Property peril insurance is a cornerstone of financial security, protecting your property from unforeseen disasters. So much so, that Strata properties must have insurance, and if you purchased with a mortgage, it is likely that your mortgage provider will also require you to take out insurance to protect your property. This insurance is a two-way […]
Vendor’s Mortgage: A Fast Track to Ownership or a Bumpy Road? A Vendor’s mortgage, also known as seller financing, or a vendor take-back mortgage, could present an opportunity to secure property in situations where a traditional mortgage may be difficult to maintain. In this arrangement, the seller essentially becomes a lender, financing part of the […]
With Jamaica and other markets currently experiencing a higher interest rate environment, manypersons are of the view that now may not be a good time to buy real estate with a mortgage. On thecontrary, because rates are higher than we have been used to, this could present an opportunity for adiscerning buyer to seek out […]
In the first part of this two-part series, we discussed that there are different legal regimes around the prohibition of Short-term Rentals (“STRs”), and we zoned in on the prohibition of STRs in strata communities (communities governed by the Registration (Strata Titles) Act). This second part, will now focus on the prohibition of STRs in […]
Part 1- No short-term stays in stratas? There has been a frenzy of media coverage on the issue of Airbnbs recently, from the Minister of Tourism indicating that the sector is ripe for regulation, to disputes in the Supreme Court of Jamaica, surrounding whether Airbnbs can be allowed in certain gated communities. As far as […]
If you are selling, or planning to sell your property in Jamaica, arguably, the two most important things for you to do are (1) provide good title to the property, and (2) provide good value in the property. Here is our quick guide to doing so. Assuming your property is registered land under the Registration […]
Thinking about making a real estate investment in Jamaica? Here are some quick, key steps and guidelines for buying Jamaican Real Estate. Have a budget and know your source of funds. If you are purchasing with cash, great! If you plan to buy with a mortgage, you should get pre-qualified by a local financial institution […]
The Real Estate Case You Need to Know About In the recent decision of the Court of Appeal (“COA”), Caribbean Real Estate Investment Fund v Valrine King [2023] JMCA Civ 18, the COA had to review the Supreme Court judgment in favour of Mrs. King that a joint venture agreement (“JV Agreement”) between her and […]
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