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1040

Chile

Real Right of Conservation

Introduction

On May 31, 2016, the National Congress passed a bill of law establishing the Real Right of Conservation (Bulletin No. 5.823-07) and sent it to the President for enactment.

This law establishes a new real right in our legal system through which the environmental heritage of a property or certain attributes or functions of that property may be conserved.

Establishment of the right

As the approved text stands, a right can be granted a certain individual or body corporate at the property owner’s discretion.

It is a property right that is separate from ownership of the particular property. Among other characteristics, it is transferable, transmissible and not attachable, and is also continuing save stipulation otherwise.

Regulation

The way in which the right must be granted is regulated as well as the types of liens that may be assessed on that right. The agreement granting the right must at least stipulate:

1. The restriction or prohibition to use the property in certain ways.
2. The obligation to maintain the property.
3. The obligation to implement or supervise a management plan.

The law also says that a limit may be set on monetary obligations and periods may be agreed for fulfillment of any liens.

Other elements

Rules are also established on the priority between this right and other real rights. A distinction is made by the moment when those rights were established.

Finally, events of termination are indicated and the procedure applicable for dispute resolution.

Consequences

Once this law enters into effect, which should be soon, this may become an effective tool for private conservation or for establishing compensatory formulas within the Environmental Impact Assessment System.

Contact

Please contact Jorge Tisné jtisne@jdf.cl should you require further information on this subject.