About Buying Property
in the Turks & Caicos Islands

Purchase and Sale Agreement

Individuals or Company Directors purchasing property sign an Agreement of Purchase and Sale, an approved document filed with the Registrar within one month of the date of execution. The Purchase and Sale Agreement, describes the property, defines price and terms, and lists other conditions particular to the transaction. Facsimile signatures are acceptable and it is not necessary for either party to be present for closing as your Attorney can represent you.

Transfer Forms are completed by Buyer and Seller and witnessed by a Notary or Justice of the Peace in the Turks & Caicos Islands or in their country of residence. Original signatures are required along with complete proper names, as they will appear in the Register. This is the primary document required to complete the transfer of property.

Original Land Certificates accompany the Transfer Forms and are presented to the Land Registry. The Registrar of Land handles Land registration in the Turks & Caicos Island, Turks Island Government Registration of Land Title is final and the Title is absolute. Deposits and proceeds from sale are normally held in trust until the transfer is registered. Once registration takes place, proceeds of the sale are released to the Seller and real estate commission to the Agent.

A Land Certificate is issued as evidence of the title. Normally the Land Certificate will remain in the Land Registry. A copy of the Land Register Certificate will show current ownership and any liens or charges on a property.

In cases where the full purchase price is not paid, a Charge of Mortgage is executed, the title of the land is transferred, but the Charges shows in the Register as an encumbrance against the title to secure payment of the balance owed. Removal of the Charges must be made by the person to whom the money is payable.