While Cuba's laws and governing methods have not changed yet, many hope to see some unresolved conflicts finally resolved now that Fidel Castro has announced his retirement.
The country has nationalized property, therefore there are few areas where property is owned or invested in by foreigners. Yet some legal tensions are mounting.
Exiles who owned property there had the property seized by the Cuban government. Many lost this property in their homeland when they needed to leave quickly. Many lost this property nearly a century ago when the Cuban guerrillas entered the areas of Havana and took over.
As reported by Reuters, Nicolas Gutierrez, who is an attorney based out of Miami, has some 400 cases in which these former citizens are trying to get back or be compensated for this loss of property. He estimates that some US$8 billion worth of property was lost. There are currently 5911 claims that are pending with the Foreign Claims Settle Commission based in the United States against Cuba.
With Fidel Castro stepping out of his position this week, there is hope in the eyes of all of those that have left this property behind that they will now be able to obtain at least some value for it. Many also are looking to new economic relations with the country from a global view point.
