What You Should Know Before Buying A Property

M&E Attorneys

There are several transactions subject to inscription in the Public Registry in regards with Real Estates: mortgages, donation, improvement statements, co-owners acts, anyway, all sort of deeds requested for the due inscription of real estates in Panama. In this particular article we will focus on the Purchase-Sale deed.

Before buying.

My first advice would be that before you get engage in acquiring a property: 1)Verify its situation in the Public Registry, given that you could find servitudes or legal seizures attached to it. 2) Consult the General Direction of Cadastre, where you can acquire the plans of the polygon to buy and its regional location. 3) Make sure in the Ministry of Economic and Financial affairs (Ministerio de Economía y Finanzas - MEF) how much the property has to pay in taxes annually and finally, if you are still interested in doing the proper improvements. 4) Ask in the Ministry of Housing (Ministerio de Vivienda – MIVI) for the construction and