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 […]
You 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. How do you do this? Often, we receive requests for assistance from property owners who want to check the title of their property on their own. They don’t know […]
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 […]
Did you know that tax overdue corporations will be dissolved by the National Registry? If you own a Costa Rican corporation and have not paid your corporation tax up to date, you might be in trouble. That is if your corporation owns property or a vehicle. New laws are not always a good thing. In my […]
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 […]
Do you own a vacation rental? Have you thought about giving a 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 you need to take […]
Why use escrow in Costa Rica real estate and how does it work? Some foreign buyers of Costa Rica real estate just assume that escrow works the same as it does back home. Wrong! Let’s start at the beginning. Buyers, as well as sellers of Costa Rica real estate, do not use escrow. They just […]
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by Ivo Henfling
