Winter 2003, Vol 28, No 1
Abstract: NAFTA (or the “Agreement”) is the most important factor to consider in analyzing any cross-border real estate transactions. The Agreement was executed by the United States, Mexico and Canada on December 17, 1992, and became effective on January 1, 1994. The Agreement is a comprehensive, multi-layered document which institutes numerous structures, guidelines, and rules relative to trade between all three countries. The objectives of NAFTA include the elimination of trade barriers, heightened investment opportunities, and the promotion of fair competition. Investors under NAFTA (e.g., “persons” who are nationals of a NAFTA country) have broad assurances against governmental interference and profit expropriation.