What restrictions do non-Costa Rican nationals have when owning real estate in Costa Rica?
All foreign buyers have the same rights as Costa Rican nationals when purchasing and owning real estate in Costa Rica except where the property is a concession. The Ocean Club is titled to the 50 meter zone and is not on concession land. To clarify this means that the first 50 meters measured from the high tide line inland is public and can not be built upon. The next 150 meters can be titled or concession depending on the granting of the title and if titled, can be built upon.

How is the Ocean Club conveying title?
All of the residences at the Ocean Club will be conveyed in fee-simple ownership. Each private residence will be in a Costa Rican corporation (Limitada) as this has tax advantages when it comes to re-selling the property at a later date. The Ocean Club sales team will be happy to refer you to a Costa Rican attorney who will explain this process to you.

Is title insurance available?
Yes. Stewart Title www.stewarttitleamerica.com, is the company that the seller has chosen to use for their escrow agent. As a purchaser you will have several options when it comes to title guarantee.
When you hire a lawyer he/she will research the title’s legal standing as part of their services.

Can a contract to purchase be assigned prior to the closing?
No purchase agreement or sales contract can be assigned and the property can not be re-listed or sold to another buyer prior to closing without the written approval by the Developers.

When does the transfer of the property take place?
Title transfers at close of escrow which shall take place within 15 days (period of review) after the purchaser has received ‘Notice of Substantial Completion’ and all Closing Documents.

Do I need a Costa Rican lawyer to purchase at the Ocean Club?
We recommend that buyers hire a lawyer to assist with the real estate purchase transaction in Costa Rica. Our sales team can provide a list of professional lawyers that are familiar with the Ocean Club.

Do owners at the Ocean Club become residents of Costa Rica?
No. To become a resident of Costa Rica it is necessary to contact a lawyer who will guide you through the process. 90 days is the length of stay per your entry visa (stamp) and can be extended by a minimum 72 hour visit to another country.

What restrictions are placed on the resale of Ocean Club properties?
In order to maintain the highest resale values and sales services we recommend that all owners in the Ocean Club list their property for resale with the Ocean Club Sales Team.