Buying a titled property in Panama offers several advantages over buying an untitled property. Here are some reasons why it is better to buy a titled property in Panama:
- Legal ownership: When you buy a titled property, you legally own the land and can be assured that the property has a clear title. This means that you have the right to use and sell the property as you wish, and that there are no outstanding liens, claims or disputes on the property that could prevent you from selling it in the future.
- Greater security: Titled properties are registered with the Public Registry of Panama, providing greater legal protection and security. This means that your ownership rights are protected and that you have legal recourse if there are any disputes or issues related to your property.
- Better financing options: Banks and other financial institutions are more likely to provide financing for a titled property, as they can be assured of the property’s ownership and legal status. This can make it easier for you to obtain a mortgage or other financing to purchase the property.
- Resale value: Immovable properties with title deed generally have a higher resale value than untitled properties, as buyers can be assured of the property’s legal status and ownership. This means that you are likely to get a higher return on your investment if you decide to sell the property in the future.
- Ease of transfer: Titled properties can be easily transferred from one owner to another, making it easier to sell or transfer the property to heirs or other parties.
Overall, buying a titled property in Panama provides greater legal protection, security, financing options, resale value, and ease of transfer compared to an untitled land. It is important to work with a reputable real estate agent and a licensed attorney to ensure that the property you are purchasing has a clear title and is legally registered with the Panamanian government.
If you need a professional translation service in Panama, please contact us.