Jardines de Ensuenos Newsletter July 14th - Secure Property Ownership


Just a short newsletter today on one critical issue that I usually bring up when perspective investors come here to Costa Rica to meet with us. Today I thought this to be a subject worthy of comment and your consideration in reviewing the ultimate big picture and your personal decisions.

"The Security behind Property Ownership" To me this is a fundamental issue of what are your rights when it comes down to the crunch where ever we may be discussing such fundamental issues but this of course more so comes to mind when one is considering getting out of their comfort/knowledge zone into an international real estate market. For many this is just too risky for them however as the following will demonstrate just maybe what we do not know is safer than what we think we know???

In reality Costa Rica is one of the most secure places on the planet to own property!!! So you might ask why??? Very simple it is entrenched into the constitution of this Republic that we all have a right "To own personal property" and this is without regard to nationality, creed or color. Incidentally while on this subject a short discussion on what a Constitution means here in Ticoland is more than worthy of mention. This Republic adheres to their constitution with an admirable vengeance and all new legislation must seek and receive the Supreme Court's Chamber IV (Constitutional) review and approval prior to it becoming law. Here just because some political hacks pass something it does not mean it will be so. This is not just a rubber stamp and I have witnessed The Constitutional Chamber modifying various acts where they offended the constitution before the Chamber will give their seal of approval to them. It will indeed be interesting as to how they view the new Free Trade Agreement what is called the TLC here once it makes it there. Several years ago a similar type of agreement with Canada did receive approval however that agreement did not require Costa Rica to make serious changes to any business structures here like publicly owned insurance, utilities or telecommunications which are viewed by many as sacred. I draw your attention to these constitutional issues as an interesting counter to what occurs in Canada where there is zip to guarantee the rights of personal ownership. Additionally now we see that the U.S. modern day political machine has little interest in paying any attention to the fine document drafted many years ago to protect people from unruly governments and to guarantee their security of person and belongings.
I have paid particular attention to this situation that has entered onto a slippery slope for those that value their liberties and freedoms. This was brought to the forefront of my attentions today, hence inspiring this newsletter in the first place, by today's newsletter from the Sovereign Society (www.sovereignsociety.com). For those that would like to get a better view of what is going on around the globe especially in the offshore market and to receive news without the serious bias and slant that most of the media presents to us as placebo "news" I highly recommend getting on their free newsletter list or becoming a member it WILL be most enlightening I am certain.



One of today's articles....

Is Your Property Really Your Own?

"No, not according to last year's Supreme Court ruling, Kelo v. New London. In effect, the Supreme Court ruled your property may or may not belong to you, depending on if developers want your land. Susette Kelo, of New London, CT, attempted to fight developers who wanted to seize her beloved pink cottage. And she lost in a historic 5 - 4 decision that effectively overruled Americans' historic authority over their private property. This decision gave developers and local governments the precedent they needed to seize any property for private projects. Local governments have actually threatened or condemned 5,783 properties since this ruling, according to USA Today. But there is some good news. This controversial ruling also inspired 25 states to enact laws to stop such seizures and Congress has considered a bill to stop federal economic funds from going to developers who use eminent domain. But no matter how many laws they ."

To me this is most disturbing trend when when a group of black gowned thugs can get together and decide amongst themselves, contrary to the founding principles of the country, what is yours and what is not yours. Clearly with this REALLLLLY BAD decision as well as the one from Baltimore last year you are no longer the master of your property anymore should you stand in front of economic development or the desires of a big developer that decides they want your property you are going to be out in the street with no recourse. Thank heavens this kind of thuggery simply CANNOT happen in Costa Rica without a rewrite of the constitution. Another interesting comparison to our situation here applies to those that have (foolishly in my opinion) chosen to buy property in Mexico. Under Mexican law when you are a foreigner you are at best second class in your ownership and you had best never come into conflict with a real Mexican citizen or corporation as you will loose. In fact their law guarantees that you will loose which is indeed a far cry from our situation here where you are on a completely equal footing with anyone, even Nationals.

Onto a lighter note our architect has advised us that with the final hurdles we have gone over we should receive our first building permits the first week of August so that we can finally move from design and concept stage to real action on the site. No doubt we are all anxiously awaiting for that great day.

Have yourself a great day.