Interpreting How Escrow Agents Can Help You
If you require legal aid to arrange the buying or selling of an asset in Panama we would be happy to aid as your legal representative. Amass as much data as you can and then feel free to get hold of an Escrow Service
so we can aid you and answer any inquiries you may have.
Selling of Land Property Not Located in Panama – If the non Panama Real Estate is had by a Panama Corporation, the sale can be realized through an escrow in Panama by applying the employment of an Escrow Service. Escrow agents in Panama can serve escrow agreements even if the asset being dealt is not located in Panama as long as the owner is a Panama-located corporation. The shares of the stock, which permits one operate the corporation, would be shifted. This would give the buyer control over the properties of the corporation, more specifically in this case the real property possessed by the corporation. The deed of the property or the asset does not shift in the country where the property is situated since it is the corporation that possesses it. What changes is the ownership of the corporation. An Escrow Service can further define this issue to you. Ownership of Panama Corporations is not recorded in any registry or database and the government does not know who owns the corporations. There is also no demand to report switches in ownership to anyone in Panama.
Sales Agreement of Boats and Marine Watercraft in Panama – The same rules apply. For a certain boat which is owned by a Panama corporation, the sales event of such property can be forged with or without escrow. If applying escrow, it is well to try the aid of an Escrow Service. Once the sale is settled, the new proprietor of course gains control or ownership of said property. The enrollment of the boat stays the same since it is still titled to the corporation.
