Greeting to all,
My wife and I are in the process of buying a beach front property in preparation for our retirement in a couple of years. I was told by the seller the property was deeded / fee simple title. After having a Nica attorney look over the sellers ownership papers, it turns out the property in actually a year to year lease from the government. No money has changed hands at this point. I have been told by the attorney that he has never heard of anyone's lease not being renewed, unless the leasee haven't paid their yearly property taxes. I have to say I'm more than a little nervice paying a fairly large some of money for a property and not holding title to it like we in the US. Does any one out there have one of these leases or any advice as to whether I should move forward on the lease property or continue to look for deeded beach front property?
Cheers,
Dave
