Many aspects of buying property in Nicaragua will feel familiar – like the terminology of closings, property registrations, title deeds and so on, but there are also some terms that you may not recognize. We’ve listed the main ones below. For a step by step breakdown of the property buying process in Nicaragua, click here.
Escritura – The title deed. A new deed is drawn up when a property is sold, showing the buyer as the new owner.
Promesa de Venta – A “Promise to Sell” document. The term can be used interchangeably with the term “deed”, but it is not an actual deed.
Solvencia Municipal – A certificate of proof that property taxes have been paid. It’s typically provided by the seller and checked by the buyer’s lawyer as part of the due diligence process.
Carta de no Objection – A document that may be required by the Attorney General to validate a title.
Historia Registral – The title history of a property. Checked as part of the due diligence process to determine if there are issues in the history of the property that need further investigation.
Libertad de Gravamen – A “Free of Liens” certificate that documents if a property has any issues that might prevent or affect a legal sale of the property such as previous promises of sale, mortgages, pending legal cases etc.
Catastro – The Cadastral Office where property surveys are approved.
Registro Público – The public registry where title deeds are recorded. Every Department has its own Public Records. As San Juan del Sur is part of the Department of Rivas, the public records for San Juan del Sur titles are held in the Rivas public registry.
Manzana – A measurement of land area equivalent to 1.73 acres.
Vara – A unit of length equivalent 33 1⁄3 inches (just under 3 feet). 1 yard = 1.08 vara.
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