![]() The surface flaking issue only affected a small percentage of product manufactured at Trex’s Fernley, Nevada plant between 20, and sold in the western United States (Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Texas, Utah, Washington and Wyoming). Under the terms of the settlement, Trex replaces any decking boards suffering from the defect, and provides a portion of the labor payment to replace the decking. In 2010, a class action settlement was approved that provides for a comprehensive replacement program for any decking affected by surface flaking. If a homeowner notices evidence of flaking, they should contact Trex immediately and participate in the established replacement program. Trex strongly encourages homeowners in the western United States to closely examine their decks, particularly in high traffic areas, for any signs of cracking or peeling. Trex is issuing this reminder notice because it has received a small number of claims where badly flaking decking boards that had not yet been replaced broke. Trex has previously announced that a small percentage of decking boards manufactured at its Fernley, Nevada plant between 20 suffered from surface flaking due to a manufacturing problem. WINCHESTER, Va., July, 9 2013 – Trex Company, Inc., the world’s largest manufacturer of wood-alternative decking and railing products, is once more notifying consumers in 16 western states who may have purchased defective Trex decking product suffering from surface flaking to contact the company and receive replacement materials. These legal issues are not expensive, but they are time consuming and a good lawyer is necessary.Warns of Potential Hazard if Decking Not Replaced The process is likely to take up to a year or more. You may sell your concession for the remaining balance of the 20 years, setting your own price. If that contract is broken, it’s likely the lease will be revoked immediately.Īccess to private is equal, on a first come, first served basis. Every five years, the island will be inspected by a government agency to ensure compliance with your government contract. As long as you are faithful to the contract, the government will uphold its part of the bargain. ![]() Once a concession is granted, an island is yours for the duration. The Regulating Plan outlines the use of the island uses include tourism, residential, agricultural or reserve. A private Regulating Plan contractor is faster but more expensive than using the government. The process includes a Regulating Plan that covers every aspect of the island under consideration. If the concessionaire is a company, at least 50% of its shares must be owned by Costa Rican citizens. Foreigners applying for concession rights to coastal or island property must have lived in Costa Rica for five years prior to applying. If the land was previously concessioned, you will have to buy the concession from the owner for his price, then pay the yearly lease fee to the government. If you want more than that, you must apply for an additional lease.Ĭoncession rights mean you are paying the government for the right to use the land. Two thousand square metres is the limit on an island concession for private use. Concession rights begin after the 50-metre line. The first 50 metres of any beachfront are off-limits to private ownership. No one can restrict access or have a totally private beach. But Costa Rica’s democracy ensures that the public has the right to use all beaches, whether on the mainland or an island. These renewable leases are called concesiones. ![]() The good news is that with some restrictions, you can lease a private island for up to 20 years. The same is not true for private islands.įoreigners cannot buy islands in the territorial waters of Costa Rica. There are practically no restrictions on owning land in Costa Rica - your residence, or even presence, is not required to own land in Costa Rica. In Costa Rica, anyone can buy real estate and foreigners enjoy the same rights as citizens of the country. The country is democratic in all things, especially real estate. Costa Rica Foreign Ownership InfoĬosta Rica is a Central America success story. P in Costa Rica has special restrictions affecting foreigners because of the maritime-terrestrial zone which affects property fronting the ocean. Lush jungles, dense forests, rumbling volcanoes, endless coastlines and secluded beaches are just a few of the natural wonders of this Central American paradise. ISLANDS FOR SALE IN Central America Costa RicaĬosta Rica’s real estate has been booming for years and the country is a renowned destination for eco-tourism.
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