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| FAQS: Frequently Asked Questions |  |
| Q: Can foreigners own beach property in Nicaragua? | |
A: Yes. Nicaragua law does not have different property laws for locals and foreigners. Unlike in Mexico, a foreigner can own property on or near the beach in Nicaragua. Just as in the United States, the public has access to all beaches in Nicaragua below the mean high tide mark. This does not affect owners at Bahia del Sol, other than meaning you can go to any beach you want to swim. |
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| Q: Will I get a deed? | |
A: Yes. You get a deed to your unit. The common elements are owned by the unit owners collectively. |
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| Q: Is it safe to own property in Nicaragua? What happens if a communist government comes into power and decides to seize all land owned by foreigners? | |
A: There was a brief period after the overthrow of Somoza by the Sandinistas when some land was appropriated. Most Nicaraguans today would agree that this was a big mistake and should never happen again. The current President and the mayor of Suan del Sur have made many public statements pledging to uphold property rights of foreigners. In fact, some of the larger developers selling property to foreigners are members of the Sandinista party and strong supporters of foreign investment. In any event, your title will be insured by First American Title of Miami. This makes owning in Nicaragua just as secure as owning in North America. |
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| Q: If I participate in the rental program, do I have to put my unit into the pool whenever the operating company has a renter? | |
| A: No. You can use your unit at any time. The only exception would be if you told us to rent the unit and we are 100% full and you change your mind. Otherwise, we will put renters in empty units and owners in their own unit. | |
| Q: How far ahead can I reserve my unit for myself? | |
| A: Owners have first priority on use. You can reserve your unit as far in advance as you want. If we are not 100% full, you can also come at the last minute and use it. | |
| Q: If I am using my unit do I still get a share of the rentals? | |
| A: No. Rental revenue is divided among only owners who are not using the unit themselves. | |
| Q: Can I a friend or relative use my unit without paying rent to the Operating Company? | |
| A: Yes. It is your unit and you can have anyone you want stay in it. However, you must let us know in advance in writing and there may be a small charge for extra services if these are needed. | |
| Q: Can I split up my use and still get Law 306 benefits? | |
| A: Yes. You can stay as many times as you want and as long as you want at any time. As long as your unit is available for rent a total of at least 225 days a year you will qualify for the tax benefit. This means you can occupy your own unit for as many as 140 days in any year. | |
| Q: What about crime and security? | |
| A: San Juan del Sur is a small town. There is little street crime. The access to Bahia del Sol will be gated and there will be security on property 24 hours a day in addition to the staff. | |
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