Panama Title and Escrow, Inc.
Sunday, March 30 2008 @ 07:34 PM EDT
Contributed by: Don Winner
Our service staff will guide you through the procedures in making deposits, doing title searches on real estate, drafting buy / sell contracts, transferring real estate titles, creating a corporation or foundation, or even opening a personal or corporate bank account swiftly and easily. You will find that our brokerage bank account service staff is always willing to take the time to answer all of your questions and make sure that you understand all the details. In maintaining the mission of privacy, affordability, and fast service, we have kept our fees extremely competitive.
Purchase Contracts in Panama: We conduct Panama property title searches. Our attorneys review every type of Panama residential and commercial properties contracts. We provide our clients with a complete service for real estate title searches. Real estate title searches in Panama are completed by carefully researching the various governmental and private institutions to ensure that there are no claims, liens or encumbrances that could hinder the title transfer process.
Not only do we provide title and escrow services for residential and commercial properties; but also aircrafts, nautical vessels, automobiles, personal property collateral, transfers of corporate shares, and more.
The primary objective of PT&E is to offer Escrow Services to buyers and sellers of real property in Panama (or any other asset or service outside of Panama), and to handle the receipts and payments for these transactions.
For example: In the case of a real estate transaction in Panama, PT&E would receive the full payment from the Buyer, and at the closing, PT&E would disburse payment to the Seller, disburse payment to the Broker (for Realtor commissions, if any), disburse payment to the construction company (for property development, if any), disburse payment to the attorney (for legal work such as title search, buy/sell contract, title transfer, etc.), and disburse payment to any other party directly involved in the transaction that must be paid as part of the buy/sell agreement.
The primary purpose of an escrow service is to;
- Provide the seller with the assurance that the buyer has the funds to pay for the transaction, since the escrow company can confirm that the funds have been paid to the escrow account.
- Provide the buyer with the assurance that the property has had a proper title search completed, a proper buy/sell contract has been executed, and the legalities of the transaction have been met to protect the buyers interests.
- Provide the buyer with the assurance that the various parties involved in the transaction will be paid according to the buy/sell contract, so to avoid any after purchase claims.
Title Searches: The main areas that are researched are the following;
- Public Registry of Panama – Here the attorneys check to ensure that the property is registered to the name of the seller, or the sellers entity (corporation, foundation, or trust) and that there are no pending liens or encumbrances on the property. A copy of the public deed and all amendments to the public deed are extracted from the Public Registry, which are then researched and confirmed to be valid and authentic.
- Ministry of Economy & Finance – Here the attorneys check to ensure that the property has all property taxes paid up to date.
- Utility Companies – The attorneys check with the various utility companies to ensure that the property has all water utilities, electrical utilities, etc. paid up to date so that there are no future claims from the utility companies.
- Agricultural Reform Department – In the event that the property is not titled property, rather it is what is referred to as “Possession Rights” property (Propiedad de Derecho Possessorio), the attorneys research and confirm the Possession Rights Certification at the Agricultural Reform Department (the department that regulates government lands in rural areas that are granted ownership rights to those citizens or entities who have proven use of the land through a Possession Rights Certification).
Fast, friendly and affordable service: The professional service staff at Panama Title & Escrow, Inc. provides you with the most efficient escrow service to get your property transaction closed quickly and professionally. Unlike other law firms who offer escrow services as an “extra” service, when you deal with us, you are dealing with professionals who specialize in escrow services and have the professional experience and reputation to provide excellent service! Our staff of certified Panama accountants and licensed Panama attorneys are directly registered with the Panama Public Registry and can do title searches and set up corporations or foundations faster than most other providers.
Our service staff will guide you through the procedures in making deposits, doing title searches on real estate, drafting buy/sell contracts, transferring real estate titles, creating a corporation or foundation, or even opening a personal or corporate bank or brokerage account swiftly and easily. You will find that our service staff is always willing to take the time to answer all of your questions and make sure that you understand all the details. In maintaining the mission of privacy, affordability, and fast service, we have kept our fees extremely competitive.
Experience makes the difference. PT&E’s principles are based on the highest ethical standards. The accounting, legal and service staff of Panama Title & Escrow, Inc. brings a wide range of professional knowledge to our clients needs. Our staff is made up of certified accountants, attorneys, and qualified business professionals who are experienced in the escrow and real estate business and understand the international investment and asset protection strategies, providing our clients with the comfort and reliability they deserve.
PT&E provides you with 100% Security. PT&E provides you with 100% Security in your transactions to ensure payment to the seller, payment to the commissioned agent(s), payment to the attorney(s), or any other party involved in the transaction. We do not release funds to the related parties until all documentation is fully inspected and reviewed by our professional staff, and authorization is provided by our client.
PT&E has the connections you need. In light of today’s international banking regulations, policies, and anti-money laundering procedures, transferring large amounts of funds internationally by bank wire has become a major concern for property buyers. Banks are now regulated to the point that they generally require buyers and sellers to provide extensive due diligence documentation to prove origin of funds, reason for funds transfers, identifications of each party, references, etc. Panama Title & Escrow Inc. has established professional business relationships with our banks in Panama and in other jurisdictions, allowing our accounts to receive large deposits by wire transfer or US Dollar checks, necessary for our clients to complete their property or business transactions. These authorizations have been granted automatically for most all of our clients transactions, eliminating the inconvenience of having to present due diligence documentation to the bank to prove origin of funds, etc. In some cases, if the bank requests documentation on a particular transaction, we normally already have all of the documentation for the transaction on file prior to the deposit, so we can easily provide the information to the bank, eliminating the need for you to waste your valuable time sending this documentation to the bank.
We provide you with the following advantages:
- Reliable, quality service focused on providing you with the best escrow service and asset protection package available today.
- We provide everything you need to securely purchase real estate in Panama.
- High level of experience and credibility with an excellent reputation.
- Affordable escrow fees, closing fees, and incorporation fees.
- 100% security, anonymity, privacy and confidentiality.
- The ability to protect your assets, minimize taxes, and eliminate reporting requirements.
Get Started Today! Simply contact our professional service staff and provide us with your property or business transaction details, and we will provide you with the information you need to get your property or business transactions started quickly, efficiently, and professionally.
Contact Information: Panama Title & Escrow Inc.
- Telephone in Panama: +011 (507) 227-6645
- Alternate Number in Panama: +011 (507) 227-7485
- Toll Free Voice Mail / Fax (USA): 1-800-716-3452
- Note: If calling to Panama from the US or Canada, you must dial "011" prior to the country code (507).
- Via Email: firstname.lastname@example.org
- Visit Our Website: www.panamatitle.com
- Physical Address: Panama Title & Escrow, Inc., Calle 41, IPASA building, 3rd Floor, Bella Vista (in front of Grupo Los Pueblos), Panama City, Republic of Panama
- PO Box Address: Panama Title & Escrow, Inc., PTY 196, PO Box 025724, Miami, FL, 33102, USA