Buying Costa Rica property in a banktrust

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  • May 26, 2006 at 12:00 am #176697
    arno
    Member

    I am considering to buy a property (house + lot) which is in a banktrust. So called : the buyer has a clear title on the property within the banktrust.
    The question is : what do I really buy?
    According to definitions I could trace: It is the trustee who has legal title on the property and the beneficiaries has only the right of use and the enjoyment of the property.
    Is my conclusion right in my case that I buy only the right of use and not the property itself???? Like to receive expert opinion!

    May 26, 2006 at 11:57 am #176698
    Andrew
    Keymaster

    I would strongly suggest that you speak with an attorney about this, I don’t know if anybody on the forum is qualified to give you this kind of fairly complicated legal advice….

    Scott

    May 26, 2006 at 1:27 pm #176699
    DavidCMurray
    Participant

    Scott has it exactly right. Find an attorney who specializes in real estate matters to review and explain the situation to you.

    Then find another attorney and have him or her confirm what the first one told you.

    This is too important a matter to take lightly.

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