{"investor_group_id":"1","date_received":"2026-02-27","question_original":"5. Enforcement practicalities in Costa Rica : Will a formal Costa Rican legal memorandum be provided covering:\r\n- enforceability of first-ranking mortgages,\r\n- priority vis-\u00e0-vis local creditors and tax authorities,\r\n- realistic timelines and procedural steps in both uncontested and contested scenarios?","internal_owner_id":"2","draft_answer":"Yes, a formal Costa Rican legal memorandum can be provided at closing.\r\n\r\nThe memorandum will be prepared by qualified local counsel and will address, in particular:\r\n- The validity and enforceability of first-ranking mortgages (hipoteca de primer grado) duly registered with the Costa Rican National Registry;\r\n- The priority of the secured creditor vis-\u00e0-vis other local creditors, including treatment in insolvency scenarios;\r\n- The position of secured creditors in relation to statutory claims (including tax authorities and labor claims, if applicable);\r\n- The procedural framework and realistic timelines for enforcement in both uncontested and contested foreclosure scenarios.\r\n\r\nUnder Costa Rican law, a properly registered first-ranking mortgage provides strong creditor protection. In the event of default, enforcement may proceed through judicial foreclosure, leading to public auction or asset realization. While timelines depend on court workload and whether the debtor contests the claim, typical enforcement periods range between approximately 12 and 18 months in standard cases.\r\n\r\nThe purpose of the memorandum will be to provide investors with a clear, jurisdiction-specific assessment of enforceability, procedural steps, and associated risks, ensuring transparency and legal robustness of the security package.","final_answer":"","status":"In progress","priority":"Medium","version":"V1 2026-02-27","update_date":"2026-02-27","linked_faq_id":"3","notes":"Ici l\u2019investisseur veut s\u2019assurer que l\u2019enforcement n\u2019est pas th\u00e9orique mais r\u00e9ellement ex\u00e9cutable dans la juridiction locale.","updated_at":"2026-02-27 11:38:27"}