While we are on the subject...

I posted this information last year but for the benefit of those just tuning in to our regularly scheduled programming here it is:

Source: US State Department (Dominican Republic - Consular Information Sheet) September 14, 1999

"Investment Issues: Real estate investments require caution because property rights are irregularly enforced. Investors often encounter problems in receiving clear title to land, and title insurance is not available. Real estate investments of American citizens have been the subject of take-over attempts, either legal or physical. Squatters, sometimes supported by government or non-governmental organizations, have invaded properties belonging to U.S. citizens, threatening violence and blocking the owners from entering their property. Several U.S. citizens have longstanding expropriation disputes with the Dominican government and have not received compensation."

They would not have a problem if they hire a good lawyer to do the title search!

I have great confidence in the asociaciones de Ahorros y Prestamos they have legal dept. cheap, if there is a problem with the property they would not finance it, they have an insurance in case of death the property is paid and even though you pay closing expenses and others you save the tax. The interest?, at the present time 18% for new property and there is a dawnward trend. I think is high but for those that can produce dollars is not. You are sure to get your title once the loan is paid. For me so far 3 propertien no problems. Rafael Lopez.