Belize Property Laws – Easy and Buyer Friendly!

Belize’s master-planned communities have ignited everyone’s imagination. In the same way, Belize’s property laws will surely live up to your expectations. They will not be an obstacle for you to acquire your property. Let’s briefly review Belize property laws before moving on to purchasing your property in Belizean paradise.

simple legal conventions

The title to your land is a formal document that serves as evidence of ownership. Land in Belize is broadly classified into two categories: Undeclared Land: The transaction made for this land must be registered with the title registry located in Belmopán (Cayo District). Declared land: The transaction carried out for these lands must be registered in the Property Registry located in Belmopan (Cayo District).

get your degree

The 3 different ways to acquire freehold title in Belize are:

Deed of Conveyance: The deed of conveyance grants a recorded right to ownership of the property. A Certificate of Title can be obtained from ownership of the conveyance through the first registration application.

A Certificate Transfer: This secure form of ownership is a physical title to a particular parcel of land. A bit expensive and slow, but very safe.

A Land Certificate: A Land Certificate is an absolute title that applies to property transactions in new or specially designated areas.

About the exercise of transfer of ownership

After familiarizing yourself with the legal conventions involved, it’s time to act. The exercise of buying in Belize is not tedious!

• To expedite the transfer process, you would normally have a Purchase Agreement/Contract. These documents do not play a significant role in the transfer process, but they do help to ensure that your transfer process is secure.
• After this, proceed to the Belmopan Land Title office to carry out Title search services for your property. If you have approached a real estate agent, they will perform this exercise for you. Here you will get access to all the information related to your property. Make sure the title you want accurately reflects your purchase.

Complete your form

The Purchase Agreement is to inform you about the authenticity of the land transfer process. The form summarizes the details of your contract. Must contain:

• The names and addresses of the parties.
• If there is more than one buyer, how the buyers will have an ownership interest.
• Clearly stated purchase prices in figures and words.
• The location and numbers of the parcel or registration of the Title.
• The amount of the deposit that is required from the buyer.
• A specific time is stated in the agreement for the buyer to complete the transaction.

After all this, the Transfer exercise ends in the following three activities.

· Obtaining the original Land Title.

· Release of the mortgage or release of a charge.

· Registration or registration fees and Documented Legal Acts.

at least out of your pocket:

· By going through all of the above processes, you are faced with some expenses that the Government of Belize has done its best to keep as low as possible.

· The buyer has to assume the minimum costs of registering the property, registration, leases, mortgages and miscellaneous expenses. 5% of the declared purchase price will be paid as stamp duty. The registration fee is 15 Belize dollars for the Title document.

              

There are very few problems dealing with Belize property laws. Each term and convention is written to provide a smooth flow for transferring land and property. You are sure to have a smooth trip while purchasing property in the wonderful country of Belize. Always deal with a reputable Belize real estate developer with a proven track record.