Taxes on Land Inheritance?

[rapapo]

I have read that there is a transfer tax on property in Costa Rica when it is bought/sold.  Does anyone know if there is also a transfer tax when property is inherited?

[Russ]

Currently there are no capital gains or inheritance taxes on real estate in Costa Rica.  But you do have to pay in the registry in order to change the owner's name.  It is 5 colones for every 1000 colones in value.
National Registry Fees

So this brings up the question which value?  Many people donate the property before dying to their children, but reserve the right to use the property so in this case you can minimize the transfer taxes.  Also having property in a company name would eliminate the taxes, since the inheritance would be the shares of the company.  I was put on hold at the registry, but I am guessing that the transfer tax would be charged over the city's tax value in the case that the property was inherited. Although it could be possibly charged on the declared value in the registry.