San Jose Costa Rica - According to an article published by Forbes Magazine on November 10, 2008, Costa Rica is facing more and more problems of land registration and property disputes because of a lack of a systematic land and property registration system.
In fact, many Costa Ricans and foreigeners call the Land Register office- Katastro, in spanish: "the catastrophe."
Trouble in Paradise
Jesse Bogan 10.22.08, 6:00 PM ET
Forbes Magazine dated November 10, 2008
Costa Rica is a retirement heaven--unless some squatters steal your landThe check from Banco de Costa Rica for $157,202 cleared in August. But after 12 years of legal wrangling it wasn't much consolation to H. Craig Carter and a small group of investors from Utah, who had hoped to turn their 180 acres in this Central American Shangri-la into luxury condos. In 1993 the group paid $50,000 for the dirt in hopes of spending another $12 million to develop Rincón Golf & Country Club Community. "They're not giving us a fair price on the land we own," insists Carter, 78, who with his associates has spent an additional $200,000 on travel and court fees. Based on the rise of property values in Costa Rica's Guanacaste Province, he argues the plot is worth $4 million and is hoping for additional compensation.
Read the whole article in Forbes
Photo Dirk van der Made
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