots of land (or the shares of them), on which are situated previously privatized edifices, have physical and juridical persons that own these edifices. The Decree establishes that the property put on sale regards plots of land (or the shares of them) that had been previously conceded to a tenant or a leaseholder on condition of permanent (limitless) tenure, lifelong ownership with the right of inheritance or of limited tenure, including rent. The Government is compelled to conform its Legislative Acts to this Decree.

Amended by: Presidential Decree No.1474 of 1999 regarding conformation of the Presidential Decrees to the Urban Code. (1999-11-03)

Legislation