Yes it is. The premise of the story is based on a crime that took place in the 1940's in Uragauy where two people were brutally murdered. There were picture take by the killer that were left at the scene of the crime. The crime was never solved.
The movie is a depiction of what might have happened that night, due to the fact so little information can be found about the actual events. The film is in real time so that the viewers feel the emotion with the characters in their fear.
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to certain extent the movie is true but the names of were changed and some of the events never happened so to your question it true but events were changed
It's fiction, but based around some real events.
even though the story is based on true events, the character is not real
The fourth Kind one is based on true events, yes. Bu the recordings in the movie I wasn't sure if they were real. The earlier Answer posted that Close Encounters of the Third kind was not based on a true story... it was based on a true story, different people and a different place, but it did happen.
yes it is based on a true story