Best Mortgage Lawyers in Panama City

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Molina & Co
Panama City, Panama

Founded in 1980
8 people in their team
English
Molina & Co. Law and Business Strategy ConsultantsAt Molina & Co., we stand at the forefront of law and business strategy in the Republic of Panama, renowned for our leadership in corporate and legal consultancy. Our expertise is rooted in the comprehensive development and management of...
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Kraemer and Kraemer
Panama City, Panama

Founded in 2008
30 people in their team
Spanish
English
Portuguese
Kraemer & Kraemer is a law firm in the Republic of Panama, assisting companies and individual investors with establishing commercial operations in Panama, from basic to regulated activities, as well as general legal affairs within Immigration, Taxation, Business, Real Estate, Trademarks,...
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Founded in 2000
10 people in their team
Spanish
English
Kovalenko & Vera is a Panamanian law firm that stands out for its commitment and dedication to providing a personalized service to all its national and international clients, in terms of legal representation and advice.Kovalenko & Vera offers a range of legal services in Panama with the...
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PGS ATTORNEYS

PGS ATTORNEYS

15 minutes Free Consultation
Panama City, Panama

Founded in 2008
25 people in their team
English
Spanish
PGS Attorneys is a full-service law firm. The firm specializes in corporate and commercial legal services, immigration, real estate, litigation, estate planning, protection, and tax law. Their group also includes a realty company. Our legal practice includes areas such as: Real Estate Legal...
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MDU Legal
Panama City, Panama

Founded in 2002
English
Established in 2002 as Mizrachi, Davarro & Urriola, MDU Legal is a Panama-based law firm dedicated to delivering effective, efficient, and ethical legal services to both individual and institutional clients. The firm specializes in a broad spectrum of practice areas, including commercial...
Lamboglia Law
Panama City, Panama

Founded in 2022
50 people in their team
Spanish
English
Attorneys in panama with more than 30 years of experience. Specialized in immigration, civil, labor, environmental, corporate and real estate law.Attorneys in panama with more than 30 years of experience. Specialized in immigration, civil, labor, environmental, corporate and real estate...
Navarro Navarro & Associates
Panama City, Panama

Founded in 2000
50 people in their team
Spanish
English
Our goal at Navarro Navarro is to provide optimal results for our clients with the least amount of conflict. We are well known and respected for resolving complicated matters and saving our clients money and time. Our main priority is to pursue your rights and interests without having to resort to...
Attorneys-at-law Lombardi Aguilar Group

Attorneys-at-law Lombardi Aguilar Group

30 minutes Free Consultation
Panama City, Panama

Founded in 2006
5 people in their team
Spanish
English
German
French
Italian
Lombardi Aguilar Group is an international business law firm in Panama. The attorneys at our firm provide their clients fast, innovative and effective solutions to their business challenges. The firm provides services to individual and corporate clients in Panama as well as in the Americas, Europe,...
Studio Panama Italia
Panama City, Panama

Founded in 1989
56 people in their team
English
Studio Panama Italia stands as a beacon of comprehensive legal expertise in Panama, specializing in a wide array of services that include administrative law, business management consulting, immigration, real estate, and tax consulting. The firm's seasoned attorneys and consultants bring a wealth of...
Sucre | Arias | Reyes
Panama City, Panama

Founded in 1969
200 people in their team
Spanish
English
THE FIRMWe are the reflection of a living firm, in tune with the latest technologies, evolving and adapting to the needs of the current world and our clients. WE ARE AND WILL CONTINUE TO BE YOUR EXPERTS, WORKING HAND IN HAND WITH YOU.OUR HISTORYOur firm initiated operations in 1969 as SUCRE &...
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About Mortgage Law in Panama City, Panama

The mortgage law in Panama City, Panama has been designed to ensure that lending institutions like banks and non-banking mortgage lenders enforce the rights of consumers and lenders during the mortgage process. It regulates that the process of acquiring a house via mortgage is seamless, and protects the interest of both lenders and borrowers. However, the system is complex and often requires professional legal guidance to navigate.

Why You May Need a Lawyer

People usually require a lawyer in the field of mortgage law for several reasons which includes but are not limited to; foreclosure avoidance, mortgage loan modifications, irregularities or illegalities encountered in previous mortgages and the process of acquiring a new mortgage. A lawyer can help you understand the intricacies of Panama's mortgage laws, provide guidance on understanding contracts and legal documents, negotiate with lenders, and protect your rights in any legal proceedings.

Local Laws Overview

One key aspect of Panama's mortgage law is that there's no disclosure requirement for lenders. This means that the lender isn't obliged to provide the same amount of information about the loan to the borrower as would typically be required in other jurisdictions. Furthermore, Panama has what's referred to as a "speedy foreclosure" process whereby if a property owner defaults on mortgage payments, the home can be sold off rapidly to pay off the debt. There are also laws regarding predatory lending practices and the rights of tenants during foreclosures. All these makes it important to get legal advice before signing a mortgage contract.

Frequently Asked Questions

How long is the mortgage term in Panama City?

The mortgage term in Panama City usually extends up to 25 years for locals and up to 20 years for foreigners.

Can foreigners acquire mortgages in Panama City?

Yes, foreigners can acquire mortgages in Panama City, but it may require more documentation and sometimes, a larger down payment.

What happens if I default on my mortgage payment?

If you default on your mortgage payment, the lender can initiate a foreclosure proceeding. This could lead to your home being auctioned to retrieve the debt amount.

Can a mortgage in Panama City cover other expenses like renovations?

Usually, a mortgage only covers the cost of the property. Any renovations or additional work will need to be funded separately or through a separate home improvement loan.

What is a typical down payment for a mortgage in Panama City?

Down payments may vary, but it generally ranges from 10 to 30 percent of the property's value. This can be higher for foreigners.

Additional Resources

The Ministry of Housing and Land Policies in Panama provides housing services, legal advice, and resources to individuals seeking mortgages. Other organizations like the Panama Bank Association and the Mortgage Bankers Association of Panama can also offer useful information.

Next Steps

If you require legal assistance in mortgage in Panama, it's recommended to consult with a local attorney specializing in mortgage law. They should help you understand your rights and navigate any legal proceedings. If you believe you have been a victim of illegal practices such as predatory lending, consult with a lawyer immediately.

Lawzana helps you find the best lawyers and law firms in Panama City through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Mortgage, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Panama City, Panama—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.