Obtain clearance from National Water and Sewage Authority
Agency: National Water and Sewerage Authority
The lawyer sends a written request to the National Water and Sewerage Authority in order to obtain clearance that all water rates and taxes have been paid. It can take about 2 weeks in order to receive clearance from the National Water and Sewage Authority.
Time and cost: 14 days, no charge
Obtain tax clearance from Inland Revenue
Agency: Inland Revenue Office
This process is usually done within a day. The process involves the payment of any pending property transfer tax assessment, if any, and the property tax for the property. When documents are submitted to the Inland Valuation Division, the property is identified in the data base. Following this, the officer ensures that all Property Tax and Property Transfer Tax has been paid in full. Once this has been verified, the Tax Clearance Certificate is issued.
Time and cost: 1 day, no charge
Title search at the Deeds & Land Registry
Agency: Deeds & Land Registry
The lawyer conducts a search on the vendor’s title deed for the last 10 years, in addition to previous owners, going back as far as 60 years. The lawyer also searches the wills under the previous owner and any judgments against the property for the last 12 years. The search will provide information on parties, the land and if the property has any mortgages or liens. Since 2015, it is possible to conduct title searches online at http://www.elandregistry.gov.gd/. However, since the majority of titles have not been uploaded in the system yet, the title search is carried out at the Deeds & Land Registry Office.
Time and cost: 5 days, XCD 200
Lawyer prepares title deed
Agency: Lawyer’s office
The purchaser’s lawyer prepares the title deed and ensures that all rates and taxes are paid by the vendor. Water rates are paid to the National Water and Sewerage Authority, and property tax and property transfer tax are paid by the vendor to the Department of Inland Revenue, Ministry of Finance. The purchaser pays lawyer’s fees at this point.
Time and cost: 5 days, XCD 19,910.92 (1–2% property value)
Payment of transfer fee at Inland Revenue
Agency: Inland Revenue Office
Upon submission of the conveyance, the Inland Revenue officer would determine if the consideration declared represents a fair market value of the property being sold. If satisfied, the Property Transfer Tax is determined and paid
Time and cost: 1 day, XCD 65,369.73 (5% (property value minus $20000, exempted))
Execution of the deed at the lawyer’s office
Agency: Lawyer’s office
The deed is collected by the purchaser’s lawyer after registration and processing.
Documentation required:
- Original deed
- New deed (with stamps from procedure 7)
- Proof of payment of all taxes and rates relating to the property
- History of title
Time and cost: 1 day, lawyer’s fees paid in Procedure 4
Payment of Stamp Duty at the Deeds & Land Registry
Agency: Deeds & Land Registry
Duties under direction of Comptroller of Inland Revenue
The said duties shall be denominated and deemed stamp duties and shall be paid in and denoted by stamps and not otherwise, and shall, subject to subsidiary legislation from time to time made by the Minister, be administered under the direction of the Comptroller of Inland Revenue.
Time and cost: 1 day, XCD 13,273.95 (1% of property value)
Registration of the deed in the Deeds & Land Registry
Agency: Deeds & Land Registry
The deed is collected by the purchaser’s lawyer after registration and processing.
Documentation required:
- Original deed
- New deed (with stamps from Procedure 7)
- Proof of payment of all taxes and rates relating to the property
- History of title
Time and cost: 15 days, XCD 5 (EC $5 (registration fee))
