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YOUR REAL ESTATE ATTORNEY SHOULD BE ABLE TO HELP YOU IN LEARNING HOW THINGS WORK AND HOW TO PROTECT YOUR INVESTMENT.

REAL ESTATE
ACQUISITION

Buying property in a foreign country can be an intimidating and complicated process.

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Different legislation, different ways of doing things, and numerous procedures tend to scare foreign buyers looking to acquire property in Costa Rica. Finding someone knowledgeable, with high ethical standards, to advise and guide you in this complex process is of the utmost importance. Your Real Estate Advisor should be able to guide you through the whole acquisition process and advise you on how to protect your investment.

A qualified real estate attorney can protect you from many costly mistakes, including errors in the documents, errors in the amounts, and other problems that could lead to litigation or other expensive legal action.

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A.L.I. Attorneys has specialized attorneys that will assist and guide you all the way through the acquisition process to guarantee you a successful transaction. The firm has assisted domestic and international clients in all areas of real estate law such as purchases, leases, mortgages, all types of easements, living trusts, residential condominiums, and developing a comprehensive knowledge of Costa Rican regulations.

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The transaction process starts with a thorough and comprehensive legal review of the property title, a basic Due Diligence of the property and of the corporation that usually owns the property. 

 

It is very common in Costa Rica for properties to be owned by corporations so a transfer of stock can take place instead of a transfer of Title.  As Part of your transaction, we will: - Help you understand the purchase contract, including how you will take title on the property. -Check that there are no covenants, easements, liens, etc. registered against the property that will impede your use of it. -Prepare and register all legal documents. -Clarify the terms of the mortgage and work with your bank, if necessary, to modify them. -Scrutinize the adjustments, including taxes owed and utilities costs paid, prior to the closing of the transaction. -Attend the closing and review all the documents you will be required to sign. -Arrange title insurance protection to safeguard you from losses due to title defects. -Ensure you receive a valid registered ownership subject only to the liabilities you have accepted.

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Consideration must be given to the fact that there are certain elements of the essence of the legal transaction (“juridical act”) which must be always present in the respective purchase and sale transaction granted by means of a public deed or transfer of stock.  An adequate legal representation is critical since the absence of a single element would deem the real estate transaction null and void for all legal purposes, potentially resulting in a lengthy and cumbersome legal process.

We will provide assistance in matters related to:

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  • What to do if you wish to purchase property in Costa Rica?

  • What are the rights and duties of the Purchasing party as well as the Selling Party within the Promise to Purchase Contract and in the Purchase itself?

  • How to safely purchase property in Costa Rica?

  • How to purchase a property through a Costa Rican Corporation?

  • Aspects to be considered in order to fully take advantage of your investment.

  • Drafting and reviewing the contracts necessary to acquire or sell property in Costa Rica.

    • a) Financial Planning; how to protect your assets.

    • b) Tax-sensitive guidance to help clients reach and implement commercial decisions and corporate strategies, while incurring minimum tax liabilities.

    • c) Contract Negotiation, Drafting and Reviewing.

    • d) Property Title Investigation, Due Diligence and Property Title Guarantee.

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