Attorney in Costa Rica

Real Estate Attorney in Costa Rica

I provide all legal services as a real estate attorney and notary public.  I can help you with due diligence and all the steps to buying real estate in Costa Rica.  Even advise you with mortgages and fiduciary agreements.   Property disputes and litigation are my specialties.  As a real estate attorney in Costa Rica, I ensure that your property transactions are done correctly. My real estate law firm will help you with everything. This article covers the basics of successfully buying real estate in Costa Rica to avoid future problems and even litigation.

Real Estate Attorney in Costa Rica and due diligence
These are the basics to buy real estate property in Costa Rica

If you plan to buy real estate in Costa Rica, it’s wise to hire a real estate law firm.  A real estate attorney in Costa Rica is necessary for the following reasons:

Consult with the expert

Due diligence in Costa Rica

Due Diligence before buying the property:

Due diligence by your real estate law firm is crucial to avoid problems. All private real estate properties are registered in the Public Registry of Costa Rica. You can log into the Registry through its website. The Registry provides reliable information on who is the owner of any real estate property and the status of the property itself. It shows important information about the real estate property you wish to buy.

Due diligence in Costa Rica

The Registry certifies who is the current owner of the property in Costa Rica:

The Registry certifies who the current owner is. Establishing the owner is essential since only the certified owner can sell the property. This sounds logical but essential. Due diligence requires ascertaining who the past owners were as well. As a real estate lawyer, I even try to contact them to ensure there was no fraud in the prior transactions. This is important, especially if the property appears to have been recently sold to the new owner and seller. If this is appropriately checked, you will avoid possible property litigations.

A real estate law firm is necessary to purchase a property in Costa Rica
A real estate law firm to perform due diligence in Costa Rica

A physical person or a corporation in Costa Rica?

The Registry will certify if the property in Costa Rica is in the name of a physical person or a corporation. If it’s a physical person, it tells us the name and last name of the owner and other information. The Registry will provide the identification number and the date the property was bought. It also refers to the public scripture or deed used to acquire the property by the current owner. As a real estate attorney in Costa Rica, I even obtain past deeds to study them.

If the property in Costa Rica is in the corporation’s name, due diligence must establish who represents the corporation. Shareholders of the corporation must give their consent to sell the property.

A real estate law firm to perform due diligence in Costa Rica
Other aspects you real estate attorney in Costa Rica must study

The Registry will also certify the area of the property in Costa Rica and its boundaries. It establishes if it is free from encumbrances, such as mortgages or liens. Every real estate property in Costa Rica has a cadastral reference and plan of the property itself.  All of this information is important when performing due diligence on the property.  The cadastral plan of the property in Costa Rica is vital to ensure that you are buying the property that is being shown to you. It must coincide with the cadastral plan.  A topographer is necessary to corroborate in the site.


Taxes, Hoa Due Diligence and other considerations:

As a real estate lawyer, I must also ascertain if the property in Costa Rica is up today with taxes.  This information must be researched in the Municipality where the property is situated.  Every property in Costa Rica is taxed with an annual property tax.  The tax is 0.25 percent of the property’s registered value as established in the Municipality.  As part of due diligence, I must look into this.  You don’t want to end up paying taxes that were due by the past owner.  If you are considering a real estate property as your home, there are certain family law considerations that you should be aware of, if you wish to place the asset in a corporation.  You may also want to read about powers of attorney, and their role in the corporate structure. Please click HERE to continue reading about real estate in Costa Rica.

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