Samasati Gated Community is regulated by the Condominium Law. When you buy a lot in a gated community that is regulated by the Condominium Law, you are buying a property with a clear title. In Costa Rica a foreigner has all property ownership rights.
The Condominium Law was approved in Costa Rica in 1999.
When a property is divided under the Condominium Law, the totality of the property becomes the “Finca Matriz”, that in Spanish means: "Mother Property".
Each individual parcel inside the "Mother Property" becomes a “Finca Filial”, that in Spaniss means: "Daughter Property". Each Lot Buyers is the exclusive owner of his individual parcel ("Finca Filial" or "Daughter Property"), and a joint owner of the communal property.
When a property becomes a Condominium, each individual parcel is registered at the National Registry separately with a unique number.
General guidelines, referred to as” Regulations for the Development and Convenant Laws of the Condominium” are drawn up and submitted to the National Registry for approval , together with the plans of the "Mother Property" now divided into lots.
The general guidelines are very important. This is the document where you will find the rules and regulations to which each person or family buying a lot needs to adhere in order to offer everyone a peaceful place to live. These regulations will determine a certain living style. For example: if the regulations are designed for nature lovers they will tend to guarantee a safe, quiet and balanced environment to live in, and will protect the Owners from having neighbors that hunt animals or cut all the trees in and around their property.
The rules or guidelines are managed by the Owners Assembly. This body is the ultimate authority in the condo. Every lot owner is a member of the Owners Assembly. This group works like a mini democracy and through voting shall resolve issues of common interest brought to its attention. An Administrator, elected by the Owners Assembly, is responsible for the administration of the Condominium.
To buy property regulated by the Condominium Law in Costa Rica is a safe investment. Each Condominium Permit is signed by the local municipality, the Tourism Ministry ( ICT), the National Housing Institute ( INVU) and the health ministry.
