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Mary Ann daily
New member
Username: Mary_ann

Post Number: 1
Registered: 3-2008
Posted on Sunday, July 06, 2008 - 9:13 pm:   Edit PostPrint Post

Dear to all,
I am wondering what is a law in Argentina owning a property. My husband ( American ) and I ( filipino ) are looking for a best country to buy a property for our retirement.
We are thinking about Argentina....but we do not have any idea at all. Only we know is that the culture is different from us. Is anybody can tell us more about the country, can we own a property ( clean ownership ), can we live in Argentina or would it be difficult for us ( like language, as we do not speak spanish ), what is the best place or area to have a property ( country side but not too far away from centre or town.
More people to advice us is much better for us to know the country well. Thank you so much.
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Arial
Intermediate Member
Username: Arial

Post Number: 235
Registered: 10-2006


Posted on Monday, July 07, 2008 - 3:38 am:   Edit PostPrint Post

Dear Mary Ann, Welcome to the forum!

Foreigners can own real estate in Argentina in most areas of the country--except for certain areas near some borders that are restricted.

I strongly recommend that you read the sections of this forum that have to do with living in Argentina, investment in Argentina and so on. There is a wealth of information here and no need for us to repeat what is already here. After you have read all that, if you still have questions I am sure someone will be happy to answer them for you. Chaio. Arial
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WTMendoza.com
Advanced Member
Username: Welcometomendoza

Post Number: 269
Registered: 7-2007


Posted on Monday, July 07, 2008 - 6:33 am:   Edit PostPrint Post

Hi Arial and Mary Ann, foreigners indeed can also buy in the border areas, it is just more paperowrk, some more fees, and you get final title approval from the governement in 4 to 6 months, but you reeive a temporary title in the meantime.
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Arial
Intermediate Member
Username: Arial

Post Number: 236
Registered: 10-2006


Posted on Monday, July 07, 2008 - 11:43 am:   Edit PostPrint Post

Mendoza, I have such a hard time believing this after the excruciating disappointment that I went through in Bariloche.

You have written this before. Maybe I am just not getting it. However, a real estate agent in Bariloche, admitting that NO foreigner could buy there at the time, did encourage me not to leave Bariloche but to rent and wait because "In Argentina if you just wait two years everything will change." It has been two years so I am not ruling out what you are telling Mary Ann. But I am skeptical.

Do you mean you can "own" if you buy it in someone else's name or in a trust? (which I could have done then but thought it unwise). OR that you can in truth own the real estate yourself?

Also what about the problem that a seller is not going to want to wait four to six months for you to get permission? Sellers want to close and get their money. How do you handle that? Are you forced, again, to buy in someone else's name and hope nothing changes in the process--as it did for us.

Maybe you can clarify in clear yes or no terms. Muchas gracious.
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Simon Fawkes
Member
Username: Expatba

Post Number: 67
Registered: 1-2007


Posted on Monday, July 07, 2008 - 12:18 pm:   Edit PostPrint Post

Hi Arial

My understanding is that the rules relating to areas such as Bariloche are enforced/ignored by different administrations as they come into power, almost on a whim. This makes it hard to say exactly what the given situation is at any point in time. I'm aware of people in the past who have had no problems, and all of a sudden it does become a problem when new people take power. A later administration may not care and the situation could be reversed again.

All I can say is to monitor the situation closely on the ground to see what the current status is.

I hope this is some help.

Simon Fawkes
Author, The Complete Guide To Real Estate Investment in Argentina, ISBN 1430303980, http://www.amazon.com/exec/obidos/ASIN/1430303980
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Arial
Intermediate Member
Username: Arial

Post Number: 237
Registered: 10-2006


Posted on Monday, July 07, 2008 - 3:25 pm:   Edit PostPrint Post

Okay, Simon. this is my information as well. Which is what the real estate agent was telling me. It changes on the whim of whoever takes office at the time and their term lasts only so long and when it changes, everything changes including the secretaries! Getting used to dealiing with this system is not easy for someone coming from a country where there is a different rule of law.

Yes, it helps. It is confirmation. Perhaps it has now changed back. I don't know how Argentines handle such insecurity and instability. But some locals tell me they like it this way because it is always possible to get something done . . . one way or another. Perhaps I will like it too--if I ever get the hang of it!
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WTMendoza.com
Advanced Member
Username: Welcometomendoza

Post Number: 270
Registered: 7-2007


Posted on Tuesday, July 08, 2008 - 4:50 am:   Edit PostPrint Post

Hi Arial and Simon, I have never heard of such a thing and I deal with "Zona Frontera" all the time. In fact, there are clear laws on the books which deal with this topic, none that were modified by any recent administrations. What indeed has fluctuated is the lead time of the approvals, which have stretched out to over a year in some cases, over the last few years. There are very few cases of buyers not being approved, for example, like a controversial case in Neuquén where a foreign company wants to deforest lots of hectares of trees for a project, etc. But if you are just a Joe, wanting to buy land, and you are not a terrorist, convicted drug smuggler, etc..there has never been a case of denial, according to the Zona Frontera approval department in Recoleta, which I have visited several time personally myself and I have quality inside contacts there, nor have I heard of any denials on the ground here in Mendoza, where hundreds of foreigners have bought land in "Zona Frontera" just in the last 10 years alone. Arial, unfortunately, there are only a few select agents here that really understand Zona Frontera. In fact, it is the job of a good Escribano to understand and solve any issues. But even most Escribanos don't deal with this. Only a few select. No there is no escrow; you hand over the money well before final government approval, unless you have been able to negotiate something different.
There is a lot of misinformation out there on this topic, and it didn’t help that that guy from Escape Artist wrote an erroneous article on it several years back, based on his mis-haps in Bariloche, which is the source of much of this mi-information. These kinds of mis-haps do happen frequently to buyers, especially when they are mis-informed by non-informed agents and escribanos.
So, on the surface and on paper, it looks complicated an maybe not worth it, but once a buyer is looking at any given piece of awesome inside Zona Frontera, the mood often changes, and suddenly the extra steps seem to be indeed worth it, but you have to have quality representation who know what they are doing. Good luck.
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Arial
Intermediate Member
Username: Arial

Post Number: 238
Registered: 10-2006


Posted on Tuesday, July 08, 2008 - 6:59 am:   Edit PostPrint Post

Mendoza, we have discussed this before so no need to pursue it except to say that in my experience, Simon has it exactly right.

I am interested in what you wrote about the law re the Zona Frontera. Is it by chance available on the Internet? And can you post the web site if it is? Many Thanks.
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Simon Fawkes
Member
Username: Expatba

Post Number: 68
Registered: 1-2007


Posted on Tuesday, July 08, 2008 - 7:56 am:   Edit PostPrint Post

Just to clarify - the law affecting this hasn't changed, just the way different administrations interpret or enforce it.

Part of the law actually says something along the lines of "permits may be issued if it can be demonstrated that a purchase by a foreigner will benefit the local community".

"Benefitting the local community" is obviously open to a wide range of interpretations. To one person it may mean buying a house and spending money in the economy, to another it may mean something far more substantial.

Simon Fawkes
Author, The Complete Guide To Real Estate Investment in Argentina, ISBN 1430303980, http://www.amazon.com/exec/obidos/ASIN/1430303980
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Arial
Intermediate Member
Username: Arial

Post Number: 239
Registered: 10-2006


Posted on Tuesday, July 08, 2008 - 4:54 pm:   Edit PostPrint Post

This is good info, Simon. Have you read it yourself? And if so, where? I am not even sure that Argentina goes by the law anyway. It seems to me that everyone looks for the workaround and who you know makes a BIG difference. I am starting to get the idea about how it works (I think).

Your explanation is a little different from what they told me, but it sounds logical. Also it would support what Mendoza keeps saying. Perhaps there never was such a specific law, but nevertheless, I WAS part of a group of foreigners who bought right at a time when an "enforcer" had taken office.
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Mary Ann daily
New member
Username: Mary_ann

Post Number: 2
Registered: 3-2008
Posted on Tuesday, July 08, 2008 - 8:42 pm:   Edit PostPrint Post

Dear to all,
Thank you so much for all the informations helped us a lot. I am glad that we can find information and communicate with argentian people through forum like this.
We might be going to visit Argentina this coming December just to see and feel the country and people.
Once more thank you so much to all of you.

Mary Ann

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