Property Purchase

Property Purchase

It is important to consult with an attorney when purchasing property in Belize. The process of purchasing property in Belize is not only complicated but it requires diligent title searches to be made to ensure purchasers that the property being purchased is not subject to any liens or encumbrances including but not limited to a registered mortgage or caution.

Common pitfalls faced by purchasers in Belize who fail to consult with an attorney include but is not limited to the following:

1. The property is not owned by the purported Vendor,
2. No title search is carried out,
3. A mortgage is registered against the title which prevents a transfer,
4. The taxes on the property has not been paid
5. Strangers are living on the property and are claiming rights to the property
6. There is no valid sale agreement governing the purchase and complications arise, and
7. There is an existing challenge to the title unknown to the Vendor.

In Belize there exist various types of land titles which include:

1. Deeds of Gifts
2. Indentures
3. Conveyances
4. Title by Prescription
5. Strata Titles (Condominiums)
6. The Torrens System-First Certificates of Title (FCTs)
7. Transfer Certificates of Title (TCTs),
8. Registered Land Title (RLA) and
9. Minister’s Fiat Grants or Leases.

Each of the abovementioned titles requires a different approach to register a transfer.