Jaco Blù Private Residences
Relax And Enjoy of Costa Rica And Pacific Coast in Jaco Blù Private Residences
Kinds of properties in Costa Rica
Registered Property
All properties in Costa Rica that have an owner, according to law, must be registered in the public institution in charge of all related matters (i.e. owners of land, cars, boats, intellectual property in Costa Rica, corporations, powers of attorneys in Costa Rica and more). This institution provides public access to these registries which help to make buying real estate in Costa Rica and business in general more secure. It is called the National Registry (Registro Nacional) and there you can find all the information you need to know about any Costa Rica property you are interested in, such as: who is the current owner, the survey plan, the size and boundaries of the land in Costa Rica, if there’s a mortgage on the Costa Rica property, land segregations, etcetera. Within the registered properties in Costa Rica, there is a special classification:
Property in Condominium.
Condos in Costa Rica are subject to some different regulations that come with certain advantages, like the potential to enjoy common facilities such as pools, tennis courts or gardens depending on the Condo in Costa Rica. There are also some restrictions set by law and others set by the Condominium’s specific Internal Rules and Regulations. These types of properties in costa Rica usually have regulations governing security, moral code, and a common maintenance items. These added amenities typically add cost to the initial purchase prices of such properties in Costa Rica.
Maritime Terrestrial Zone (Zona Marítimo Terrestre or ZMT)
The Maritime Terrestrial Zone encompasses a coastal area of 200 meters (646 feet) from the mean high tide line and has special laws governing its use. This area is divided in two:
- The Public Area - which extends from the mean high tide line up to 50 meters (164 ft) inland. This area is public and there is no possibility of ownership of any kind, neither for Costa Ricans nor foreigners, and only approved ports and marinas in Costa Rica can be built there.
That’s why there are no private beaches in Costa Rica and if you are looking for a beachfront property in Costa Rica you should be extra careful in your search, always seeking competent legal advice before committing to a purchase.
- The Restricted Area - extending from the end of the public area inland an extra 150 meters (492 ft). This is also known as the concession area. This area cannot be owned either, but the Government can allow you to build on this Costa Rica land for use and enjoyment for a specific term. This term, in most cases, can be renewed for equal periods (normally 20 years). If the “concession” is not renewed, the land and everything built on it reverts back to the Government. In order to obtain a concession in Costa Rica, an application must be presented to the local government. This process usually takes time and you must consider this in your plans. Maritime Zone properties in Costa Rica are one of those that come with limitations for foreign investors. By law, the concession cannot be granted to a foreigner alone; the concessionaire must be a Costa Rican or Costa Rican company that is controlled by Costa Ricans (at least 51% of the company’s shares). The exception to this rule is that a foreigner who has maintained permanent legal resident status for at least 5 years may also be granted a concession without the need for any Costa Rican participation.
Non-registered property
Almost all the land in Costa Rica is registered in the Public Registry (Regisro Publico de Costa Rica). There are however, properties in Costa Rica that have not yet been registered or are in the process of registration. These are typically found in rural areas of Costa Rica. It is not wise to purchase unregistered properties in Costa Rica as the rights of possession could be contested. In these matters it is also wise to seek competent legal advice.
Public Property
There are some parcels of land in Costa Rica that belong to State institutions, Municipalities (local government), National Parks and reserves. These are public properties and are included under different special regulations. These public Costa Rica properties will remain public.
Time share or 4-Dimension Property
This is not strictly an ownership right, but is a figure that has become common in other countries as well as in Costa Rica. This is property in Costa Rica, usually with some sort of structure (a house in Costa Rica, a condos in Costa Rica or farms in Costa Rica), registered in the National Registry and owned by a company or a person. The owner sells the right of use of that land for a specific time period, usually one or several weeks per year. A person can buy a time share for particular time frame (i.e. week, weekend, specific days) for a limited number of years, and enjoy the property in Costa Rica while he/she has the right to do so, according to a contract. This kind of property is called 4 Dimension Property because you can enjoy the 3 Dimensions of the land (length, height and width) just for a limited time per year; “time” being the Fourth Dimension.