Due diligence, Title Search
Caveat emptor: contrary to what you will be told by many websites - including, quite surprisingly, some local law firms' - there really exists no "title insurance" or "title guaranty" in Costa Rica as of today, nor is there any need thereof.
The reason for this is simple: land ownership and its current status is a matter of public record, and the government itself guarantees that the data duly recorded with them is accurate and true, except where registration fraud is involved (which is a situation no "policy" is likely to insure you against anyway, no matter how costly).
Consequently, as part of your due diligence before acquiring real estate property in Costa Rica, we provide you with title search and fraud prevention services.
Our standard title search service includes:
- A survey of all relevant information on the Registro Público (Public Registrar's Office).
- An investigation of any liens or encumbrances the property might have.
- An investigation of Court cases from which liens are attached to the property. Should the lien arise from cases outside the San José area, additional charges will apply.
- Confirmation that the cadastral survey ("plano catastrado") for the property exists.
- A report of the legal status and dimensions of the property.
- Printouts of all relevant registered legal documents obtained directly from the Costa Rican Registro Público (Public Registrar's Office) system.
This report is guaranteed to be accurate when produced and will be delivered to your email address within five (5) full working days.
Information you must furnish us with:
- The "Folio Real" registration number (the unique identification number that all properties must have) or, the complete name of the owner (company or person). If you intend to acquire land which is to be segregated from a bigger lot, you must have the finca madre number which is the registered identification number of the mother property.
- The province (there are seven in Costa Rica) where the property is located.
- The name of the current registered property owner.
Should you decide that you want to go ahead and negotiate for the property we have examined for you, we are capable of advising you regarding purchase/rent contracts, developments and their financing structure, as well as in the solution of problems arising thereof.