Not all properties in Panama hold a property title registered in the National Registry. Panama allows people to possess government-owned land to make improvements upon it. It is called "Rights of Possession" (ROP). An ROP property can be "sold" (transferred) to third parties, including foreigners. These properties are not recorded at the Public Registry as titled property deeds are.
The "Right of Position" property certificate is registered at the regional justice department (Corregidor) where the property is located. Panama allows owners of "Rights of Possession" property to file documents to purchase the land from the Panamanian authority and thus obtain a title for their ROP property.
All titled properties in Panama are registered in a computer system known as the National Registry, which is a public service accessible online. Each property is assigned a unique "Finca Number" as its title number. The property title contains crucial information such as ownership (personal name or corporation), boundaries, location, current mortgages, and other liens. You can obtain certifications of a property or corporation, copies of powers of attorney (POA), and copy of the property survey map.
Properties with title deeds generally have a higher resale value than untitled properties. Potential buyers can be assured of the property's legal status and ownership, which means that if you decide to sell the property in the future, you will likely receive a higher investment return.
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