A condominium building or development where individual units are privately owned and common areas are shared. Governed by a condominium association with monthly fees.
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Cap Rate (Capitalization Rate)
Net Operating Income divided by purchase price, expressed as a percentage. A 7% cap rate on a $300,000 property means $21,000/year NOI. Standard benchmark for comparing investment properties.
Cash-on-Cash Return
Annual pre-tax cash flow divided by total cash invested. Accounts for financing costs, unlike cap rate. More relevant metric for leveraged buyers.
Certificado de Título
The official title certificate issued by the Title Registry (Registro de Títulos). The gold standard of DR property ownership — if a property doesn't have one, treat it as a red flag until it does.
CONFOTUR (Consejo de Fomento Turístico)
DR government program that grants significant tax exemptions to qualifying tourism real estate projects. Benefits include exemption from property transfer tax, annual property tax (IPI), and import duties on furnishings for up to 15 years. Not all properties qualify — always verify certification status.
Compromiso de Venta
A preliminary purchase agreement (similar to a US purchase contract) signed before the final deed. Typically includes deposit terms, price, and timeline. Legally binding.
Certificación del Estado Jurídico
The official legal-status certificate issued by the Registro de Títulos showing a property's registered owner, liens, mortgages, and annotations. It is the single most important due-diligence document — your attorney should pull a current one before any balance is paid.