BUYING RIGHT OF POSSESSION IN PANAMA

If you are buying the right of possessions, you need to check:

• The certification of the mayor's office that the seller is the holder of the right of possessions.
• Ask for the file number to verify if the seller already started a titling process and where they initiated this process because different institutions process different titles [i.e., mayor office, ANATI (Catastro part and Reforma Agraria)]
• If the seller has already started a process, the purchase transaction should be recorded in the government institutions verifying the titling process.
• It's crucial to obtain a declaration from the neighbors acknowledging the seller as the owner of the right of possessions. This step not only validates the seller's ownership but also fosters a sense of community integration, making you feel welcomed into the neighborhood.
• As a buyer, you have the right to verify the survey and plan of the property with the technical specifications and calculations. While the seller may request you to pay for this, it's an opportunity for you to ensure that the survey marks are placed on the property per the plan, giving you a sense of control over the transaction.