When purchasing real estate in Costa Rica, completing a property survey is a fundamental part of the due diligence process. A survey provides critical information about the property’s boundaries, dimensions, and legal status, ensuring that you know exactly what you are buying. Failing to obtain a survey can lead to […]
The Right Way to Make a Purchase Agreement A well-structured purchase agreement is crucial when buying property in Costa Rica. It serves as a legal road map from the initial offer to the final deed transfer. To ensure a smooth transaction, it’s essential to include specific elements that protect both […]
This is part two of the series of real estate purchase process in Costa Rica. This time, we will review the title options for owning real estate in Costa Rica. Under Costa Rican law, the following options are available to purchase and to own property titles in Costa Rica. […]
The “Solidarity Tax” (also known as “Tax on luxury houses”) was formally established in Costa Rica, through law no. 8683 on November 19th, 2008. Such tax falls back onto the value of the properties that are destined for housing purposes, whether the properties are regularly used, occasionally or just for […]
“Before anything else preparation is the key to success,” said Alexander Graham Bell
An escrow account is essentially a pass-through third-party account, created for the purpose of a Real Estate purchase. It is meant to protect both the buyer and seller all parties in the transaction. Outlier Legal highly recommends using this service for your real estate purchase – here’s why: Example: […]
As we have previously mentioned, whenever you are looking to buy real estate, it is important to undergo a process that allows the buyer to review the property, providing them with the opportunity to identify potential issues or problems that could impact the purchase. This process is known as Due […]
After several months of heated discussions, a new set of regulations pertaining to land division in Costa Rica were introduced on September 14th. In order to understand the background of this situation, I will offer a brief recap of how land division has been regulated in Costa Rica over the years. […]
I would like to start by offering some background on INVU: The Instituto Nacional de Vivienda y Urbanismo (National Institute of Housing and Urban Planning) is a public entity responsible for executing policies and plans regarding urban development and land use. In addition, they design, coordinate and promote housing programs […]
Today, we are going to address another topic that is essential to this field: easements. When we discussed some of the aspects concerning the right of ownership, we posited that such a right is, under the branch of civil law known as “real rights” (meaning the rights that fall on […]
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