The village is situated 15 km in the south from the city of Ružomberok, at the mouth of the rivers Revúca, Lúžňanka and Korytnica. The first written reference about Liptovská Osada was found in the document of the king Charles Robert from the November 14, 1340, mentioning a hermitage at the mouth of the rivers Lúžňanka and Revúca, close to the main road to the city of Zvolen. The village was an important crossroads. In the 18. century a post station was built here and after the year 1813 a stagecoach station was added. This important period in the village history is reflected in its coat of arms.
Other important historical monuments in the village are: the Roman Catholic church built in 1750 in the Baroque style and a church of a former Czechoslovak church of Hussits, which was built in 1929-1930.
In the village, there is a natural monument from the Triassic Age and a protected rocky formation Žiar.
NOTE: Korytnica administratively belongs to the town of Liptovská Osada.