law 2

Here you will find thoughts and information regarding the new land possession law - Law 2.

It was approved January 11, 2006 by the Panamanian Assembly and attempts to clear up any misconceptions regarding legal use, sale and transfer of ROP land on islands within Panama.

Law No. 2 ended the mechanism for the creation of new ROP lands on islands and in it’s place created the only legal means for gaining long term security over an ROP property and any possessory rights that you may be claiming. Paying the local owner who ’sold’ it to you is merely a mechanism to have him agreeable to de-occupy it. It is at this point that your lawyer begins collecting loads of paperwork in order to apply for a land concession from the real owner - the Panamanian government. After being granted a 60 year concession you will thus have the only legal instrument allowing you to do something with the property - build and live, sever and resell, open a business, etc.

Regarding this new law, titled land does not require land concession applications - It’s all yours! Free and clear.