For a few months now, the Prosecutor's Office has been notifying the occupants of the properties that adjoin the Parque Nacional de la Justicia that they should return their properties without any payment, arguing that said properties are property of the nation under a 1907 decree (Porfirio Díaz) where an extension of land of 5,000 hectares that went from Cuajimalpa to Chapultepec (including Santa Fe area) was declared as a reserve for public use and forests. It is important to note that said decree was repealed three times in the years of 1919, 1951 and 1992.
In this context, it is very possible that the authorities continue with the notification processes both to the developers and the current owners, who, in many cases, have a public deed duly registered in the public registry. As of today, the Prosecutor's Office has already managed to return a gas station and some adjoining properties. As for residential buildings, none are yet known to have been returned. It is worth mentioning that the procedure of the FGR does not qualify as an expropriation as such, since there is no consideration or a cause of public utility is accredited.
Is there any defense mechanism on the part of the owners of these properties?
Undoubtedly there are defense mechanisms and there are various legal instances that protect the rights of the owners. Jorge Triana, deputy of the National Action Party, has shown that there are suitable means of defense to safeguard the rights of the holders and suggests not postponing the start of the legal actions that proceed. The foregoing assumes that both the developers and the owners of the apartments attend to any notification in this regard, since otherwise, omitting to attend to said notifications would result in the possibility of losing the right to defense.
So EVERY property in Santa Fe will be affected in some way?
No. Although the Porfirian decree considered 5,000 hectares, to date, the Prosecutor's Office intends to recover only the properties that adjoin the Parque Nacional de Justicia and that go from the diversion of the federal and toll road to Toluca and to the tunnel that connects Santa Fe with Bosques de las Lomas.
What implications do these acts of the FGR have on the real estate market?
Without a doubt, it is something that significantly affects the Mexican real estate market and the perception that one would have of Mexico in general. The concepts of private property and rule of law are two fundamental elements that provide the necessary certainty to trigger both national and foreign investment. If the actions of the Prosecutor's Office are successful, these practices could be extended to other areas of national economic activity, which would deeply damage the country's image abroad and significantly affect its economic development in the short and medium term. From the perspective of the FGR it will not be easy either; 10 buildings representing at least 3,000 apartments were developed on the properties that they want to be returned to them, over which an individualized legal battle will have to be fought with people who will do everything possible to preserve their heritage.
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