Real Estate Scams Increase in Guatemala

The number of reported frauds when purchasing properties increased from 101 in 2007 to 251 in 2009.

Monday, November 29, 2010

Among the various forms of cheating, the most common is the legal form called "material and ideological falsehood," which occurs by performing a public document partially or completely false. In these operations attorneys as well as civilians participate.

As reported in Sigloxxi.com, one of the causes is the lack of registry controls; it is possible to register property on behalf of third parties without the knowledge and consent of the owner."

Oscar Cruz, president of the Attorney Bar Association said they have a "blacklist" of professionals who have committed these crimes and are seeking court permission to publish it.

More on this topic

Surveillance of Property and Assets

April 2012

Starting May 1st, the National Registry of Costa Rica will offer a property alert service which will give owners greater control of their assets.

The service is called Alert Registry and will be available to owners of personal property (vehicles) and real estate (land). The annual fee to receive notices is $15 per year (7700 ¢) for each of the properties you want to put under surveillance.

Costa Rica: Trusts to Manage Properties

September 2011

Greater knowledge of these financial tools is driving their use in the country.

Equity and Guarantee Trust funds are the most popular of these types of instruments in Costa Rica, where more and more companies and individuals are choosing to manage their properties using this alternative.

Increased Demand for Repossessed Properties in Panama

July 2011

Revenues of $115 million has been collected from the auction of 200 properties, between 2004 and 2011.

In the first six months of this year alone, 22 properties were auctioned for a total of $8.5 million, $3.2 million higher than the estimated value (which was $5.4 million).

Bulgarian join race for real estate in Panama and Costa Rica

May 2008

Erna, a Bulgarian real-estate agency, is now offering properties in Costa Rica and Panama to potential Bulgarian buyers. Erna says interest is growing because the weakness of the US dollar is pushing down prices for Europeans.

In an interview with Efe news agency, Erna's director, Petronia Staykova, said the company had already received 10 requests for properties in Central America and the Caribbean and was lining up more clients.

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Barrantes & Associates

Barrantes & Associates is a full service Costa Rica Law firm located in San Jose Costa Rica. We have been in business since 1999. All our Attorneys are English speaking.
Operates in Costa Rica and Panama
Phone: (506 ) 2256 3807 - (506 ) 8339 1622

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