Unlike many Caribbean countries, the title system in the DR is similar to what people are used to in Europe and North America. Titles are registered to the purchaser(s) of any property, on both the land and building, or in the case of a condo, on the individual unit. There are no "bank trusts" or "leases" on properties, you are the registered owner.
TITLE INSURANCE GUARANTEE
Defined broadly as a contract of indemnity that, for a single premium, protects the insured, up to a sum, against defects, liens or encumbrances on a real estate title. These include risks like fraud, forgery or identity fraud, alteration or loss of title documentation, local planning issues and clerical and typographical errors affecting title.
For more information on title insurance, click here.