The 4 most common forms of ownership of Real Estate in Guatemala
Buying as a foreigner in Guatemala…
The general say : “It is never a good idea to make a significant investment in real estate unless you understand all of the things that are involved and that have to be done” is good as well for Guatemala. Particularly if you are not used to invest outside your own country and if on top of everything don’t speak the local language. Before buying in any country it is highly recommended to get to know the country and what it means to be owner… And it is fundamental to know what to expect and what the process is for buying real estate in Guatemala when you are a foreigner. Look into facebook group to get a feel of the issues the expats bump into.. Like this one for Expats living in Guatemala
The most common one is what we call
They are rights acquired over times and they can be sold and acquired. Now these kind of properties are very difficult to be guaranteed particularly when you buy raw land... Now if you buy a house on a land with rights of possessión your security is higher as you can show continuous and undisturb ownership. Acquiring rights of possessión doesn’t prevent you to comply with other laws like the one we discuss here. As if your land is in 3.5 kms from the ocean shore line, 200 ms of a lake, 100 ms of a navigable river you have to get a leasing contract with the government.
Be careful when buying on any waterfront that the squatters rights have not been transformed into an OCRET contract and the seller is just trying to scam you.
When buying the rights of a contract you will have to pay twelve percent of government taxes.
In Guatemala barely 20% of the territory is surveyed by the government. It is in process but it is a slow process..
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