Frequently Asked Questions
This is where the property in question is entirely purchased with complete rights on payment of full consideration.
For Real Estate Transactions in Trinidad & Tobago, the Industry Standard for Out Right Purchase is a 10% down payment with 90 days to complete the balance.
The FIU of Trinidad and Tobago was established to implement the anti-money laundering and combatting the financing of terrorism (AML/CFT) policies of the Financial Action Task Force (FATF) – an intergovernmental organization set up by the Group of Seven industrialized countries. Rio Investment House Ltd is a current registered supervised entity of FIUTT.
There are multiple ways to book a viewing with us. Via:
"Book Viewings" tab on our website
Telephone: 1-868-288-5708
E-mail: admin@rioihl.com
1. Book a viewing with us to satisfy your interest in the property.
2. After viewing, send us an e-mail indicating your preferred lot(s).
3. We will request the following documents via email for approval:
-2 forms of ID
-Job Letter (No older than 3 months)
-Pay Slip
-Bank statements (most recent 6 months)
-2 Reference Letters
-Utility Bill
-BIR Number for Deed Processing
The Deed number of the lot will be forwarded so you can conduct your Title Search if so desired.
4. Documents will be forwarded to management for approval.
5. Once you are approved, an appointment will be made to sign your sales agreement at our office.
A land Title Search will indicate the history of ownership of the property and verify whether the property is subject to any (and, if so, what) encumbrances. On average such a search takes between two (2) to three (3) weeks and can have variable costs if a private Title Clerk Hired. It can range anywhere between $1000- $3000
Land title searches can be done through the Land Registry Office within the Ministry of Attorney General and Legal Affairs. The Trinidad office is open Monday to Friday from 8:30 am to 3 pm, Phone: 223-2452
You also have the option of hiring a private Title Clerk who is certified to use the Registrar General’s system.
Fortunately, carrying out a land title search in Trinidad won’t put a strain on your budget. The cost differs depending on the type of searching being conducting, which is determined by the amount of information you have access to. Payments can be made in cash or via Linx and costs are as follows:
Specific Title Search- Price: TTD $5.00
Required Information: Deed number or the volume and folio numbers
General Title Search-Price: TTD $10.00
Required Information: Full name of the owner
NB: If you choose to secure the services of a private Title Clerk you will also need to account for their fees, which means the rate will be different from those listed above.
A Certificate of Title (CT) is simply the representation of the legal record showing land ownership. The CT will also include any interests and restrictions on the land.
You must pay Stamp Duty when buying real estate or a home, acquiring shares, seeking a mortgage, or conducting other financial transactions.
Stamp Duty is a tax that you must pay when carrying out certain transactions that require legal documents. Deeds of Conveyance, Deeds of Gift, Deeds of Mortgage, Release of Mortgage Loan, Release of Life Insurance Policies, Transfer of Shares, Deeds of Lease, Deed Polls, Bonds, and any other deeds, require “stamping”, which means you must pay duty.
The amount of stamp duty is usually a percentage of the value of the transaction you are undertaking.
The attorney or the company transacting the business usually prepares the documents that require stamping and will make payment on your behalf. The documents are presented to the Inland Revenue Division by the attorney or company for stamping together with the necessary fees. The documents are processed and stamped accordingly.