{"id":120628,"date":"2025-12-11T11:46:22","date_gmt":"2025-12-11T11:46:22","guid":{"rendered":"https:\/\/my.legal500.com\/guides\/?post_type=comparative_guide&#038;p=120628"},"modified":"2025-12-11T12:13:26","modified_gmt":"2025-12-11T12:13:26","slug":"turks-caicos-real-estate","status":"publish","type":"comparative_guide","link":"https:\/\/my.legal500.com\/guides\/chapter\/turks-caicos-real-estate\/","title":{"rendered":"Turks and Caicos: Real Estate"},"content":{"rendered":"","protected":false},"template":"","class_list":["post-120628","comparative_guide","type-comparative_guide","status-publish","hentry","guides-real-estate","jurisdictions-turks-caicos"],"acf":[],"appp":{"post_list":{"below_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Stanbrook Prudhoe<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2024\/01\/Stanbrook-prudhoe.jpg\"\/><\/span><\/div>"},"post_detail":{"above_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Stanbrook Prudhoe<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2024\/01\/Stanbrook-prudhoe.jpg\"\/><\/span><\/div>","below_title":"<span class=\"guide-intro\">This country specific Q&amp;A provides an overview of Real Estate laws and regulations applicable in Turks and Caicos<\/span><div class=\"guide-content\"><div class=\"filter\">\r\n\r\n\t\t\t\t<input type=\"text\" placeholder=\"Search questions and answers...\" class=\"filter-container__search-field\">\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\r\n\r\n\r\n\t\t\t<ol class=\"custom-counter\">\r\n\r\n\t\t\t\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What is the main legislation relating to real estate ownership?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The main legislation in the Turks and Caicos Islands (TCI) relating to real estate ownership is the Registered Land Act (CAP 9.01).<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Have any significant new laws which materially impact real estate investors and lenders come into force in the past year or are there any major anticipated new laws which are expected to materially impact them in the near future?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>There have been no new laws affecting real estate investors in recent years.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How is ownership of real estate proved and are ownership records available for public inspection?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>All land in TCI is registered with the TCI Land Registry. Ownership of land in TCI is proved by producing\/inspecting a copy of the land register which is maintained by the TCI Land Registry.<\/p>\n<p>The details set out in each land register are guaranteed by the TCI Government which means that if there is a mistake on a land register that results in loss to the person relying thereon, the TCI Government will indemnify the loss.<\/p>\n<p>Anyone can apply for a copy of the land register.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any restrictions on who can own real estate, including ownership by any foreign entities?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>There are no restrictions on foreign individuals owning real estate in TCI, however, where land is being held by a corporate entity, it must be a TCI registered entity.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What types of proprietary interests in real estate can be created?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Freehold title can be created and obtained over real estate and the proprietor of said right will be registered on title.<\/p>\n<p>The Strata Titles Act provides for the registration of a strata plan over land, where individual strata lots (each with their own title number) are created, and any remaining land in the strata plan being \u2018common property\u2019, owned by the strata corporation. Strata titles are the preferred tenure for condominium developments.<\/p>\n<p>Leasehold title can also be created on the registration of a lease with the TCI Land Registry (all leases for a term of over 2 years must be registered). Upon registration, the lease is recorded as an incumbrance on the freehold title and a new leasehold land register is opened.<\/p>\n<p>Title obtained can be absolute or provisional. Absolute title conveys absolute ownership to the proprietor with all rights and privileges of the land, whereas provisional title conveys to the proprietor title that is subject to specified qualifications.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is ownership of real estate and the buildings on it separate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Under the Registered Land Act, land includes any building and permanent fixtures on it. Therefore, owning land in TCI also gives ownership to any buildings and permanent fixtures on the land.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are common ownership structures for ownership of commercial real estate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Commercial real estate is typically held by a company (which must be a TCI company). This company can then be owned by individuals or a foreign corporation.<\/p>\n<p>For complex operations, a TCI holding company is commonly incorporated to hold the assets while a TCI operating company is incorporated to manage the business operations.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What is the usual legal due diligence process that is undertaken when acquiring commercial real estate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Title documents will be reviewed, along with any instruments registered on title which would benefit and\/or affect the use of the property such as easements, charges, or restrictive agreements etc. Enquiries would be raised with the seller\u2019s attorney particularly in relation to unregistered interests (overriding interests) and the state of the property and any buildings on it. Searches can be made with other governmental bodies if necessary and a survey of the boundaries property is typically agreed for handing over to the purchaser on or before closing.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What legal issues (if any) are outside the scope of the usual legal due diligence process on an acquisition of real estate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Some rights over land are unregistered and so would not be revealed in a search with Land Registry. These include rights of way subsisting at the time of first registration, rights of compulsory acquisition, leases for a term of 2 years or less and periodic tenancies, rights of occupiers of the land etc.<\/p>\n<p>The purchaser\u2019s attorney usually requests as a closing deliverable a declaration confirming that there are no overriding (unregistered) interests over the land.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What is the usual process for transfer of real estate, and when does liability pass to the buyer?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The parties enter into a sale and purchase agreement for the land and agree the closing deliverables and other terms of the sale\/purchase. For a transfer of land to be effected in TCI, a transfer instrument must be registered at the Land Registry. The instrument takes the form of a Deed of Transfer and is executed by the parties (seller(s) and purchaser(s)) and delivered to the Land Registry for registration, usually in triplicate. There is a registration fee of $25 per parcel of land being transferred. Stamp duty is paid on the consideration for the purchase and the stamp duty rates vary depending on the value of the consideration paid, and the location of land (there are different stamp duty rates depending on which island within TCI land is located). Contractually stamp duty is typically paid by the purchaser. Note that the Stamp Duty Act makes both the vendor and the purchaser jointly and severally liable for payment of stamp duty.<\/p>\n<p>Liability passes to the purchaser on completion of the transaction (at closing).<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is it common for real estate transfers to be effected by way of share transfer as well as asset transfer?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Where land that is being sold is owned by a company that exists purely to hold that land, the sale can be structured as either a sale of the land itself or a sale of the shares in the company. The latter is commonly preferred for a simpler registration process and a more advantageous stamp duty rate.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">On the sale of freehold interests in land does the benefit of any occupational leases and income derived from such lettings automatically transfer to the buyer?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The purchaser of land takes the land with the benefits of any rights and subject to any incumbrances registered on title. This includes leasehold interests where vacant possession of the property is not required on closing. Registered leases will remain on title until they are removed (either following effluxion of time, or surrender).<\/p>\n<p>As such, the benefit and burden of a lease would be automatically transferred to the purchaser of the freehold land and the benefit of lease income would pass to the purchaser as the new owner.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What common rights, interests and burdens can be created or attach over real estate and how are these protected?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Common rights, interests and burdens that are created over land in TCI include:<\/p>\n<ol>\n<li>easements which are rights to use neighbouring land, in particular ways;<\/li>\n<li>restrictive agreements, which contain restrictions which can be positive in nature, mandating the proprietor to perform certain acts over the property, or negative in nature, mandating the proprietor not to perform certain acts on the property.<\/li>\n<li>restrictions which limit the way in which a proprietor can deal with their land.<\/li>\n<\/ol>\n<p>These rights and burdens are protected by being registered with the Land Registry and are placed on the land register for the parcel(s) of land in question. Restrictive agreements that are negative \u2018run with the land\u2019. Where a restrictive agreement contains obligations which are positive in nature, such obligations do not \u2018run with the land\u2019 and (in addition to the restrictive agreement being registered with the Land Registry) need further protection by the registration of a restriction on the title to the property in favour of the beneficiary of the positive obligations which typically prevents registration of any dispositions of the relevant land without a certificate being provided by the beneficiary of the positive obligations which confirms that all obligations have been met and that any purchaser of the land (from time to time) has covenanted by deed to comply with the positive obligations.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are split legal and beneficial ownership of real estate (i.e. trust structures) recognised?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The legal and beneficial ownership of land can be split and held in separate names. For instance, land can be held legally by the trustee of a trust for the benefit of the trust\u2019s beneficiaries. In this case, the trustee would be registered as the proprietor of the land with their name appearing on the land register as holding the land as trustee.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is public disclosure of the ultimate beneficial owners of real estate required?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Where land is held by trustees or companies, the ultimate beneficial owners are not registered with Land Registry. This means that it is not possible to search with the Land Registry for ultimate beneficial owners of land. A Land Registry search will only reveal the legal owner(s) of land.<\/p>\n<p>&nbsp;<\/p>\n<p>The beneficial ownership of TCI companies is kept by the Companies Registry in secured files which are not available to the general public. Prior to 31st July 2025, the TCI Register of Beneficial Owners was only capable of being searched at the request of the TCI police force, Anti-Money Laundering Committee, Financial Intelligence Agency, and other designated statutory bodies. However, from 31st July 2025, permitted disclosures were extended to include additional TCI regulators, and foreign competent authorities.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the main taxes associated with real estate ownership and transfer of real estate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Stamp duty is paid on the transfer of land, the transfer of shares in a landholding company, and the grant of a new lease.<\/p>\n<p>Stamp duty rates are as follows:<\/p>\n<ul>\n<li>For transfer of land in Providenciales &#8211;<br \/>\n6.5% on purchases between $25,000 and $250,000<br \/>\n8% on purchases between $250,000 and $500,000<br \/>\n10% on purchases over $500,000<\/li>\n<li>For the transfer of land in other islands \u2013<br \/>\n5% on purchases between $25,000 and $100,000<br \/>\n6.5% on purchases over $100,000.<\/li>\n<li>For the transfer of shares in a landholding company \u2013<br \/>\nA\/B x C x 8% where A is the value or number of shares being transferred, B is the value or number of issued shares, and C is the fair market value of the land owned by the company in question.<\/li>\n<\/ul>\n<p>For the grant of a new lease \u2013<\/p>\n<ul>\n<li>Where the term is not defined or uncertain \u2013<br \/>\n$50 where the annual average rent exceeds $2,000 but does not exceed $5,000, and<br \/>\n1% on the annual average rent that exceeds $5,000.<\/li>\n<li>Where the term does not exceed 7 years \u2013<br \/>\n$50 where the annual average rent exceeds $2,000 but does not exceed $5,000, and<br \/>\n1% on the annual average rent that exceeds $5,000.<\/li>\n<li>Where the term exceeds 7 years but does not exceed 35 years \u2013<br \/>\n$2 where the annual average rent does not exceed $100<br \/>\n$10 where the annual average rent exceeds $100 but does not exceed $500<br \/>\n$40 where the annual average rent exceeds $500 but does not exceed $2,000<br \/>\n$100 where the annual average rent exceeds $2,000 but does not exceed $5,000, and<br \/>\n2% on the annual average rent that exceeds $5,000.<\/li>\n<li>Where the term specified exceeds 35 years-<br \/>\n$8 where the annual average rent does not exceed $100<br \/>\n$40 where the annual average rent exceeds $100 but does not exceed $500<br \/>\n$160 where the annual average rent exceeds $500 but does not exceed $2,000<br \/>\n$400 where the annual average rent exceeds $2,000 but does not exceed $5,000, and<br \/>\n8% on the annual average rent that exceeds $5,000.<\/li>\n<\/ul>\n<p>There are no other property taxes paid after the transfer of land.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are common terms of commercial leases and are there regulatory controls on the terms of leases?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The lease term will be agreed between the parties as well as the rent and rent review terms which can be negotiated. Rent is usually paid monthly in advance and security deposits are common.<\/p>\n<p>Insurance of the main structure, walls, foundations, and roof of a building are typically retained by and are the responsibility of the landlord, and so any structural repairs will usually also fall under the landlord\u2019s responsibility. The landlord\u2019s costs associated with insurance and repairs that the landlord procures or undertakes would usually be recovered from the tenant. The tenant is typically responsible for obtaining insurance over the contents of the leased premises and maintaining and repairing the interior of the premises.<\/p>\n<p>Leases will specify terms around renewal, termination and required notice.<\/p>\n<p>There are a number of terms implied into leases on the part of both landlord and tenant by sections 52 and 53 of the Registered Land Ordinance. These terms can be modified or completely excluded in the lease agreement.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What remedies are commonly available for landlords in the event of a tenant breach of a commercial lease?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Forfeiture is available to landlords after a tenant breaches a commercial lease. A landlord can forfeit a lease upon any breach of a tenant covenant. This right is exercised by a landlord entering upon and taking possession of the property but may also be enforced through court action.<\/p>\n<p>To exercise the right of forfeiture, a landlord must first serve notice on the tenant specifying the particular breach and requiring the tenant to remedy the breach, if possible, and within a specific time period. Where the breach is other than non-payment of rent, then the notice must require compensation from the tenant for the breach committed.<\/p>\n<p>Tenants may upon application with the courts, seek relief from forfeiture.<\/p>\n<p>Where the breach is non-payment of rent, a landlord can also sue a tenant as a creditor for the recovery of rent monies due.<\/p>\n<p>The common law remedy of damages is also available to a landlord on the breach of a tenant covenant. Damages may be sought during or after the term of the lease. An award of damages would generally seek to put the landlord in the position it would have been in had the tenant covenants in the lease been performed.<\/p>\n<p>For breaches of repair covenants, if the lease so provides, landlords may be able to enter upon the property to carry out the necessary repairs and recover the cost of doing so from the tenant as a debt.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How are use, planning and zoning restrictions on real estate regulated?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Planning Department is responsible for regulating the use and development of property. Under the Physical Planning Act (PPA), development and building permission is required for all development of land. Development is defined in the PPA as the carrying out of building, engineering, mining or other operations in, on, over or under any land making a material change in the use of any building or land.<\/p>\n<p>The TCI Building Manual and National Physical Development Plan regulate zoning, and any planning permissions requested from the Planning Department are considered in line with these policy documents.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Who can be liable for environmental contamination on real estate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Environmental issues are not commonly addressed in sale and purchase agreements (as the main industry in TCI is luxury tourism, and therefore environmental issues are generally not a material cause for concern in real estate transactions).<\/p>\n<p>The Public and Environmental Health Act imposes a number of fines for the contamination of water, improper disposal and storage of waste, and where waste contains hazardous substances or creates an environmental hazard. These fines are imposed on the person found to be in contravention of the Act.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are buildings legally required to have their energy performance assessed and in what (if any) situations do minimum energy performance levels need to be met?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>This is not common in TCI.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is expropriation of real estate possible?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Land can be compulsorily acquired by the TCI Government if the Governor considers that the particular land is needed for a public purpose and a declaration to this effect is published in the Gazette including certain information prescribed by the Land Acquisition Act. Notice must be served on the occupier of the land, if any, and any interested parties.<\/p>\n<p>An interested party may appeal the decision to acquire the land to the Court on the grounds that the acquisition of the land is not necessary for the intended purpose, or there is alternative land that can be used for the intended purpose without the need for the compulsory acquisition.<\/p>\n<p>If land is compulsorily acquired there are statutory provisions for the payment of compensation, which is usually paid at the land\u2019s market value.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is it possible to create mortgages over real estate and how are these protected and enforced?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Mortgages can be created over real estate as a form of security. Mortgages are protected by the charge instrument being registered with Land Registry as an incumbrance on the title to the charged property.<\/p>\n<p>If there is a default in repayment of the loan (which the mortgage provides security for) for one month, the chargee may serve a notice to pay on the chargor. If the default continues for 3 further months, the chargee may appoint a receiver over the charged property or sell the property<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there material registration costs associated with the creation of mortgages over real estate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>There is a registration fee of $50 to register a charge at Land Registry and stamp duty is paid at 1% of the secured amount. There is a cap of $50,000 on the stamp duty payable for security instruments.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is it possible to create a trust structure for mortgage security over real estate?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>This is not common in TCI.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\r\n<div class=\"word-count-hidden\" style=\"display:none;\">Estimated word count: <span class=\"word-count\">2978<\/span><\/div>\r\n\r\n\t\t\t<\/ol>\r\n\r\n<script type=\"text\/javascript\" src=\"\/wp-content\/themes\/twentyseventeen\/src\/jquery\/components\/filter-guides.js\" async><\/script><\/div>"}},"_links":{"self":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide\/120628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide"}],"about":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/types\/comparative_guide"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/media?parent=120628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}