Costa Rican Title Insurance

Title insurance

Costa Rica has little restrictions on the ownership of property but does, however, have a complex legal system that governs the ownership of property and the transfer of titles.

Don’t be scared off by the complexity of it though, because many excellent attorneys specialize in streamlining the process for comparatively modest fees.

Yet even after your lawyer assures you that the title to the property you plan to buy is clean and valid, it’s still wise to take out title insurance.

Mistakes do happen, especially when dealing with government bureaucracy and, of course, after mistakes happen there’s often little you can do unless you have a good title policy. If you do, you can make your claim directly to the insurer who then takes up your case.

When you buy a title-insurance policy for foreign real estate, be sure that it covers these threats to title:

  1. Ownership issues – what if the property isn’t really yours?
  2. Liens, mortgages, contracts, options or other encumbrances on the title.
  3. Fraud and forgery issues, including those that might have resulted from undue influence, duress, incapacity or impersonation.
  4. Rights of access to and from the land and covenants limiting the use of the land.
  5. Transfer problems, such as unauthorized conveyances by a corporation, partnership, trust, limited liability company or other legal entity, or one derived through defective judicial proceedings.
  6. Documentation disputes, such as the invalidity of a document executed under an invalid power-of-attorney, or one improperly executed or recorded, or one with an erroneous or inadequate legal description of the land.

The good news is that title insurance is affordable. It usually only amounts to 0.5% of the purchase price – and often less

Interested in learning more about Costa Rica and other countries? Then sign up for our daily postcard e-letter. Simply enter your email address below and we’ll send you a FREE REPORT – Why Are Americans Still Flocking to Costa Rica.

This special guide covers real estate, retirement and more in Costa Rica and is yours free when you sign up for our IL postcards below.

Get Your Free Report Here

No spam pledge. We value your privacy.

Your Chance to Retire Overseas Now

Sign up for our free daily Postcard e-letter and we'll immediately send you a FREE RESEARCH REPORT on the most desirable —and cheapest— retirement havens available to you today.

Each day you'll learn about the best places to retire, travel, buy real estate and enjoy life overseas.

Enter your E-mail Address Below

We Value Your Privacy.