In Costa Rica, the responsibility of record keeping as far as Real Estate is concerned lies with the National Registry. Almost all(if not all) of the properties you will come across in Costa Rica are documented in the ‘Public Property Registry’ where they are recorded by a Notary public.
An overview of the property sought for can be obtained by searching through the ‘Land Registry Page’ on the internet. You can view the name of the owner, location, characteristics, nearby properties, easements, liens, mortgages, value of property, restrictions with regard to use and property plan number. Properties which have not been included in the ‘Folio Real System’ will be present in the Public Register, and can be searched for using the title and plot number.
Properties are registered with a number that begins with the number of the province e.g. Cartago(3), and is followed by the property number and right number.
Land plans are recorded in the Property Plans Registry with each property having it’s own recorded plan and location denoted by the coordinates, boundaries, and drawings., the property or ‘Folio Real’ number , name of owner or owners, all in conformity with the Real Estate Property Registry. Both Registers help to maintain the titles in order.
Other points to note when thinking of purchase and Registration of Real Estate in Costa Rica include:
Easements and Liens
This refers to the rights a third party holds on a property. It could refer to water, air, access to road, light e.t.c without the right to take another’s property if an obligation is not discharged (a lien). It may be dicey to take on a transaction without first of all ensuring that the transferred easements therein included is still in force. This is very important because if it has been given away with some other property, you may find yourself in an unpleasant situation after purchasing the property.
Registrar public faith
This is a principle in Costa Rica that can be interpreted to mean that the only valid information recorded about a title is that which can be found at the National Registry. If an information cannot be found at the Registry, it does not exist as far as legal issues are concerned.
Ensure you consult the Registry before you get involved in any transaction involving Real Estate. This is because according to the principle of Registral Publicity in Costa Rica, it is believed that all the information at the Registry is public and as such available to everyone. You need to ascertain the legal standing and authenticity of whatever title you are purchasing.
Notary Public
A Notary Public must be involved in all transactions involving land. They make a public deed which they present for recording at the National Registry. Notary public also ensures the registration of the deed in the National Registry. As part of the complete registration protocol at the Registry, the Notary public collects and pays the Property Transfer Tax and Documentation stamps to the bank.
