Lawyers

Many people who are new to the Costa Rica never know on what familiar terms you will get with your lawyer if you buy property here and, especially, if you become part of the expat community living here.

The law form they use in Costa Rica is different then in the states. It is based off Latin law verse the U.S., which is based off of common law so even if you have lots of experience in the U.S. with law, it does not work the same in Costa Rica. In Costa Rica the law is much more written. The U.S. contracts can be valid simply written signed in dated where here they often have to be notarized and registered to be a strong contract that is enforceable by the court system.

Another major difference is the measures of liability. You’ll notice when traveling through Costa Rica that many of the canopy tours and horse tours there are no liability forms that need to be signed as in the U.S. That’s because the law does not recognize the same liability that is recognized in the U.S. It is much more lax here.

When purchasing property a real estate agent will negotiate, gather all the proper data, write an offer then pass the offer over to a lawyer who draws up a formal purchase agreement. The lawyer also does a property check on the title to make sure there are no liens or inconsistencies with a title. The agent and lawyer will work together coordinating a closing time and making sure the property is delivered as stated in the purchase contract.

After closing on a property, often times a lawyer will make additional corporations (Sociedad Anonimas) to set up bank accounts, electric, and other utilities. An additional corporation is formed to hold other assets such as vehicles for liability reasons.

After this process you will have developed a relationship with your lawyer, and if it is a good relationship lawyers often handle things like residency papers and help mange the corporations if you have income producing properties in Costa Rica with your accountant.

It is important to find a good lawyer. I recommend going off of referral, just as I would recommend doing just about anything in Costa Rica by referral by others who have had good experiences working with a person/company.

A good real estate agent should be familiar with Real Estate Laws in Costa Rica and also should be able to help recommend a great lawyer.

Check out this new listing!

http://marketing.remaxdesigncenter.com/email/54/85254/output/232331/1267377/1267377.swf

Here is my first intro video

The Update !!!!!!

Events in the Jaco this weekend are ripe for the picking. We have all the lovely surf people coming town for the national championship and the city surfing championship. I guess they (people who are from San jose) have a separate category of surfers who don’t live on the coast or aren’t pro?

Jaco and Hermosa have been a little rainy so we’ll see if the sun can hold out Sunday when I can make it to check out the activities.

The new Hwy to San Jose is still closed which is frustrating, but yet comforting that I know it is still there and will be opened sometime in the near future.

What’s new in Real Estate. I see the best agents all around Jaco showing condos, condos, and more condos. It is the really great priced condos that are selling-on that topic!

I have a Club Del Sol Condo for sale for the price of $175,000. That is a steal! It is also one of the nicest located condos in the complex, it has a great rental history of producing $8-10,000 yearly and the next higher priced condo in the development is $250,000. You really CAN NOT go wrong with this investment. Please contact me for more info on this property at PiperRenner@hotmail.com.

Come join us in Jaco Costa Rica, for sunshine, surf, great food and great people!

New Development Osa Peninsula

The Osa Peninsula, along the southern Pacific coast, has always been one of Costa Rica’s most isolated and least developed locations. I have visited there a few times and it was always hard to get to but definitely remote and stunning landscapes. The area's remoteness and lack of construction has helped preserve one of the planet's most diverse reserves of flora and fauna.

Currently plans are arising for more hotels, a marina and an international airport in Sierpe. The locals who prefer the isolation of the area are concerned about all the development but many locals are ready for more opportunities and growth of the area.
I believe it is one of the last truly preserved area of Costa Rica.  I think a new airport will bring rise to some large all inclusive resorts but I don’t think it will change the area into another Guanacaste.  Guanacaste was popular and then became a boom town when real estate and the economy was soaring, which is when the new airport went in there.  Now Guanacaste has its major resorts like the four seasons but the rest of the smaller developments and towns are more like ghost towns.  Guanacaste investments have put some major investment firms in San Jose on the verge of bankruptcy.  I think the new airport in the south, a less popular and traveled area and in a turbulent economy, will be a slow and difficult start much different then what Guanacaste experienced.  I do think in the long run it will bring benefits to the area and Costa Rica although the Central Pacific will remain the most “happening” and moving city’s on the Pacific coast.