What is the role of the Property Registry in the real estate transaction process?

The role of the Property Registry in the real estate transaction process is to maintain accurate and up-to-date records of property ownership and interests. This function is critical because it helps establish a clear chain of title and provides transparency in property transactions. By keeping detailed records of who owns what property and any claims or encumbrances against that property, the Property Registry helps to protect the rights of property owners and ensure that transactions can be conducted fairly and securely.

An accurate and well-maintained Property Registry is essential for facilitating real estate transactions, as it allows buyers, sellers, and other stakeholders to verify ownership and understand any obligations associated with the property, such as mortgages or liens. This transparency helps to prevent disputes and ensures that buyers can make informed decisions, knowing they are purchasing a property without hidden claims or issues.