Registering Property in Belize

This topic examines the steps, time, and cost involved in registering property in Belize.

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Property Value: BZD 382,907
City: Belize City

	Procedure	Time to complete:	Cost to complete:
1	Conduct a search of the property records at the Lands Department	1 day	no cost
*2	Obtain tax clearance from the Lands Tax Department	1 day (simultaneous with procedure 3)	no cost
*3	Tax clearance stamped on the transfer instrument	5 - 10 days (simultaneous with procedure 2)	no cost
4	Property is valued by the Valuation Department	10-30 days	no cost
5	Justice of the Peace attests the transfer instrument	1 day	no cost
6	Pay registration fees and stamp duty	1 - 2 days	15 BD x 2 (for land certificate and registration) + 5% (property value after the first BD 20000) (stamp duty)
7	Register the transfer at the Lands Registry	21 - 30 days	(paid in procedure 6)
8	Notify City Council of change in ownership	1 - 2 days	no cost

* Takes place simultaneously with another procedure.

Procedure 1.: Conduct a search of the property records at the Lands Department
Time to complete:: 1 day
Cost to complete:: no cost
Name of Agency:: Lands Department
Comment:: A search of the property records should be done at the Lands Department where the property is located, to check for encumbrances or liens.

Procedure 2.: Obtain tax clearance from the Lands Tax Department
Time to complete:: 1 day (simultaneous with procedure 3)
Cost to complete:: no cost
Name of Agency:: Lands Tax Department
Comment:: Tax receipts up to the current fiscal year are obtained at the Lands Tax Department. If the property is to be transferred before the fiscal year ends, the seller may pay the property taxes up through that date, and then the buyer agrees to reimburse the seller—either through the sale price or aside.

Procedure 3.: Tax clearance stamped on the transfer instrument
Time to complete:: 5 - 10 days (simultaneous with procedure 2)
Cost to complete:: no cost
Name of Agency:
Comment:: Tax clearance is proven twice: first with receipts, and second with a stamp from the Lands Tax Department on the actual transfer instrument.

Procedure 4.: Property is valued by the Valuation Department
Time to complete:: 10-30 days
Cost to complete:: no cost
Name of Agency:: Valuation Department
Comment:: The Valuation Department determines if the sale price in the transfer instrument is at least the true value of the property, according to their assessment. They assess based on actual rental value, and any factor having influence on this, such as: location, condition of the building, type and size, architectural design, parking area, garage or other buildings on the property. The valuation process may consist of checking the value listed in the valuation ‘Roll’, and/or physically inspecting the property. The Valuation Department will issue a receipt stating how much they have assessed, which is presented at the time of payment of stamp duty.

Procedure 5.: Justice of the Peace attests the transfer instrument
Time to complete:: 1 day
Cost to complete:: no cost
Name of Agency:: Justice of the Peace
Comment:: It is not required to have a lawyer draft the transfer instrument, but it should be either notarized (for a fee) or attested by a Justice of the Peace. Most people choose the latter option as it is free of charge.

Procedure 6.: Pay registration fees and stamp duty
Time to complete:: 1 - 2 days
Cost to complete:: 15 BD x 2 (for land certificate and registration) + 5% (property value after the first BD 20000) (stamp duty)
Name of Agency:: Lands Registry
Comment:: Registration fees and stamp duty are paid to the cashier at the Lands Registry. To pay stamp duty, the receipt from the valuation in procedure 4 is presented and 5% of the assessed value after the first BD 20000 charged.

Procedure 7.: Register the transfer at the Lands Registry
Time to complete:: 21 - 30 days
Cost to complete:: (paid in procedure 6)
Name of Agency:: Lands Registry
Comment:: There are three systems of land registration operating in Belize. The property in question is located around Belize City and is most likely under the Registered Land Act, whereby transfers occur by Land Certificate. Other properties may be under ‘deed of conveyance’ or ‘certificate of title’, in which case the transfer process would be slightly different.
In this case, the land certificate would need to be transferred at the Lands Registry in Belmopan, and would take about 3 – 4 weeks to process and receive a new certificate.

Documentation required:
-receipts of payment of registration fees and stamp duty
-transfer instrument
-proof of identification of the parties

Procedure 8.: Notify City Council of change in ownership
Time to complete:: 1 - 2 days
Cost to complete:: no cost
Name of Agency:: City Council
Comment:: The City Council updates the property tax records to reflect the new ownership.