Escrow & Title

La Meridiana has negotiated preferential fees with Stewart Title of Costa Rica for escrow and title insurance services.

While you are not obligated to choose Stewart Title, it is the most reputable title company in Costa Rica, is keenly familiar with our project and provides free escrow services if you choose to subscribe to title insurance at a reduced fee of 0.7% of the value of your condominium.


How will Stewart Title provide its services?

Stewart Costa Rica, directly or through any of its subsidiary corporations, will provide Escrow Services to La Meridiana buyers.

Should a buyer choose Stewart to issue a Title Guaranty, Escrow Services fees will be waived. Escrow Services specifically include:

• Timely receipt and disbursement of funds to the seller and other required parties;
• Enforcement of all contract terms with regard to payment procedures; and
• Preparation of buyer and seller pre-closing and final closing statements. Escrow Agent obligations will be described and regulated according to terms and conditions contained in the final Escrow Agreement provided by Stewart Title.

How does Title Guaranty work?

Previously to the issuance of Title Guaranty, but before the closing date, Stewart Title shall issue a Title Commitment for each property with a validity term of ninety (90) days. This term can be extended by the Company, when requested by the proposed Beneficiary and until the issuance of the Title Guaranty.

In order to issue the Title Commitment, Stewart Costa Rica will execute a full title search utilizing its 30 point checklist. The Commitment will be issued within four (4) working days after the signature and execution of the Purchase and Sale Agreement between La Meridiana and its propsective buyers. La Meridiana will provide a copy of such agreement.

Stewart Title shall issue the Title Guaranties upon prior issuance of the Title Commitment and recommendation by Stewart Costa Rica, once the conveyance deed of the respective residential unit has been duly recorded at the Public Registry of the Republic of Costa Rica in the name of the respective purchaser and in accordance with the terms, conditions, restrictions and/or exclusions that it may deem necessary.