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This Presidential Decree regulates the transfer of land owned by legal persons, including enterprises with foreign investments. It does not apply to non-residents. Transfers of land shall be carried out for payment by decision of the President. Proceeds from sale of land shall be used for soil conservation, improvement of soil fertility and land surveys. Legal persons shall apply to purchase the land by submitting the following documents: (a) copy of the decision for the concession of the plot of land in temporary of permanent tenancy (lease); (b) copy of the statute of the legal person; (c) ownership certificate for the object located on the plot of land subject to purchase; (d) financial documentation of the legal person; (e) location plan for any edifices and constructions on the land; and (f) other documentation required to transfer title to the land. The price for the plot of land shall be calculated according to land quality and location and cannot be lower than the normative price of land established by national legislation.
Repealed by: Presidential Decree No. 667 regarding expropriation and allotment of land plots. (2007-12-27)
