Real Estate , with an emphasis on beach properties and properties with legal issues to resolve. Buying Property, Title Searches, Beach Concessions, Rights of Possession, Purchase Contracts with rights of option to buy , Title Transfer and Problem Solving.
We suggest before buying, offering or seriously considering land or businesses purchases, have your attorney perform a title search, tax investigation and corporate review. This process will make your Costa Rican investment safe and secure.
Title Searches; Determine first if you are being offered occupation rights (derechos de ocupación) or ownership rights (derecho de propiedad).
Ownership rights: Titled property is registered in the Public Registry and equal to the process of owning land in the United States or Canada.
In the case of occupation, there is a different search method required to determine ownership , it is land that has not been registered, cannot be title-searched in the public registry and must go through a lengthy process in order to be registered. This can be done and many people hold property this way and in the end it is registered in the public registry and also in the office of the ICT or other corresponding government offices.
Beach concessions: Another situation one may encounter regarding land, especially in beach areas, is the concession. In this case, the government gives a private party Costa Rican citizen or Corporation (S.A.) the right to use the land for a specific period of time. In general terms, the concession may be considered as a lease. The concession registration system is different than the one for regular land, and has particular requirements regarding zoning, terms, occupation and use.
Remember before you put your money down on a purchase, have it reviewed by your attorney!