Argentina: Supreme Court Fast-Tracks a Case on Agricultural Land

On Wednesday 7 October, Argentina's Supreme Court fast-tracked a case that includes a request for an interim measure to reinstate the limits on foreign land ownership, which were removed by presidential decree. It shortened to 24 heures, instead of the usual 72, the deadline for challenging two substitute judges, without explaining the "special circumstances" it cited.

The three sitting judges were unable to agree on how to proceed, yet a decision requires three votes. Two judges from other courts were therefore chosen by lot. The case was brought by an environmental association, two Indigenous communities and a provincial legislator, who want to know whether the previous week's decision also covers their action, which is based on environmental protection and Indigenous land rights.

The 2011 law limited foreign ownership to 15 % of rural land, both nationally and in each province and municipality, with no more than 30 % of that share for a single nationality. A foreign owner could not hold more than 1,000 hectares in the central agricultural zone. The December 2023 decree repealed the entire law. The courts had suspended its effect since January 2024.

On 29 September, the Supreme Court overturned the appeal ruling that had blocked the repeal, finding that the plaintiff association lacked standing to bring the case, without ruling on the constitutionality of the decree. In practice, the limits no longer apply. According to the registry, foreigners held 13,26 millions of hectares, or 4,97 % of rural land, based on data updated in August 2025.

Today, no cap applies to purchases of agricultural land by foreigners. However, an interim measure from the Court could reinstate the former limits at short notice. It is unclear what would happen to acquisitions made since 29 September if the cap returned. The land registry's website still indicated on Thursday morning that the limits were "in force", which adds to the uncertainty for any transaction signed now.

On the political front, the president's party is looking at ways to reinstate a limit, through a separate bill or a chapter of a text on private property. Opposition lawmakers have called a special session for 15 October to overturn the decree, but acknowledge that they are at least 10 lawmakers short of a quorum.

The source does not say when the Court will issue its decision or whether it will grant the interim measure. It states that the 7 October step is procedural: it does not reinstate the cap and does not rule on the constitutionality of the repeal.

The registry does not publish holdings by nationality, so the share held by American investors or other nationalities is unknown. It is also unknown what the president's party will propose, if anything.