The Buying Process
Purchasing
incorporation appraisals home inspections attorneys contracts survey map registration notary taxes titles closing
Registration
All property must be cataloged and accessible in the Public Registry of the National Registry. Over 99% of all properties are registered this way. To register a condominium, the Propiedad Horizontal section is used and to register beach front the Registro de Concesiones de la Zona Maritimo is used. The Public Registry Report (Informe Registral) gives all of the information regarding Costa Rican Real Estate using the unique title registration number or the folio real: title holder, mortgages, boundary lines, easements, declared value, property tax appraisal, liens and encumbrances.
Register the transfer deed once all the fees have been paid. It is the responsibility of the notary who composed the transfer deed to make certain that the deed is presented (anotado) and registered (inscrito) in the Property Section of the Public Registry. Regardless, it is vitally important to follow up because of the stakes. Presentation secures that you are first in time and first in rights for the properties ownership and uses. Presentation does not guarantee that registration has been completed properly. To ensure that registration with the Public Registry is executed and the transfer deed is registered you must make sure that: all taxes and registration fees are included, a certified copy of the deed provided by the municipality where the real estate is situated is given verifying that the seller's property tax (bienes inmuebles) and municipal assessments (impuestos municipales) have been paid all the way through the closing date. In addition, any encumbrances like unpaid mortgages, liens, or unsettled judgments must be cleared prior to the registration of your transfer deed.
Upon proper presentation and registration of the transfer deed, the Public Registry will accept the deed for registration. The original documents will be returned to you sealed and stamped. The timeline for public registration is 45 to 60 days after presentation if there were no errors on the deed. If this is not done you must contact the notary to make sure registration was done properly. If not, then you will necessarily run into problems when you try to sell or improve the real estate.
Navigating the Registro!
- Beachfront (Concesiones de la Zona Maritimo Terrestre)
- Commercial (Seccion Mercantil)
- Condominiums (Propiedad Horizontal)
- Bank Mortgages (Hipoteca)
- Bond Mortgages (Cedulas Hipotecarias)
- Plot Registry (Catastro)
- Leases (Arrendamientos)
- Public Works Concessions (Registro de Concesiones de Obra Publica)
- Presented but not yet registered (Diario)
- Maps (Mapeo)
- Scanning Department (Escaneo)
- List of power of attorney and people affected by outstanding liens (Personas)
