Origen Panama Real Estate Consultants


Estate Law 2 of 2006:
Panama real estate law distinguishes between two kinds of property:
• titled property
• public or state owned property
Titled property is that property whose ownership, area, value, boundaries and details are recorded in the Public Registry of Panama. The Property section of the Public Registry contains a record system of all titled property in the Republic.
Public or state owned property includes all lands and territories owned by the Republic of Panama. These lands can be used in several ways:                                          

North and South America were divided by the sea, until the Isthmus of Panama was created three million years ago. It was the biggest and reportedly the most significant geological event in 60 million years. Prior to that date as the Earth's plates began to join, the Pearl Islands emerged from the sea. Indigenous tribes lived on many of the Pearl Islands, including Contadora, and Pre-Columbian artifacts have been found there. The biggest island in the chain is Isla del Rey where more than fifteen pre-Columbian recognized archeological sites of the “Cuevas” and “Cocle” cultures have been identified. However, none of the original population remains.

A Bill which will reform the Concession application process and requirements for island properties, is currently before the Economic and Finance Commission of the Panamanian Legislature.  A copy of the draft bill is available on the Legislative Assembly website. http://www.asamblea.gob.pa/actualidad/2005_P_132.pdf.  The second debate by the Commission on the proposed bill was held on October 6, 2013.