Gloria Figueroa Alcorta, Real Estate Business started to work as a firm after an intense professional performance carried out in the local market by Gloria Figueroa Alcorta.

At the beginning, her work started together with her family, the Vinelli family; pioneer in the Real Estate Business and Commercialization in our country. Further on and for more than 20 (twenty) years, she has work as a Manager for several top level companies.

has a highly qualified staff to give legal advice to their clients; each member of the staff has an enterpriser vision and wide nowledge of the Real Estate market issues, thus sharing their team work as a way of obtaining the best results for their customers.

Figueroa Alcorta, Real Estate Businesshas a highly qualified staff to give legal advice to their clients; each member of the staff has an enterpriser vision and wide knowledge of the Real Estate market issues, thus sharing their team work as a way of obtaining the best results for their customers.

Prior to the signature of a Contract of sale you must keep in mind some requirements such as:
 · In the Real Estate and Property Register ask for information about inhibitions and properties, to determine if the seller can have his good or property at his entire disposal and be acquainted with the registry terms on it (legal title of property, taxes, etc.)
 · The seller must exhibit the legal Title of Property and the Rules and Regulations of Joint Ownership and Administration.
 · In case a reservation contract is signed, it is convenient that this reservation contract gather the essential elements of a Contract of Sale in an inequivocal way:
  1 - the consent which refers to the precise determination of the object of the operation,
  2 - the good,
  3 - the price,
  4 - the terms,
  5 - the date to bind by deed, etc,
  6 - the clause that the contract will be signed only on a perfect title basis.
 · A title is perfect when an actuary by a “Study of the Titles” has determined so. by a “Study of the Titles” is a compilation and analysis of the antecedents which conform it.
 · When you sign a Contract of Sale you have to take into account that the payments must be deposited in a Bank on the seller’s name, as established by law # 25.345, by which no cash payments over a thousand pesos should be made; because of this law, a Contract of Sale must be executed under the supervision of a Bank. The Transferring Property Indenture is excluded from this requirement.
 · In the Autonomous City of Buenos Aires, there is no obligation of stamping the Contract of Sale. According to the Civil Code article #1277 it is important to emphasize that the consent of both spouses is necessary to dispose or to encumber any property acquired during married life.
 · To take possession of: the Civil Code establishes that the possession of property takes place when somebody personally or through someone else has power on something, with the intention of submitting it by the practice of property rights, which means to have the ownership, which is different from someone who recognizes the property in another who is a simple holder of that thing.

The tax on stamps is applicatory to transferring public indentures on the domain of real estate, situated in the Autonomous City of Buenos Aires, which is destined for dwelling and which is the unique property belonging to each one of the acquirers.
This last information must also be registered as a declaratory oath of the person concerned; law number 2179 - Official Bulletin 30/11/06 - in force fiscal year 2007.

The aliquot part is : 2.5% (two.five percent) of the transaction price or the fiscal valuation, depending on which is higher.  Half of the 2.5% tax is paid by the buyer and half is paid by theseller. They are exempt or free to pay this tax up to the amount of $ 360.000 (three hundred and sixty thousand pesos).  On the contrary, the tax will be paid on the exceeding or surplus of the tax payment on real estate destined for a dwelling place, which is the unique property of the acquirer in the Autonomous City of Buenos Aires.  He will not be exempt or free of paying if he is the owner of another property or real estate.

The public untilled lands destined for the construction or building of dwelling places are also exempt of the payment of this tax, as long as the fiscal valuation does not exceed the amount of $10.000 (ten thousand pesos).
We must add to this taxation aspect, other expenses such as actuary fees, certificates and study  of titles.

* For example:
If the sale´s transaction on real estate destined for a unique dwelling place is of $500.000 (five hundred thousand pesos), the 2.5% tax will be paid on $140.000 (one hundred and  forty thousand pesos).

All the onerous contracts by public or private instruments are subject to the Stamp Tax. The aliquot part is: 4%, half of which is paid by the buyer and half by the seller.

The urban lease contracts, as well as its modifications or extensions on time should be legalized in writing. When the non - written contract has started to be executed, the minimal term determined by law is to be taken into account and the price and its up-to-date price will be determined by the judge according to the cost and present practice on the market.

The minimum term of a lease agreement for a property destined to dwell in, furnished or unfurnished, will be of two years. For other properties this term will be of three years.

Shorter term contracts will be considered as formulated by minimum terms of agreement established beforehand.

Agreements referred to the present law are exempt of the legal minimum term of lease:.
1) Agreements or contracts for an embassy or consulate see and for international organizations, likewise, dwelling places for diplomatic personnel or staff for consulates or international organizations.
2) Dwelling properties let for tourism purposes, on areas available for this matter. When the contract is longer than six months, it will be assumed that this is not for tourism purposes.
3) Leasing of places or areas destined to keep animals, vehicles or other objects and garages.
4) Places that form part of another property destined to live in or not, and that were let separately to keep animals, vehicles or other objects.
5) The lease of stands in a market or fair.
6) The lease of places where national or provincial states, municipal entities or entities with autarchy are involved as lessees.

Prohibition for the extension of the bail on lease contracts.
By article # 1582 bis included by law # 25.628 on the Civil Code it is established: “The duty of the guarantor automatically ceases at the expiration date of the lease contract, unless this proceeds as a restitution on due time of the property let. The guarantor´s consent is required to oblige the parts to reiterate or for the extension that is written or implied on the lease contract, once this has concluded or expired.

All arrangements done beforehand to extend the bail will be null or of no account, whether they are simple, or as joint debtor or as main payer of the original lease contract.

Intimidating the lessee for payment.
Previous to the demand to move out for non-payment of the rent, the owner must authentically intimidate the lessee to pay the right amount; never giving him less than ten days, counting from the day when the intimidating form was received, also establishing the place for payment.

Lease properties for dwelling places

Terms of payment
The price of leasing should be settled on monthly payments.
The owner should not ask for payments made in advance:
a) For periods exceeding one month.
b) Warranty deposits or assimilable demands for more than the amount paid for one month rent corresponding for each year of the leasing contract.
c) Payment of key value or equivalent amount.
Violation of these conditions allows the lessee to ask for the refund of the payments made in advance, duly updated. In case judicial intervention is needed, its cost will be paid by the owner.

Advanced Resolution
Once the first six months have gone by, the lessee can undo the contract, authentically notifying his decision to the owner, at least sixty days in advance from the day he will leave the let property. If the lessee decides for this resolution within the first year of the leasing contract he will have to pay the owner, as an indemnification, the amount corresponding to one and a half month of the rent; at the moment he moves out and only one month if the resolution takes place after one year of rent.

Immediate dislodging on evictions for non-payment or expiration of the contract of rent.
In October 2001, article # 684 bis is added to the National Civil and Commercial Code pertaining to a process or lawsuit by law # 25.488 by which immediate vacancy or moving out on dislodging for non-payment or expiration of the contract determines that:
Assuming that the reasons for dislodging were the above mentioned, the owner is also due to have his property vacant immediately, under real guarantee, according to the procedure granted by article # 680 bis.
In case, it is proved that the owner has obtained this resolution hidding some facts or documents regarding the leasing contract or payment of the rent, besides the immediate attachment of the warranty, he will have to pay a fine no higher than $ 20.000 pesos in favour of the counterpart.

This tax is applicatory to Real Estate property within the country, that is transferred to onerous title, (title which has been paid for).

The individual person and undivided estate that the income tax does not affect the above mentioned transfer, are not subject to pay this tax.

In case of change or exchange of properties, all parts participating in the transaction are subject to this tax and each one of them is considered to be a contributor on the amount of the goods to be transferred.
Any sale, exchange, change, dedition (giving in payment), contributions to societies and all disposal act will be considered as a transfer.

The tax or encumbrance will be applied on the transfer value of each transaction.

The tax rate will be fifteen per thousand, (15/00).

In case of selling the unique dwelling place and the land of the contributor with the intention of acquiring or building another one destined to be his home place, the contributor can choose not to pay the tax resulting from this transfer.

In this case, the contributors acting as replacement of property, must communicate this to the Public Income Federal Administration Bureau; entering, with the fiscal key-code, to the "Transference of Real Estate" server, available at the institutional web-site: (http://www.afip.gov.ar ). Once the transaction has been completed, the system will issue an acknowledgement of receipt, to keep a record of it.

When the solicitor has carried out the communication, he will receive from the above metioned site, a " non-retention certificate " , which must be shown to the actuary supervising the sale´s agreement.

In case that the above mentioned certificate is not presented to the supervising actuary, he will retain or withhold the tax without considering any amount as an option.

The contributors should inform that the obligation  of acquiring the replacement property has opportunely been fulfilled, by means of a communication to the Public Income Federal Administration Bureau.

Requirements needed to buy Real Estate in Argentina
· An account abroad.
· In force document that proves your identity.
· You must demand at the Public Income Administration Bureau (AFIP),nearer to your home, your Identification Code of Residence (CDI); and that insitution will then ask you to name a fiscal representative that lives in Argentin.
· In case that the acquisition of the Real Estate is brought into conformity by means of a foreign account; you must take into consideration that our country is ruled by a system of registration of incoming and outgoing currency by the Central Bank of the Argentine Republic.
The rule in force establishes the constitution of a personal or registered deposit, that is not transferable and is not to be remunerated, and this will be the thirty percent (30%) of the total sum of the entry money.
But in case that the money received from abroad is meant to buy Real Estate, this thirty percent deposit is not to be constituted; as long as the settlement date of the money exchange is subscribed simultaneously to the Property Transference Indenture manifested with the resulting funds of the exchange transaction.