A Strata is a type of real estate development, which, under the Registration (Strata Titles) Act (the “Act”), is owned and administered by a Strata Corporation (the “Corporation”). A Strata is a body corporate made up of all the owners/proprietors in the development, which is capable of being sued, and can sue in its own […]
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 […]
Evicting a tenant is a serious, and often contentious matter, that requires careful consideration of legal obligations and responsibilities. In Jamaica, landlords must adhere to specific regulations governing the eviction process, to ensure legality of the actions. This article seeks to provide a guide on the eviction process. 1. Know the law: Before entering into […]
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 […]
Express covenants refer to explicitly written terms of an agreement between two parties and can be contrasted with implied covenants that are not written in an agreement but are implied by law. Under the principle of freedom of contract, there is, in theory, an endless array of terms that could be written into a lease […]
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 […]
The typical Time of the Essence clause in an agreement for sale of property may state as follows:- “Time shall be of the essence of this Agreement as it relates to payment of the purchase price…or other sums payable by the Purchaser … on the failure of the Purchaser on the due date to pay […]
There has been much said on the doctrine of Adverse Possession from the perspective of the person who is asserting or applying for adverse possession, and not necessarily from that of the registered proprietor or landowner. The landowners who have been at the receiving end of this doctrine, have always spoken to the “should-a, could-a, […]
There has been an explosion in high rise apartment buildings and townhome complexes, not only in the corporate area, but throughout the country. The increased popularity of apartment living has also spawned an increase in disputes and issues associated with this type of communal living. Owners and potential buyers into these developments can look to […]
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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