Milena Velba New Harley

Housing Policy in Venezuela

Sets the Constitution of the Bolivarian Republic of Venezuela, Article 82, the right of everyone to adequate housing. Listed below the standard:

" Everyone has the right to adequate housing, safe, comfortable, hygienic, with basic services, including a habitat essential to humanize family relationships, neighborhood and community. The progressive meeting of this requirement is shared between citizens and the State in all areas.

State give priority to families and secure the means for them, especially the poor, can access social policies and credit for the construction, acquisition or expansion of housing . "(Emphasis added.)

In this regard, and to comply to the above, was established on Housing Services and Housing, under Decree No. 6072, which replaces the previous system of housing policy.

This Law establishes the National Housing Bank and Habitat, competition explicitly to finance, own resources or using existing resources in Funds referred to this Act, plans, programs, projects, works and actions required for the production of housing and habitat.

The

resources for social housing development will have its origin in the following contributions:

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  Funds Public Sector Contributions.
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  Mandatory Savings Fund for Housing (FAOV).
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  Voluntary Savings Fund for Housing (FAVV).
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  Guarantee Fund.
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  Contingency Fund.

Important Aspects of the Law on Housing Services and Habitat:

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  this Act establishes that the major home mortgage loans may be granted up to one hundred percent (100%) of the property value.
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  The FAOV will consist of compulsory savings from contributions made by employees under the relation of dependence and their employers.
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  worker's contribution is recorded in an individual account.
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  The monthly contribution is equivalent to three percent (3%) of full wages. The worker's contribution will consist of one percent (1%) of their full wages and employer's contribution shall be two percent (2%).
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  faov The contribution to be deposited in the account of each employee within the first five days of each month.
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  will be available for inputs to faov only in the following cases: 1) For full or partial payment of acquisition, construction, expansion, replacement, restoration and improvement for the repair or home remodeling main refinancing or mortgage payment, 2) Having been a beneficiary retirement, pension, disability or handicap, and 3) Upon the death of the worker.
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  faov The assets of the assignment may be total or partial.
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  may access the benefits of the National Housing and Habitat users who have made contributions for a minimum period of twelve (12) consecutive months or not.
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  Users who have received the benefits of the system will be required to continue contributing to faov.
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  Direct Housing Grant, to support users of the system, provided they comply with the requirements of the rules established for that purpose. This grant will be awarded only once.
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  The benefits of direct housing subsidy may dispose of the property for which he may have received. But if the sale occurs within five (5) years from the date of the subsidy, it must be restored to their present value at the time of sale.
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  Figure
  credit Sets Joint for the purchase of land and construction of the main dwelling.
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  The mortgaged property may not be sold without the consent of the mortgagee.
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  Exemption from registration fees and any other taxes, fees, duties, taxes or contributions.
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  The awards protocol and documents should be registered within a period not exceeding five (5) working days from the date of its submission to the appropriate Register.