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introduction
property types
buying process
option agreement
title search
closing & costs
registration
protection
financing
construction
corporation
residency
conversion chart
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title search
By law all properties must be registered in Registro Publico. The attorney has to conduct a title search at the Registro Publico (Public Registry) about the property you want to buy. Most properties have a title registration number called the "Folio Real". Once you have this number you can search the database. The Registro Publico's Report, called the "Informe Registral," contains information such as the name of the title holder, boundary lines, tax appraisal, liens, mortgages, recorded easements, and other records that could affect the title. Costa Rica follows "first in time, first in right" rule. Additions to a property title are prioritized according to the date they were recorded.
Unlike in the United States or Europe, Costa Rican Law states that once the title is clear and a property is
transferred to a new owner or corporation in Costa Rica, all past claim that were not properly registered in
the National Registry, can not be placed on the new owner/corporation!
It's very important that the attorney searches the title back to the beginning, so there is no uncertainty about the ownership of the property. |
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