Skip to comments.Venezuela Decrees "All Properties Leased for 20 Years Will Be Sold to Tenants in 60 Days"
Posted on 04/04/2014 4:40:39 PM PDT by Vince Ferrer
Venezuelan president Nicolas Maduro proves once again the capacity for stupidity is virtually unlimited.
Today Maduro mandated that any properties leased for 20 years or longer will be sold to current tenants at government mandated prices, essentially confiscating all long-term rental properties.
Via translation from Libre Mercado, please consider Venezuela Expropriates Properties Leased More Than 20 Years.
Nicolas Maduro, president of the Republic of Venezuela decreed on Monday that properties leased for 20 years, will be sold to their tenants in a maximum period of 60 days. The National Superintendent of Housing says the lease countdown began on March 28.
In the event that the property owners refuse to sell their property, the Superintendent of Housing will impose a fine of 29,000 euros, which must be paid within five days. If the penalty is not paid in 5 days, the fine will more than double to 60,000 euros.
Property owners are totally defenseless, as buyers may propose bargain prices. Nonetheless, owners shall comply with the "fair value of the dwelling" determined by the government via a form which shall provide, among other things, photographs of both the housing and the façade.
Once completed, the owner must wait for the government determined "right price" estimated by the superintendent for housing.
Venezuela needs a revolt like Maduro needs a hole in his head.
Expect a rash of fires in ~50 days. . .
Next, "The Official Language of Venezuela Will Be Swedish."
This is why I don’t own real estate n any foreign countries. Mine today, theirs tomorrow.
Coming to America? That redistribution of wealth is hip man!
They can always buy new profitable property in Detroit!
How short sighted can people be - now everyone who has been in a house for 19 years is going to find their stuff out on the street and people will only do shorter term rentals or if they try to crack down on that no one will have a rental property and everyone will want to sell off - the price of houses will plummet but so will the possibility of getting a rental when you need one. New housing will also drop off as a result meaning the industry will not be hiring - welcome to communist Disneyland!
ACORNeconomics. Just like our Marxist.
Ah, you should LEASE foreign property, then. Later when the communists seize it from the legitimate owners, it’s yours!
The Bolsheviks did this same trick to the peasants, then shortly afterward seized the land from them.
VE HAVE SPOKKEN
So.... Venezuela needs hard currency like Euros.
“Furthermore, all children under 16 years old are now... 16 years old!”
This guy is going to be shot. Insanity!
That's what the landowners have to give to the government. He is running out of foreign reserves, even though they used to be an oil exporter. He is desperate for foreign cash.
Why don’t the richest in Venezuela beg/pay Anonymous to take down the government’s internet and utilities, and pay the military a 2 million dollar reward to kill the Manure-o? Maybe a pilot can steal a plane and blow up the presidential palace... Or crash it Kamikaze-style, and have his family get set up with $$$ for life...
Marxists in this country are going to be demanding the same.
How much for a one-room cardboard shanty?
Between you and me I did pretty well this year in my looting and liberating etc.
How much for a one-room cardboard shanty WITH a tree?
Maduro and Soetoro must have attended the same economics class—Marxism for Dummies.
“That’s what the landowners have to give to the government. He is running out of foreign reserves, even though they used to be an oil exporter. He is desperate for foreign cash. “
I worked for a large energy engineering and construction firm, and we built refineries in Venezuela.
I didn’t go there, but friends of mine did. They said it was an okay place in the 70s and 80s.
Met a 30ish female from Miami a few weeks ago. Actually she is originally from Venezuela, but her whole family got out. They are educated, professionals.
She said it is like Cuba in the 1950s with the educated elites getting out if they can.
She was gorgeous, btw—Spanish, not El Indio. And her Spanish sounded different from the Mex-talk I am used to here in SoCal.
It’s actually a smart move by Maduro. It creates a new class of people who will want to keep him in power, because if he’s removed by a conservative party who is likely to reverse the decree, the renters are out.
“This guy is going to be shot.”
No, he’ll just leave Venezuela and move to Connecticut and be elected to the U.S. Senate.
“We’re creating... an ownership society in this country, where more Americans than ever will be able to open up their door where they live and say, welcome to my house, welcome to my piece of property.” —President George W. Bush, October 2004
In Hawaii, we have had an expropriation law like this on the books since the Sixties (the “Land Reform Act”). It was upheld by the U.S. Supreme Court, thus effectively leading to the end of the Fifth Amendment protections against condemnation.
In order to ensure proper hygienic habits amongst the proletariat, all comrades will now wear their underwear on the outside of their trousers so that teams of roving government cadres may more easily inspect the underwear and make sure that it's clean and changed everyday.
Back when Woody Allen was still funny.
Decreeing stuff is fun, when you’re the king. OTOH, he should remember Ceaucesceau.
I wonder if Venezuela is part of those “emerging markets” that the stock hustlers are always talking about.
Venezuela would have done better by teaching many of its people to build their own homes—an activity that is effectively illegal in the U.S.A. now for most who are willing to do the actual, hands-on work (regulations, fees, taxes, etc.). Instead, Venezuela continues the push-pull between communism and fascism. That’s what our own nation is sliding toward with leaders not long descended from Europe.
Or Brazilian, Argentinean, Chilean, etc. dream.
Our Presidente. He drife a bos.
The American left would love to do this. Except for their property of course.
This kind of stuff will eventually happen in the United States with all of the immigrants who will get citizenship and demand that the politicians make it happen.
Obama should enter an executive order and nationalize all private properties in the USSA. He has a pen and a phone. just do it.
If limitless immigration and child bearing continues, your property won't be safe here, either.
The courtesy of recognizing private property doesn't always extend across ethnicities and races.
Something like they are doing about the Ukraine.
Who said that Communism was a failure. Maduro, Correa, Morales, Cerna and Ortega all got elected presidents of their countries in reasonably free elections.
They just play a smarter and dirtier game than we do, and that IS WHY WE ARE LOSING.
Somebody please off Maduro and get the ball rolling for freedom in the Western Hemisphere?
I can’t leave the future to the reds. My grandchild would never forgive me for doing that.
And once again, Maduro continues Venezuela’s free-fall into the abyss.
Stupid, bus-driving motherf*****.
To #15: I see Obama’s Kenyan half-brother’s paper shack.
Third from the left of the Blue House. It has a photo on it quoting Pres. Obama as saying “Yes I did”.
You don't own any property here either. Just don't pay taxes and see who shows up to claim 'your' property.
Peope in Chichago will have their 'rent' (taxes) doubled to pay for the (exorbitant) wage and pension benefits of the DEMOCRAT union and public employees unions.
Not a lot of difference, eh?
I have been a proponent of the primary residence (homestead) being 100% exempt from taxes and eminent domain, thereby taking the government out of the picture in terms of seizures of the homestead.
I say that all the time.
Is there a reason why Obama can not do this in the USA ?
“ACORNeconomics. Just like our Marxist.”
I believe it is called “fundamentally transforming a country”
“This is why I dont own real estate n any foreign countries. Mine today, theirs tomorrow.”
What makes you think this is not true in the USA.