article on coastal Law

This is from an email sent to us by our attorney concerning the new Coastal Law....

A new Coastal Law has been approved by the National Assembly. This is a good thing for everybody because finally, Nicaragua has a law that regulates the legal status of the coastal zones.

One of the main issues regarding this law is the juridical regime that affects the coastal zones. In this regard, it is important to mention that article 4 letter A of such Coastal Law establishes that the coastal zones will be considered as of public domain, except for those zones in which there are ownership rights legally acquired previous the approval of the law. It is also important to mention article 19 of the Coastal Law which establishes the following: “The coastal zone of public domain is the area contained between the 50 meters counted from the high tide line. It is hereby established, however, that within this area all ownership rights legally acquired will be respected…”.

The aforementioned means that all ownership rights of individuals over coastal zones that were acquired prior the approval of the Law will be respected.

Also, another important issue is the status of properties that are being leased to the Municipalities. In this regard, article 63 of the Coastal Law establishes the following: "Any person that, by leasing, has possession of a Municipal property will have, at the end of the leasing contract, the preferential option of concession over such property..." A concession is an act by which the Government grants to a determined person, the usage and enjoyment of a determined portion of coastal land.

The impact of 'spurring investment' has a much nicer feel that 'expropriation.'

By Tim Rogers Nica Times Staff | trogers@ticotimes.net MANAGUA, Nicaragua – After years of uncertainty, speculation and exasperating lobby, Nicaragua's beleaguered private sector is exhaling in relief this week following the recent legislative approval of the long-awaited Coastal Law. Following an intense debate last week in the National Assembly, the Coastal Law was approved unanimously June 4. The law is meant to establish one clear set of rules and guarantees for land ownership and development of coastal properties, cutting through a century-old spider web of intertwined and contradictory legislation. The measure is expected to stimulate Nicaragua's once-budding investment and development sectors, which have slowed considerably over the past few years. There is an estimated $1 billion in coastal development projects on standby awaiting the law for clear rules on how to proceed. The law's expected ratification this week could come as a huge boost to Nicaragua's struggling economy by reactivating the construction sector and creating as many as 10,000 new jobs within the next year, according to industry leaders. See the June 12 print or PDF edition of The Nica Times, a publication of The Tico Times, for more on this story.

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