Title Insurance:

Title insurance is available in Panama, and simply applies the principal of insurance to your real estate transaction, by protecting you against loss or damages associated with title defects, which can result from the following:

• Fraud
• Mistakes in recording of legal documents
• Forged deeds, releases or wills
• Deeds by persons of unsound mind
• Deeds by minors
• Deeds executed under invalid or expired powers of attorney
• Undisclosed or missing heirs, including spouses

Title insurance can be issued after a complete and thorough title search, which is generally performed by an attorney. Title insurance generally runs about 1% of the value of the property to be insured.

Health Insurance:

There are several types of health insurance plans with both national and international coverage available in Panama. Deductibles and limits must be determined on a case by case basis but generally fall within the following parameters:

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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:

• By an individual or company once administrative concession has been granted.
• For agricultural purposes once Right of Possession certification has been granted by the Ministry of Agriculture. Law 2 of the year 2006 acknowledges recognized Right of Possession land as possible subject for concession.

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