Real Estate Lawyer Nicaragua

How to transfer a property in Nicaragua. In Nicaragua, there are several ways in which real estate can be transferred to another person or company. The various ways to transfer property are: 1. Purchase of property. 2. Donation of property. 3. Transfer by will. 4. Dation in payment. 5. Exchange. 6. By order of a judge. 1. Purchase of property. This is one of the most common ways of transferring property in Nicaragua. The buyer, by previously carrying out  Due Diligence , pays the seller's price for the real estate and proceeds to sign the purchase title, which must be duly registered at the mayor's office, cadastre office, and real estate registry office. 2. Donation of real estate. The owner of a real estate (an individual or company) can donate his property to another person or company with no other requirements than signing the title of donation of the real estate. Whoever receives the donation must accept the donation of the real ...

Real Estate Closing Nicaragua. After performing due dili gence , the closing can be performed. The closing is the second step of three in the process of buying a property. What are the obligations of the seller? It is the obligation of the seller / owner of the property to present the following documents in original at the time of closing: 1. Freedom of lien. (Certification issued by the property office stating that the property has no debts, claims or encumbrances.) 2. Property registration history. 3. Municipal solvency. (Real estate taxes updated). 4. Property plan duly approved by the National Cadastre Office. (Updated) 5. The title deed. 6. Identification of the property owner. If the owner of the real estate is a company, it is also the obligation of the seller / owner to submit the following documents in original: 7. Fiscal Solvency. (Company taxes updated with the State). 8. Municipal Solvency. (Company taxes updated with the city). 9. Po...

Measures, markers and boundaries of real estate in Nicaragua. Measures, markers and boundaries of real estate in Nicaragua. Why is it important to verify measures, markers and boundaries before buying a real estate in Nicaragua? It is important to verify the measures, markers and boundaries for these reasons: 1.  For historical reasons: Due to the confiscation of the properties made in the 80s, many properties do not have a clear and legal title. Its measures, markers and boundaries are not updated. 2.  For  registration reasons: The buyer must verify the measures, markers and boundaries before buying the real estate, because if there is any difference between them, the buyer will not be able to register the purchase title of the property. If there is any difference in the measure, markers and boundaries can be repaired, modified and updated by administrative or judicial way. The way to repair, modify and update the measures, markers and boundari...

Valuations of real estate in Nicaragua.                                            Valuations of real estate in Nicaragua. In Nicaragua we can find different types of valuations for real estate: The Fiscal valuation carried out by the Municipality where the property is located. The Fiscal valuation carried out by the State of Nicaragua through its dependencies. Market valuation carried out by an authorized and accredited company, especially for real estate valuations. These types of companies must have a government accreditation to perform these assessments. Each of the valuations are different, the valuation amounts do not match. The Municipal valuation is the lowest of all. The valuation of the State of Nicaragua is average, but it is not very high, but it is not adjusted to reality. Market valuation is the most accurate valuation at its real price. ...

Due diligence for Real estate in Nicaragua. Nicaragua What is due diligence for real estate in Nicaragua? Due diligence is the investigation activities to verify the legal status of a real estate. What do you want to verify with due diligence for real estate in Nicaragua? It seeks to verify: 1. The legality of the property title. 2. Know if the property is encumbered. 3. Know if the property is in dispute. 4. Know if the property has debts with the State of Nicaragua or the Municipality. 5. Verify that the location, measurements and boundaries of the property are in accordance with the Land Registry Office, the National and Municipal Cadastre Office. 6. Verify that the purchase title of the property will not have legal inconveniences to be registered. 7. Verify that the seller/owner is the legal and legitimate owner of the real estate. When should due diligence be performed for a property in Nicaragua? Due diligence must be performed: ...