Chamber supports Land Title Registration Act
The real estate division of the Bermuda Chamber of Commerce has welcomed the implementation of the Land Title Registration Act.
The Land Title and Registration Office is responsible for registering land and property ownership in Bermuda. Its duty is to record any legal right or interest affecting parcels of land and to provide an up-to-date report of the evidence of land ownership.
Individuals, businesses or organisations who become land owners or own interests in land must apply to the LTRO to: register unregistered land, register a new owner of a registered property following a sale; and register an interest affecting registered land, such as a mortgage, lease or a right of way.
Once the information is recorded, the LTRO will provide an accurate, accessible and comprehensive record about land and property ownership and any interests affecting land as well as provide land owners with a land title certificate/registered title.
In a statement, the Chamber said: “For those carrying out property transactions, this new process will not only save time, but will also decrease legal costs.”
It noted that Lieutenant-Colonel David Burch, Minister of Public Works, said: “Once the land is guaranteed, the land/property cannot be lost or stolen.”
In a message to the public, the Chamber’s real estate division said its real estate members hold themselves “to a high standard; they are guided by provisions set out in the Chamber Handbook for Real Estate as well as being fully compliant with the Real Estate Licensing Act. All agents have police clearance certificates and are committed to serve their customers and clients fairly”.
Any member of the public with concerns about their dealings with members of the Chamber’s real estate division should contact the division’s chairperson at email@example.com.
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