Buying Beach Property
When considering beachfront property, always bear in mind my warnings about having a good lawyer and not taking sellers at face value. Remember, you don't actually own the first 200 meters of land; that belongs to the municipality. You lease it, on renewable periods, up to 99 years. the annual lease payment was minimal till 2008,when it multiplicate by 16 to cover the lost of not increasing the fee over 15 years. still it is in a reasnable price, don't overlook it or the municipality can revoke the lease. Furthermore, there is a question in my mind whether the length of leases can be arbitrarily shortened. That's for your attorney to answer. Another point: the municipality may have no idea who actually owns the lease on the property. Why? Because most property belongs to a sociodad andnima, (an anonymous corporation), and there's no way to know who owns the corporation or which corporation controls the lease. Regardless of what the municipality might believe, your lawyer must thoroughly check the archives in San Jose to see if title has been transferred. You might end up in a queue of buyers who think they own the same prime beachfront property.
another important note on the subject ,to own a beach front land the corporations talked about above need to be owned by a Costa Rican , at least 51% of the shares. one way around it is to have another corporation , (which is considered by law a Costa Rican entity and is yours 100%) to own the 51% of the corporation that own the land.
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