BELIZE STRATA DEVELOPMENTS (CONDOMINUM TITLES)
The Strata Titles Registration Act, Chapter196, of the Laws of Belize governs the issuance of titles to condominiums in Belize. Essentially, this act enables developers to construct condominium developments in Belize and to issue freehold title to each unit created in those Developments.
Condominium structures in the Caribbean tend not to be high rise, multistory edifices used by local residents as their principal home, but relatively small two to four storey buildings sited near the sea, used by vacationing foreign residents. The concept is intended to incorporate the economic advantage of co-operative apartment living with economic advantages of home ownership. These strata developments are most commonly found in the island of San Pedro Ambergris Caye, Hopkins, and Placencia.
Upon registration of a Strata Application, the titles of the various units are issued to the Developer in its name. Thereafter, every individual who purchases a unit automatically becomes a member of the Corporation (commonly known in the United States as the “Homeowner’s Association”). The Corporation is then seized with the power and duty to manage, maintain and upkeep the common areas of the Development pursuant to the articles in the registered By-Laws.
Our services in respect to Strata Developments (Condominium Projects) in Belize include but are not limited to the following:
- Preparation of Legal Documentation required for the registration of a Strata Development (Plan) both for stage developments and single developments;
- Application to combine titles in order to apply for a Strata Development (if necessary);
- Preparation of purchase agreements;
- Preparation of rental agreements;
- Preparation of Management Agreements (if necessary);
- Revision of By-Laws and restrictions;
- Opinions for both Developers and the Corporations;
- Registration of Liens for Corporations;
- Collection of outstanding maintenance fees;
- Mediations Services for owners;
We act for several Strata Corporations already formed in Belize and have been providing them with legal advice regarding their respective by-laws, and meetings.