Transfer of Property Act at Paraguay
It looks like you're asking about the Transfer of Property Act in Paraguay.
Here's the direct clarification:
Paraguay does not use the Transfer of Property Act, because that Act is specific to India.
In Paraguay, property transfers (whether real estate, movable assets, etc.) are governed by their Civil Code (Código Civil Paraguayo), not a law named "Transfer of Property Act."
In Paraguay:
Property transfer must be made by public deed (escritura pública) executed before a notary public.
For real estate, after signing the deed, the transfer must be registered in the Public Property Registry (Registro Público de la Propiedad) to be fully effective.
Their laws also require certain formalities like payment of taxes (e.g., real estate transfer tax) during the process.
Key Points for Paraguay Property Transfer:
| Aspect | Details |
|---|---|
| Governing Law | Paraguayan Civil Code |
| Requirement | Public deed before a notary |
| Registration | Mandatory in Public Registry |
| Taxes | Transfer taxes must be paid |
| Special Notes | Both parties (buyer/seller) usually need to appear personally or grant powers of attorney |
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