Foreign National Investors'
Important Information – Feb. 2011

FOREIGN NATIONAL INVESTORS NOW CAN SAY, "THERE IS JUSTICE IN MEXICO."

NOW THEY CAN CHANT, "ˇSÍ SE PUEDE! (YES, WE CAN!)"

by Enrique (Henry) Saldana


After a long struggle in the courts, and with the uncertainty that the history of Mexican courts predominantly have, 15 foreign nationals (American, Canadian, German/Spanish and a South American, among them) have finally seen "light at the end of the tunnel."  They have won their first court case to recover their deposit and also get compensated for damages and non-performance of contract on part of a developer.

Well over 12 months ago, they embarked on a court battle against one of the top developers in the area—a company that had already created a reputation for not respecting even its own partners in the business. They had fought over two years in a power-struggle, nonsense battle over the control of their development, causing the delay of the completion of the project and thus hurting the investment of all the purchasers, who had invested in the project.

This company lost their power-struggle battle against their former 50/50 ownership partner and had to settle outside the courts with them. They still kept lying to most of them, promising they would receive their deposit return if they so decided, and after they finally finished the project, began to push them into closing on their properties.

However, several of these initial purchasers, who were not satisfied by the delays and business practices of this developer, initiated a court case litigation against this developer and, against all odds, for they were always told that in Mexico there is no justice or that justice gets bought, believed in their faith and, knowing they were right, stuck together and fought.

Contrary to everyone's beliefs, on Friday, February 11, 2011, they saw the first reward of their efforts, when the first case presented against the courts was awarded favorably to the litigant, thus creating a precedent that should facilitate the rest of the cases to be awarded satisfactorily in their favor.

This court decision is very important for it not only sets a precedent for this particular case, but for all future similar cases that might occur in Mexico. And I say in Mexico, because the courts that have awarded this case in favor of the litigants were at the Federal Court level, and therefore the cases will take a national level precedence. It will help provide a further legal recourse for foreign nationals who may face future real estate contract disputes.

These cases will also help clean the bad image created by previous cases and bad business practices by a few unscrupulous real estate professionals and/or practitioners that have tarnished the practice of real estate in Mexico for a long time.

We congratulate all of these mavericks who believed in someone that helped them believe in a legal system everyone else thought did not exist for the foreign nationals in Mexico, and will now help others believe there is justice in Mexico, after all.

ˇˇˇSÍ SE PUEDE!!! (YES WE CAN!!!), the traditional chant in Mexico, was brought to the national scene by César Chávez in the Farm Workers struggle in the USA, and then used by President Obama in his race to the presidency of the United States of America. It is now chanted by these foreign nationals in Mexico, who have set a new precedence in Mexican Real Estate Law that will help set new practice standards in the industry, or so we hope.

This article is courtesy of Enrique (Henry) Saldana, Mexico Realty Solutions. 

Office: (984) 147-0100, Cell: (984) 111-8743

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www.mexicorealtysolutions.com/

 

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