Real Estate Lawyer Nicaragua

  How to buy or sell a property when you are outside of Nicaragua? To sell or buy real estate when you are outside of Nicaragua you can do it through a Power of Attorney (POA). This POA has to be granted to the person you trust and who will carry out the sale / purchase process. The POA must be signed by you personally before a Nicaraguan Notary Public in the Spanish language. What happens if you are outside of Nicaragua to grant the POA? When you are outside Nicaraguan territory, you have to grant the POA in one of these two ways: 1. In the Nicaraguan Consulate or before the Ambassador with consular functions of the country in which you are. Then the POA has to be sent to Nicaragua for its due legalization. 2. The POA can be made by a Notary of the country in which you are residing and then it must be Apostilled by the Secretary of State, depending on the State you are in the US and in other countries such as FRANCE it must be apostilled by the Court of Appeals, but in...

  NICARAGUA Why is it important to verify the measurements and boundaries of a Real Estate before buying it? It is important for: 1. Avoid legal problems with neighbors. 2. Find out if there are already legal problems with the neighbors. 3. To be able to register and legalize the purchase title, otherwise it will be rejected by the competent authorities. 4. Avoid additional expenses. What institutions are visited to verify the measurements and boundaries? Once we obtain the information on the property that you want to buy, you must review the seller's title and compare the information reflected in the following offices: 1. At the National Land Registry office. 2. In the Municipal Land Registry Office of the Mayor's Office. 3. At the Real Estate Registry office. What is the procedure to follow in the event of finding inconsistencies in the area and boundaries? In the case of finding inconsistencies in the measures and / or boundaries, these can be resolve...

  Border properties. Nicaragua. When can a Border Real Estate be acquired by a foreigner? According to law 749 "Law of Legal Regime of Borders" the border territory is classified into three border areas: 1. Border Development and Integration Zone: it is the area of the national territory, comprised from the conventional border limit and fifteen kilometers (15 km) into the interior of the national territory. 2. Border Security Zone: it is the inalienable area of the State of Nicaragua, comprised from the conventional border limit and five kilometers (5 km) into the interior of the national territory, and that in accordance with this Law is subject to a special regime. 3. Special Border Protection Zone: it is the area of the State of Nicaragua, understood from the conventional border limit and fifteen kilometers (15 km) into the national territory, in which there are indistinctly protected areas, indigenous peoples, communities ethnic and Afro-descendants or strategic...

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. ...