Costa Rica uses the Roman Civil Law Legal System, which is the Legal System used by the majority of countries in continental Western Europe and Latin America. It is a more formal and document-oriented Legal System than the English Common Law Legal System which is used in the majority of [...]
This is a question, which may appear to have a very obvious answer, particularly for those living in Costa Rica. However, the manifestation of the inquiry required in Costa Rica is much more extensive than a prospective first time property purchaser may first envision. The majority of properties offered for [...]
In various legal transactions, you will often hear Lawyers bandy about the term “due diligence”, particularly when it comes to property purchase transactions, property rental transactions, when purchasing a business, or when purchasing a used vehicle. It is important to note, that the depth of the due diligence investigation required [...]
What is the Property Purchasing Process in Costa Rica? Many of you reading this blog will have purchased a property in other jurisdictions, particularly in Canada or the United States. The general flow of the property purchasing process in Costa Rica is very similar to that in these other jurisdictions, [...]
How Does the Residential Renting Process Work In Costa Rica? Renting a residential property in Costa Rica is governed, primarily, by the provisions of the Tenancy Law (Ley General de Arrendamientos Urbanos y Suburbanos). Rental Contracts are considered as being Long Term Rental Contracts. The only exception to this, is [...]
What are the Most Common Forms of Holding Real Property Interests in Costa Rica? In Costa Rica, the three common forms of holding real property interests are Registered Title Properties, Right of Possession Properties, and Concession Leasehold Properties. Each of these three real property interests has distinct characteristics and should [...]
How are Property Purchase Closing Costs Calculated in Costa Rica? For expats moving to Costa Rica and purchasing a home, it is useful to have ready information available to calculate the amount of funds that will be required for closing on any given property purchase transaction. The exact calculation of [...]
What Are the Considerations for Purchasing Pre-Construction (Pre-Sales) Properties in Costa Rica? In Costa Rica, there is currently a residential construction “boom” and the offerings for Pre-Sales property purchases by Developers is abundant, particularly in the beach tourist-oriented areas and in the Central Valley, in or close to the San [...]
Purchasing Real Estate in Costa Rica can present many pitfalls to the prospective expat purchaser. As a practicing Real Estate Attorney in Costa Rica, I have seen many of these pitfalls, often presented to me for resolution by expats after the damage is done. One of the main items for [...]
How do Escrow (Trust) Accounts Operate in Costa Rica? The question often arises with expats moving to Costa Rica, as to how large sums of money may be transferred to Costa Rica from their home country bank, in order to complete a real estate purchase transaction or the acquisition of [...]
