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Secured lending in Costa Rica: movable collateral registry, mortgages and out of court enforcement

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Last verified: 2026-10-30 · Status: Stable

Ley 9246 (in force 21 May 2015) created a single online Sistema de Garantías Mobiliarias at the Registro Nacional where security over almost any movable asset, receivable or account is published by electronic form; priority runs from publication. Parties can agree out of court sale. Land is secured by mortgage in a public deed under the Código Civil, and registered mortgages and pledges are enforced in a fast foreclosure process with only three defences.

Key facts

Single online movable collateral registry	Yes, Sistema de Garantías Mobiliarias (Registro Nacional) textLey 9246 art. 41 and 42, as of 2026-10-30 · in force
Priority among movable security interests	First to publish in the registry textLey 9246 art. 49, as of 2026-10-30 · in force
Out of court enforcement of movable collateral	Allowed if agreed in the security contract textLey 9246 art. 57, as of 2026-10-30 · in force
Default term of a movable collateral registration	4 yearsLey 9246 art. 45, as of 2026-10-30 · in force

The rule

1. A movable security interest can be granted over any movable or right except road vehicles requiring registration (some special equipment and trailers are included), aircraft and other mobile equipment under treaties, intermediated securities under Ley 7732, and cash deposits where the depositary may set off.Ley 9246, art. 4, 2014-05-07 official text · verified 2026-10-30

2. The security is created by written contract (or by law, such as retention rights and judicial or tax liens); it must be registered in the Sistema de Garantías Mobiliarias to establish priority against other secured creditors.Ley 9246, art. 6 and 8, 2014-05-07 official text · verified 2026-10-30

3. The Sistema de Garantías Mobiliarias is a single national electronic registry, indexed by debtor, with standard forms entered without registrar review; foreign users can access it and the fee is set at cost by the Registro Nacional's board.Ley 9246, art. 41, 42, 47 and 48, 2014-05-07 official text · verified 2026-10-30

4. Registration lasts the term agreed, renewable within 15 calendar days before expiry while keeping the original priority; if no term is stated it lasts four years, renewable for four year periods.Ley 9246, art. 45, 2014-05-07 official text · verified 2026-10-30

5. Priority is set by the time of publication, which may precede the security agreement; published interests rank ahead of unpublished ones; labour claims and alimony keep their special priority.Ley 9246, art. 49, 2014-05-07 official text · verified 2026-10-30

6. Enforcement starts by registering an enforcement form, which is an executory title; the parties may agree in the contract on out of court sale or auction.Ley 9246, art. 9, 54, 55 and 57, 2014-05-07 official text · verified 2026-10-30

7. The law entered into force one year after publication in La Gaceta 95 of 20 May 2014.Ley 9246, Transitorio único, 2014-05-07 official text · verified 2026-10-30

8. A mortgage is created by public deed by the owner of real estate to secure its own or another's debt; only those who can sell can mortgage.Código Civil, art. 409 and 410, 1885-04-19 official text · verified 2026-10-30

9. Registered mortgages and pledges are titles for foreclosure with waiver of formalities; the court registers the claim from the start, the debtor may only object for lack of enforceability, payment or prescription within five days, and any deficiency can be pursued against other assets.Ley 9342, Código Procesal Civil, art. 166 to 170, 2016-02-03 official text · verified 2026-10-30

Worked example

A lender finances a distributor's inventory and receivables. It files the electronic registration form against the distributor's identification before disbursing (publication can precede the contract), so it ranks ahead of any later lender. On default it registers the enforcement form and sells the stock out of court as agreed in the contract, without a prior court case. A separate mortgage over the warehouse is granted by public deed and enforced through the Código Procesal Civil foreclosure process.

Step by step

Search the Sistema de Garantías Mobiliarias against the debtor's identification number.
Sign a written security agreement describing the assets and the maximum secured amount.
File the electronic registration form before or at disbursement.
Diary the renewal window, 15 calendar days before expiry.
Include agreed out of court sale procedures in the contract.

Common traps

Registered road vehicles are outside Ley 9246 and follow the Código de Comercio pledge rules.
The registry does not check content, so errors in the form are the filer's risk.
A renewal filed outside the 15 day window does not preserve priority.
Mortgaging land needs a notary deed and Registro Nacional registration; it is not filed in the movables registry.

Sources

← Interest rate caps, usury and loan terms in Costa Rica: BCCR maximum rates, microcredit, default interest and feesTrusts (fideicomisos) in Costa Rica: how they work and why lenders use guarantee trusts →

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