Popular in Course
verified elite notetaker
Popular in Business
This 2 page Document was uploaded by an elite notetaker on Saturday December 19, 2015. The Document belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 7 views.
Reviews for Types-Of-Property-In-Costa-Rica
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 12/19/15
Types Of Property In Costa Rica Real Estate in Costa Rica: Purchasing a Property You've been shopping around panama and nicaragua , for the perfect piece of real estate, and after looking at a number of appealing properties, you finally thought it was. What now? The first thing you should do is find out precisely what type of property you are looking at. The following are the five major property kinds in Costa Rica. Fee Simple Just like in north american and European countries, different property types have different laws and conditions attached to them. The most common type of property and also the look for in Costa Rica is Fee Simple, or even freehold ownership, that is the same as it is within the U.S., canada , England and most other common-law countries. In a nutshell , the buyer has complete rights to the property , and could do what he or she wants by using it , subject only to the laws of Costa Rica Concession Concession property is different , and refers to beachfront property. About 95 per cent of beachfront property beachfront property in Costa Rica is considered concession property. Possession of concession rentals are essentially a long-term lease granted through the state. Another huge difference between Free simple and Concession properties, is while foreigners have the same rights as Costa Rican citizens with Fee Simple purchases , they do are limited when it comes to purchasing concession property. Specifically, and also the cannot be majority those who own a concession property , but can enter into the partnership with a Costa Rican citizen, using the foreigner having no more than a 49 percent interest in the property. Condominium Another property type in Costa Rican real estate is condominiums, which differs slightly from what U.S. As well as Canadians might think once they hear the term. In the U.s. Or Canada, the condominium would generally mean a large growth and development of apartments or townhouses, and while that is the case in Costa Rica, it also refers to a specific law known as "Condominium Law." this law provides certain benefits to designers of a wide array of properties, including single-family residence projects, finished lot projects, condos , and others. The law enables developers to restrict as well as regulate certain facets of the development. As well, this allows individual condo projects to have their own by-laws, which can often restrict owners from certain projects that would not be in keeping with the overall look and style of the project. Untitled A fourth type of property are untitled qualities , which are not recorded at the Public computer registry of Properties. In some instances , families will have lived on these types of properties with regard to generations, while others may have never been occupied. In summary it is best to buy titled property in Costa Rica. The process to acquire title from a property that does not have feee simple can be a very long remove affair. For more info please contact the law offices of Barrantes & Associates US/Canada 1-800-979-4174 011 506 2 256 3807 email@example.com lawyers in Costa Rica
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'