A Transport is a title document showing ownership of property and originals are kept at the Deeds Registry. All mortgages on the property are marked on the face of the Transport.
The sale, gift or transfer of ownership of a Transport is passed before the Court and requires the services of an Attorney at Law who prepares, signs and files the necessary documents.
Documents required to transfer Transport, Lease or Certificate of Title by sale of gift
1. Agreement of sale and purchase signed by the Vendor and Purchaser along with two subscribing witnesses with the relevant value revenue stamps affixed.
2. Original Transport document or Lost Grosse application.
3. Instruction to Advertise
4. Affidavit of Purchaser(s) and Vendors(s)
5. A valid form of Identification for Vendor and Purchaser residing in Guyana and valid passport page with signature and photo for persons residing overseas.
6. TIN from GRA is required for both Vendor and Purchaser.
7. To obtain Valuation of property from the Government Valuation Officer at Camp Street, Georgetown
8. Vendor to obtain Certificate of Compliance from the Guyana Revenue Authority (GRA) stating that the owner’s taxes have been paid up to date (can be done by Vendor in person, their attorney or Tax Consultant). All Income and Property tax returns and payment of all taxes for the last eight years.
s9. Vendor to obtain Certificate of Compliance from the Mayor and City Council Office, Georgetown or the appropriate District Village Office stating that rates and taxes for the property have been paid up to date.
10. Power of Attorney if parties are out of Guyana or unable to personally represent themselves. If a power is to be executed abroad, this can be done at any Guyana Consulate/High Commission office or by any Notary Public. If done before a Notary Public, an Affidavit of Subscribing Witness must be executed. (Power of Attorney can be prepared in Guyana)
11. If sale is from deceased estate “copy of Probate / letters of administration / deceased’s TIN
12.Mortgage cancelation with relevant documents.
The fees and charges payable on the passing of Transport or the Transfer of Title to Land are:
•Registrar’s fees and Duty to the Deeds Registry – 2.5% of the sale price or value of the property; which comprise 2% for stamp duties and .5% for conveyancing, usually agreed to be shared equally by Vendor and Purchaser.
•Fee for conveyancing to Attorney at Law (excluding agreement of sale) – 1% of the value or sale price of the property. Parties may retain their own Attorney at Law to act in their interest.
•Taxes to the Guyana Revenue Authority (GRA) on sales – Capital Gains Tax of 20% of the profit between the value of the property as at 1991 and its current market value, exclusive of approved charges.
Mayor and City Council Certificate of Compliance fees- $10,000.
•Commission fee to the Real Estate Agent (if retained by Vendor) – 3% of the purchase price.
Time to transfer
- Advertised in the Official Gazette – Two weeks
- Passing and Issuing of new transport- Three weeks