What are Rights of Possession in Belize and why is this so important for me to know?
Boris Mannsfeld - Boris Mannsfeld & Associates
Title to real estate is very secure in Belize. You receive “fee simple”. The system Belize has is based on British Common Law. It’s super secure.
There are no squatter’s rights here. If you show title and there is someone on your land, the police will assure they depart.
They have title insurance in Belize, but virtually no one buys it, because it is not necessary.
There are no squatter’s rights here. If you show title and there is someone on your land, the police will assure they depart.
They have title insurance in Belize, but virtually no one buys it, because it is not necessary.
Title to real estate is very secure in Belize. You receive “fee simple”. The system Belize has is based on British Common Law. It’s super secure.
There are no squatter’s rights here. If you show title and there is someone on your land, the police will assure they depart.
They have title insurance in Belize, but virtually no one buys it, because it is not necessary.
There are no squatter’s rights here. If you show title and there is someone on your land, the police will assure they depart.
They have title insurance in Belize, but virtually no one buys it, because it is not necessary.
Posted December 1, 2014
Kate Corrigan - Caye International Bank
I work in banking but I did buy a restaurant here in Belize and I know many people who own property. You have to be very careful when you do buy something. What I usually advise people who come here is when looking at purchasing a property, once you find what you like, ask for the copy of the title. You get a title search done and notarized to show no encumbrances or liens on the property. That way, At least you are aware of any situations you need to be aware of and you can...
I work in banking but I did buy a restaurant here in Belize and I know many people who own property. You have to be very careful when you do buy something. What I usually advise people who come here is when looking at purchasing a property, once you find what you like, ask for the copy of the title. You get a title search done and notarized to show no encumbrances or liens on the property. That way, At least you are aware of any situations you need to be aware of and you can deal with it.
Also, make sure that the names on the title search match the name on the title. That is very important. If the property is held in the name of a company, which is another way to purchase property here in Belize, you need to get a certificate of good standing for the company showing the directors and shareholders of it to make sure that too matches the title. With that, you know who owns the property and that you are free and clear to buy it. With the person’s standing in front of you is the person named on the title, we would consider lending on that as a bank, too.
As a bank we need to see clear title. If it is in the name of a corporation, we need to know that the corporation is in good standing and the corporation has no liens or encumbrances against it, too. So while the property might have clear title but the ownership is in the name of a company, somebody might have a lien or a restriction on that company. We are very conscientious when it comes to our lending. We need to increase our loans portfolio, but we will only do it if the property is free and clear title.
Posted December 2, 2014
Gwido Mar - Grupo Mar Realty Ltd.
In Belize, there is no such thing as rights of possession. There is either titled property or there is leased property. Titled property is what you can legally sell. Leased land is what the government gives to a national. It is only given to Belizeans. Foreigners cannot own leased land. In Belize, any property that you need to transfer has to have a title. It is illegal for Belizeans to sell leased land to a foreigner.
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In Belize, there is no such thing as rights of possession. There is either titled property or there is leased property. Titled property is what you can legally sell. Leased land is what the government gives to a national. It is only given to Belizeans. Foreigners cannot own leased land. In Belize, any property that you need to transfer has to have a title. It is illegal for Belizeans to sell leased land to a foreigner.
(Belizean Prime Minister, Dean Barrow, pictured.)
Posted April 12, 2015
Bentley Wildman - Consejo Shores
All real estate here in Belize is fee-simple title. Once you buy it and you have the title, then it's yours. Nobody else can come and take it from you. No local person can make a successful claim. You get a clear title. (Pictured: house at Consejo Shores, Corozal, Belize.)
All real estate here in Belize is fee-simple title. Once you buy it and you have the title, then it's yours. Nobody else can come and take it from you. No local person can make a successful claim. You get a clear title. (Pictured: house at Consejo Shores, Corozal, Belize.)
Posted August 9, 2015
Victor Gomez
There aren’t really any rights of possession in Belize because when you buy a property, you get a clear title. Your rights are preserved forever. Now the only thing is that, if you bought national land, you have to build within a certain period, and if you don’t, they can take away the property or sell it to somebody else. So that would be the only restriction. If you buy land, you can get a title. There's no problem with that, and you can then sell your...There aren’t really any rights of possession in Belize because when you buy a property, you get a clear title. Your rights are preserved forever. Now the only thing is that, if you bought national land, you have to build within a certain period, and if you don’t, they can take away the property or sell it to somebody else. So that would be the only restriction. If you buy land, you can get a title. There's no problem with that, and you can then sell your property to anyone. There is no title insurance in Belize because it hasn't caught on yet. You can get it, but it's not 100% secure. It's not like in the United States.
If you don’t have an unlimited amount of money, and you want to buy an expensive house in Belize, we would recommend hiring a closing agent or an attorney who would prepare contracts for the buyers and sellers and all parties involved to sign and if anything would go wrong, then these contracts would protect the buyers. And before everything, the attorney or the closing agent would conduct a title search, to make sure the property that you are purchasing is from the person you're purchasing it from and that the current title is clean and clear and free of any mortgages or legal actions against it. We are confident about this. As a matter of fact, we actually provide the service. We are not attorneys, but we are closing agents and we provide that service.
Posted August 24, 2015