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introduction
property types
fee simple
concession
condominium law
untitled property
time share
buying process
protection
financing
construction
corporation
residency
conversion chart
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properties in condominium
When we think of Condominiums, we normally think of large apartments or townhouses. In Costa Rica, however, there is a specific law called "Condominium Law" that provides certain benefits to developers of many different types of properties, including single family residence projects, finished lot projects, condos, etc. This set of laws allows a developer to restrict and regulate certain aspects of the development.
Ownership of property "in condominium" is fee simple ownership, but usually carries with it a few
additional restrictions set forth by the developer.
It is advised that you require the owner of the property to give you a copy of the by-laws to check for architectural guidelines, land use restrictions, and other limitations that may be placed on your property. Most often, developers use the condominium laws to allow them to build private roads in a development and set architectural guidelines. For the most part, condominium laws are designed to protect the integrity of a development and maintain the "look and feel" of the project. |
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