Costa Rica Real Estate – Rights of Ownership.

Have you ever asked yourself how safe your property is?

Recently the right of ownership was explained, which appeared straightforward but many do not understand the legal implications. This right can be held by an individual or by third parties. Possession held by a tenant or by the individual who is loaned a house, or work done by laborers belong to the owner.

The law defines these as facilitative or simply tolerating acts, which do not give the right of ownership.

This is an important point, since possession is an element of the right of ownership that can be exercised Possession consists of the ability of a person to have in his power and will the object of the right and becomes effective by possession for more than a year.

This corresponds to the time from when the possession is publicly taken or if it were clandestinely done, once this is brought to the attention of the person whose property is being taken.

The rights of ownership must be exercised adequately, especially that of possession, since if the property is not cared for or abandoned, another person could exercise possession and not in the name of the owner but in his own. As time passes this right grows, reinforcing a ruling in favor of the “possessor” and against the owner.

Thus it is common to see how when squatters take over a property they plant fast-growing crops to make the appearance of a longer-held possession.

My rights. In principle, the right of ownership is not lost over time. But, how sure is your right to ownership? Often the press reports that someone has had his property taken away fraudulently, that a notary wrote the name of someone else without the consent of the true owner. Is this possible? Unfortunately, yes.

To acquire property it suffices to have a notary present the National Registry testimony that appears to fulfill all formal requirements in order for the transfer to be inscribed, even when the true registered owner had not legally appeared before this notary to give him the right the documentation attests to.

It is much harder to withdraw ¢1,000 from an ATM than to fraudulently transfer a property that is worth more than $1 million.

In the first case, to withdraw ¢1,000 from an account you must insert a card with a magnetic band that has unique characteristics and which demands a code, password or pin that only the owner knows.

These are uncomplicated methods that are safer than a simple declaration of will.

Comparable systems have been proposed to protect properties, but not everyone agrees.

Our thanks to our friends at La Nacion – Costa Rica’s largest Spanish circulation newspaper for their permission to use their article in English..

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Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.