Home Real Estate Tips Costa Rica Property Ownership – what you should know
Costa Rica Property Ownership – what you should know

Costa Rica Property Ownership – what you should know

• Maritime Zone
The coastal areas of Costa Rica are said to be one of the reasons why a number of foreigners flock in the country. A lot are interested to acquire a beachfront property because the seas are really captivating. However, the government imposed a directive that the beachfront property could not be acquired for private ownership. This means that the first two hundred meters of the beach front is owned by the Costa Rican Government. No construction must take place within 50 meters from the public beach area (high tide). The government will have the authority on what to construct on the remaining 150 meters.

If you are interested to acquire a property near the coastal areas, you need to establish a residency of five years. Until now, the ruling on foreign individuals having the same rights as locals to acquire these lands is still a matter of debate among the people.

• Squatters
You may encounter the problems of squatters if you purchased a large plot of land in Costa Rica and not being able to monitor it all the time. That’s the danger when owning a land in absentia.

Once you discover squatters settling in your land, you need to go through the legal process. First, if such activity had been discovered within the first three months, then you can ask for the help of the local police to evict these people. Second, if this was discovered after three months but less than a year, you must go to the proper courts to proceed with the so-called “administrative eviction.” Third, if it took more than a year, then you can proceed with the lawsuit process since the squatters can now ask for “legal assumption of the land.” The last one should be avoided since the court proceedings may take a long time and of course, you don’t need this problem once you settled yourself in Costa Rica.

• Expropriation
The government may need to use a part of your land for use such as enlarges the reserves or parks. This rarely happens for land owners in Costa Rica. However, you need to be aware of this because this may still happen in the future. You can refer with your attorney about this matter.

Now that you are fully informed about property ownership, you will definitely arrive at a sound decision. Good luck in finding the best property in Costa Rica!
 

Newsflash

Property purchase guidelines in Costa Rica

It is without a doubt, a great investment to purchase a property in Costa Rica. This is due to the fact that the country is currently enjoying a boom in real estate. This means that properties are being sold at reasonable rates. Surely, you envision yourself having your very own house or condo in this Latin American paradise. A lot of people are sharing your feeling right now, including the retirees who are thinking of spending their remaining years peacefully in Costa Rica.
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