Conduct pre-completion, title searches, and municipal charges search at the Office of the Registrar of Titles, Lands Department
Agency: Office of the Registrar of Titles, Lands Department (under Ministry of Lands)
The Municipality uses computers and can do this Procedure on the spot. The checking is made in the electronic database and also on paper (in case something has not been entered into the system). Requests can also be made by fax. The Lands Department manages 2 parallel systems: it manages titles on paper and also has an electronic database where all operations related to a title are registered (in particular titles and encumbrances). A company search can also be made to verify that the company has not been delisted.
Time and cost: 1 day, PGK 200
The documents must be stamped at the Internal Revenue Commission
Agency: Internal Revenue Commission
Once the documents have been duly executed and exchanged, must be stamped at the Internal Revenue Commission. The purchaser pays the stamp duty.
Time and cost: 14 days, PGK 21,651.52
Stamp duty rates table according to the property value (Stamp Duties Act 1952):
- Equal or less than PGK 35,000: PGK 5 or 2% of the property value, whichever is the higher.
- Between PGK 35,001 and PGK 70,000: 3% of property value.
- Between PGK 70,001 and PGK 140,000: 4% of property value.
- Above PGK 140,000: 5% property value.
Ranges do not accumulate.
Documents are lodged for the approval of the Minister for Lands at the Department of Lands
Agency: Minister for Lands, Division Land management
Once the documents have been stamped, the Division Land management, in the 2nd floor of the Minister of lands, receives the file for approval by the Ministry of lands. This division analyses if the land rents have been fully paid, and if the conditions of the lease have been approved (for example if the agreed improvements have been made). There are no physical inspections. The minister has one delegate that signs the files in the name of the minister, and another extra delegate could also be named.
Time and cost: 35 days, PGK 300
The transfer and the title documents are lodged for registration with the Department of Lands (The Registrar of Titles)
Agency: Department of Lands (Registrar of Titles)
Following completion of the sale of the property, the transfer and the title documents (i.e. the State Lease) are lodged for registration with the Department of Lands (The Registrar of Titles). Once the employees of the Land Department verify the transaction and summarize it in a preformatted page (worksheet), the Registrar of titles will approve the transaction. This transaction will then be typed in the paper titles (both in the title that remains in the Registry and the title kept by the owner – lessee). Since 1996, the transactions are inputted into an electronic system. This system is not accessible online. Note on the property registry: The registry uses a Torrens titling system and is centralized for the whole country. Titles are managed in paper. There is also a computer system that records the information, but the information is not available online. The transfer documents are not scanned and are not included in the system.
Time and cost: 22 days, PGK 200
