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Your Costa Rican Property’s Title

By Jane Goodwin | August 29, 2007

Buying property in a foreign land can be tricky, so here are a few hints about making sure that your title to your new Costa Rican property is clear.

Costa Rica requires that all documents relating to a real estate title be registered in the property section of the Public Registry. (Article 460 of the Civil Code.) Most properties have a titled registration number known as the “folio real“, and the records database can be searched with this number or by name index.

The Public Registry report provides detailed information on the property, including the names of the title holder, boundary lines, tax appraisal, liens, mortgages, recorded easements, and anything else that might affect the title.

Costa Rica follows the doctrine of “first in time, first in right,” so recorded instruments presented to the Public Registry are given priority according to the date and time in which they are recorded. Of course, every situation differs, and occasionally a review of the Public Registry records will not be enough to uncover all encumbrances.

For this, and other, reasons, it is of vital importance that the buyer have his/her own personal attorney to supervise and inspect every document, every step of the way. Do NOT rely on the seller’s attorney!!!!! You just simply MUST have your own lawyer.

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Topics: Costa Rica, Travel / Relocation, Real Estate, Retirement Overseas |

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