Guyana - utopialand/Utopia GitHub Wiki
View GUYANA on Wikipedia
Capital: Georgetown
Official Language: : English
Recognized Regional Languages: Akawaio, Macushi, Waiwai, Arawak, Patamona, Warrau, Carib, Wapishana, and Arekuna
Deeds and Commercial Registries Ministry of Legal Affairs
Mrs. Nicole Prince
Registrar of Commerce
Email: [email protected]
Ms. Geeta Baijnath
Acting Registrar of Commerce
Email: [email protected]
Mrs. Camille Johnson Barron
Deputy Registrar
Email: [email protected]
Telephone: (592) 225 4374
(592) 225 4309
Website: http://legalaffairs.gov.gy/contact-us
Address: Lot 1 High and Commerce Streets, Georgetown, Guyana
Contracts for sale and purchase of land Agreements for the sale of land must be in writing and signed by both the vendor and the purchaser of the land. The agreement should contain, at a minimum, the names and addresses of the parties, the agreed purchase price and the location and description of the property. Agreements of Sale are usually prepared by an Attorney-at-law.
A real estate agent may be retained to secure a purchaser for a property. In such an event the agent is paid, by the owner of the property, a percentage of the purchase price set out in the Agreement as a commission.
A contract for the sale and purchase of real property may be enforced by an action for specific performance of the contract on the terms set out therein.
- Immovable/ real property in Guyana is held under one of two forms of title:
- Transport- This is governed by the Deeds Registry Act
- Registered title/ Certificate of Title- Land Registry Act
The owner of registered land may transfer that land by an instrument of transfer. Upon the registration of that instrument the interest of the transferor becomes vested in the transferee. Every agreement of transfer must be signed by the transferee and the transferor.
Registered land is held under a Certificate of Title and the owner of such land is known as the registered proprietor.
A register containing Certificates of Title to registered land is maintained by the Registrar of Deeds and all encumbrances on the property are annotated on that Certificate.
At the request of any person a search may be carried out by the Registrar for information regarding the property, its owner or any encumbrances thereon.
The owner of transported land has as evidence of his title a document known as a ‘Transport’. The original Transports are kept in volumes by the Registrar of Deeds. All encumbrances on the property are endorsed on the face of the Transport.
Property held by Transport can only be passed before the court. The transfer of ownership of transported land, referred to as ‘passing’ transport, requires the services of an attorney-at-law who prepares, signs and files all the necessary documentation.
- The fees and charges payable on the passing of transport or the transfer of title to land in Guyana are as follows:
- Fees to the Deeds Registry- these are fixed at 2.5% of the value of the property and comprise 2% for stamp duties and .5% for conveyancing.
- Fees to the Inland revenue Department- theses are fixed at 20% of the profit made on the sale (Capital Gains Tax) that is, 20% of the difference between the value of the property as at 1991 and its current market value, exclusive of charges to surveyors and attorneys. If the property was owned by the vendor for more than 25 years prior to the sale then no capital gains tax is payable.
- Fees to the attorney-at-law- these are fixed by law at 1% of the value of the property.
Mortgages in Guyana are subject to Roman-Dutch law and mortgages secured by immovable/ real property must be executed and cancelled before the court.
There is no prohibition on the acquisition of real estate in Guyana by foreign nationals.
However, foreign companies registered under the Companies Act 1991 may hold property in Guyana only by licence of the President.
Source: http://www.un-page.org/countries/page-countries/guyana