Most legal questions posed by foreigners are related to buying property in Costa Rica.
It is important to know that you need a notary when purchasing a property in order to record the deed and transfer the property to your name or Costa Rican Corporation.
All notaries are attorneys but not all attorneys are notaries. An attorney must devote a certain number of years in law practice before they can return to the University to get their Master’s Degree and become a notary. In addition to needing notary services a buyer must also select an escrow company. It is only in the last 5 years or so the Costa Rican government established a regulatory entity under the Costa Rica Article 15 of Law 8204 "Superintendencia General de Entidades Financieras” commonly referred to as “S.U.G.E.F.".
Any company, bank, law firm receiving, holding, distributing third party money must apply to S.U.G.E.F. for approval to operate and is under strict scrutiny and compliance regulations.
It is a good practice to select a closing notary/attorney who also has a separate Escrow Service company to support a smooth transaction closing.
In selecting an attorney it is always good to ask your professional real estate agent, broker/owner of the real estate company who has been in business for a number of years, who they recommend. They will have been through a number of transactions with multiple buyers and will know which attorneys are the most diligent, professional and responsive!
Linda Gray, Owner/Broker Coldwell Banker Coast to Coast Properties, 18 years conducting real estate business in Costa Rica and 12 years as the broker of record of a Coldwell Banker office in Laguna Beach California, VP of Coldwell Banker Costa Rica Master Franchise and founding director and President Emeritus of the Costa Rica Global Association of Realtors offers her recommendation:
Montejo Law Firm, Andres Montejo and Associates and his escrow company Montejo Trust.
You may visit his website to learn more about him and his company www.montejolaw.com
011-506-224-5757 in San Jose and in Playas Del Coco, Guanacaste 011-506-2670-1111 located in the Pacifico Village Shops, second floor suite 8.
For Montejo Real Estate Legal class segments – visit youtube at: https://www.youtube.com/results?search_query=Montejo++Law
You may click on the link within this website for:
- Frequently Asked Questions with Answers
- Buying Property in Costa Rica – The Buying Process
- Buying Property in Costa Rica – Who can Buy Property
An impressive team: Coldwell Banker Coast to Coast Properties, Linda Gray Owner/Broker, her sales Team and Montejo Law! "We make it happen, You make it Home"!