Watch the new legal requirements on Anonymous corporations in Costa Rica. In the past, property in Costa Rica was almost customarily purchased into anonymous corporations by foreign buyers. One of the most important reasons was to protect the property for the personal liability of the owner. Another good reason was that several owners could possess a…
Your first due diligence when buying land or a property in Costa Rica is to request the zoning or certificación de Uso de Suelo for that particular property. The certificación de Uso de Suelo is extended by the engineering department at the Municipality where the property is located. Each city has its own zoning plan…
Are you amongst the more than 250,000 corporate owners whose corporation was dissolved by the Public Registry for non-payment of the Corporate Tax? If your corporation was dissolved by the Public Registry, what happened to your property? During the real estate boom of 2007-2008, real estate developers set up corporations so that their clients, could…
The very first time I had any idea what title insurance was all about was in 2002. In Costa Rica, title insurance was not customary. Only INS, the local insurance company, could sell insurance, by monopoly regulations. Not until 2008, President Oscar Arias signed a new law that opened up the insurance market in Costa…
River setbacks are restricted areas of property surrounding the rivers and creeks in Costa Rica. The law strictly prohibits to build any roads or structures on river setbacks. Prohibited also are excavation, alteration, improvement, grading, landfill, paving, and storage. INVU controls the river setbacks, so they can protect the riverbeds against destruction. Looking to purchase…
Has anyone ever told you to not throw away your old passport? Probably not. Well, you can throw them all away, except the one(s) that you used to purchase a property in Costa Rica. Crazy eh! It sounds like a pretty stupid request, doesn’t it! Who wants to keep an old passport that is no…
A reader who did not receive title documents at closing is now unsure about the title of her property. She commented on an article in the Tico Times: I purchased land in Costa Rica about 4 years ago I only have “la carta catastrada” and a letter from the notary public. I have to pay…
There can be many reasons that you would want to do a title search by property number of your Costa Rica real estate. You want to make sure you own a clear title. Or you want to look for a property that you inherited. Or you are looking for that condo you think your husband…
Why do money laundering and buying property in Costa Rica often go hand in hand? Should you be afraid to be seen as a money launderer when buying property in Costa Rica? The answers are simple: In Costa Rica, real estate is still a means of money laundering. Yes, you should be afraid, but only…
Do you have corporation owned real estate in Costa Rica? Now you need the approval of your board of directors to sell or get a mortgage on it. On August 24th, 2016 a new law was issued and duly published at La Gaceta on October 4th, 2016. This new law # 9392 is called Protection for the…
Estimated Reading Time: 6 Minutes Do you own a vacation rental? Have you thought about giving power of attorney to your property manager? When you invest in a vacation rental or any other rental property in Costa Rica, and you hire a local property manager to care of your investment, there are a few things…
Does the property you purchase have a water easement? When you purchase a property in Costa Rica, for sure you want to check if the property has water or access to water and if the water is legally connected. You know why? In many countries, the water connection on a property is a very simple…
Estimated Reading Time: 6 Minutes A reader asks how what the options are to have property ownership for couples. Thanks to our readership for suggesting a great topic that is so important when you are buying property in Costa Rica as a couple. How can you divide the ownership between couples and what is prudent…
A few days ago I received an email asking for legal consultation with a well-known Costa Rica real estate lawyer who has written some guest blogs for us. Because we have over 350 blogs about Costa Rica real estate and many other topics on our website, I get a lot of emails with requests. Some…
The size of Costa Rica real estate for sale can be a real problem. By law, the size of the property in the National Registry and the size shown on the survey map has to be exactly the same. If you hire the wrong person to sell your property or to represent you as a…
Can someone purchase (or sell) in my name in Costa Rica? I am not able to be there in time for the closing. This is a pretty common question we receive from clients. You are ready for your retirement in Costa Rica. Probably you have found the Costa Rica real estate you would like to…