Susana Lastarria-Cornhiel, Grenville Barnes (1995):
Assessment of the Praedial Property Registration System in Peru

B. Reduction of Registration Costs

It appears that in the majority of cases, registration procedures, including registration of title documents and mortgages, are significantly less expensive in the Registro Predial than in the Registro de Propiedad Inmueble. It is difficult to compare the costs for the two systems because the procedures and basis for fees differ. For example, in the Registro Predial, there is a set fee for each type of transaction, while in the Registro de Propiedad Inmueble, the fee is often a percentage of the selling price when registering a property sale or of the mortgage amount when registering a mortgage.

One factor that increases registration costs in the Registro de Propiedad Inmueble is the required intervention by a notary public. The fees charged by notaries are considerably higher than the fees charged by the lawyers who intervene in transactions in the Registro Predial.

A caveat here is called for, however, because it should be noted that while the Registro de Propiedad Inmueble is fully self-supporting and receives no funds from the government, the Registro Predial does receive part of its budget from the Public Treasury. This allows the Registro Predial to subsidize the fees it charges its clients. In addition, most of the properties in the Registro Predial are first registrations of state properties which are free.