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you make it sound like "owning" beach land in nicaragua

I think Nicaragua over the past five years has moved to a similar type of law to the one you reference.  According to http://www.amcostarica.com/052906.htm it appears that the original maritime law to which we are alluding was passed in 1977, though I don't know what might have been the status quo before that.

Certainly you're right to remind buyers to be cautious in Costa Rica like elsewhere in Central America: the sellers might not be telling you the full story.

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