The report answers the following questions:
1. Is perpetual fee simple ownership of real property permitted? If not, what are the principal forms of ownership, or other principal form of ownership, of real property?
2. What instruments are used to convey fee simple ownership, or other principal form of ownership, of real estate?
3. How in this jurisdiction is the ownership of real property recorded or searched? Who generally performs the search?
4. What assurances of ownership are available to purchasers of real property (e.g., title insurance or title opinions)? What is the cost of obtaining such assurances?
5. What are the most common forms of investment vehicles? What are the most common entities employed to own investment real estate in a tax efficient manner?
6. Has this jurisdiction adopted, or is it considering, legislation permitting the creation of real estate investment trusts or similar entities?
7. What state or local transfer, stamp or similar taxes are levied generally on sellers or buyers upon the direct transfer of real estate?
8. What state or local transfer, stamp or similar taxes are levied generally on sellers or buyers upon the transfer of interests in entities which own real estate?
9. How significant is local regulation and taxation of real estate? How significant is the variation of real estate law among political subdivisions of this jurisdiction?
10. Must ultimate beneficial owners of entities which own real estate be disclosed as a matter of public record?
Autores y editores
F.J. & G. De Saram
Lex Mundi is the world’s leading network of independent law firms delivering consistent, high-quality advice that is critical to solving complex cross-border challenges.