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Purchase Promise Contract
Normally, in a finite time, a contract is prepared prior to the sale of a property, the contract contains the characteristics of the property and the details of the negotiation are noted. In addition, the payment of a portion of the final amount is agreed as a sample of the willingness of the buyer to complete the transaction.
Our offices are responsible for drafting contracts of promise of purchase, as well as the proper investigation in the Public Registry of the Government of Panama about the ownership of the property that is to be purchased, we verify if there is any type of mortgage, lien or of any other type and confirm in detail what is the fiscal situation of the property.
Purchase Agreement
After the respective investigations on the negotiated property have been satisfactorily completed and both parties have agreed to finish the negotiation process, they proceed to draft the sales contract where the deeds of ownership of the negotiated property are transferred.
With the signing of this contract the final payment is made and it will be submitted to the Public Registry to carry out the transfer of title deed.
Lease Agreement
To lease your properties in Panama it is recommended that you create a lease contracts whether these are private, industrial or business assets. All contracts of this type must be governed by Law 93 of October 1973, which also includes the leasing of furnished rooms and apartments, only those that by their nature being leased per day being excluded.
At B & A Law Firm we can advise you on drafting contracts in Panama
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