New agreement facilitates property ownership for Dominicans abroad
In a significant move aimed at empowering Dominicans living abroad, the Dominican Republic’s Consul General in New York, Eligio Jáquez, together with Duarte Méndez Peña, the Executive Director of the Technical Execution Unit for Land Titling (UTECT), have recently finalized an inter-institutional agreement.
According to an article by Dominican Today last month, this newly signed agreement will facilitate the process for Dominicans overseas to secure definitive ownership titles for their properties back home.
Commitment to diaspora needs
The leadership of UTECT is actively working under the directives of the Dominican Republic’s President, showcasing a deep commitment to the Dominican diaspora.
This initiative is a direct response to the longstanding issue of property ownership among Dominicans living abroad, aiming to legalize their status and secure their investments in property.
Historical challenges in property titling
Consul General Jáquez addressed historical challenges in the property titling process, where loans were often secured with agricultural yields as collateral.
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This practice generally limited loan amounts to a few thousand pesos, due to minimal qualification requirements.
The new agreement promises to enhance accessibility to property titles for the Dominican diaspora, potentially increasing their investment security and promoting economic stability among community members abroad.
Operational enhancements and community engagement
Further operational developments are expected as UTECT plans to staff the office within the consular unit in New York.
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The agreement signing was marked by the presence of notable figures including Duarte Méndez, Jezabel Peralta, the Director of Community Affairs, and Mary Dely Bonilla, who oversees the Human Resources Department.
