Buying and Selling Real Estate in Costa Rica (Update) | International network of lawyers
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER COSTA RICAN LAW –
Real estate law in Costa Rica is governed by the principles established in the Civil Code of Costa Rica for the acquisition, sale and in any way the alienation of property. The official registration of real estate is done through a registration system, which is administered by the Real Estate Registry of the National Registry of Costa Rica. This system consists of a system of deeds of registration, which provides for public registration of deeds affecting land.
Ownership of non-residents –
Property in Costa Rica is an individual right legally protected by our Constitution, which states that no person can be deprived of their property unless it is for necessary public use, in which case they will be compensated. The constitution grants the same rights to foreign citizens. A natural or legal person who has acquired a good may dispose of it in any way whatsoever by selling it, renting it, encumbering it, mortgaging it or using it for any purpose he wishes, as long as that it complies with the law and the land use regulations. All natural and legal persons, whether of Costa Rican or foreign nationality, may buy, sell, possess and in any way dispose of the goods which belong to them.
Please see the full chapter below for more information.