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Joined: Jan 2008
Posts: 31
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Hello:


If I do not live in Belize and want to obtain a private loan from a friend using a piece of property that is in my name and on Ambergris Caye then how do I do this?


I would like to be steered to some forms that I can download and use that would assure my friend that he can take title to my property if I fail to pay him back for the loan he extends to me.


I would like to get this money for someone who is in need and whom I would like to help at this time. I have a very wealthy friend who has a good heart and I am sure he would give me a loan if I asked him. But I have my heart set on obtaining some forms so I can assure him he can have the property if I do not pay him back.


I am wondering if I have to go through a law firm in Belize to do this or if there are some other forms I can either write up or download that would give my friend the authority to get the title to my property if I fail to pay him back.


Please, I need some objective advice and preferably not advice from a law firm in Belize since they will tell me that I have to go through them I am sure.


FEEDthePOOR


P.S. Remember, I am living in Canada and my friend is in Canada but the land is in Belize.


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Joined: Jan 2008
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If you have the land free and clear / land registered in your name with the government, then all you will need to do is file a caution agreement on the property. The caution agreement will stipulate that your lending friend has an interest in the property. Once you pay him back you have the caution agreement removed from the property.

Claudio Azueta is a paralegal in San Pedro at South Wind properties. He can handle this for you with little cost.

Thomas Blackledge


Future full time Belizeans
Tommy & Sonia Blackledge
Magee, MS 601-849-1918
Joined: May 2000
Posts: 7,051
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Cautions only work on one title system. If the land is owned by any document other than a Land Certificate (1 page) then the only way for your friend to be fully protected is by entering into a mortgage agreement which is registered at the lands department.

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That's what I ment by "land free and clear".


Future full time Belizeans
Tommy & Sonia Blackledge
Magee, MS 601-849-1918
Joined: Jan 2008
Posts: 770
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"Free" = free of any leins or claims. "Clear" = clear title in hand.


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Tommy & Sonia Blackledge
Magee, MS 601-849-1918
Joined: Jul 2004
Posts: 203
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I don't know about Belize, but that's not what Free and Clear Title means in the common law systems I'm aware of. Feed the Poor, you can either pay a lawyer down in Belize to do it, or do it yourself based on all the inconsistent advice here. Maybe you, your friend, or both of you will get messed up in the process--but hey, at least you saved a fee.

Joined: Nov 2002
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I'm not aware of any forms you can download, perhaps. But, it is definitely something you can legally arrange, protecting all parties, with a lawyer or para legal service. In my limited experience the para legals seem to be a bit more efficient. IMHO

SIN


Check out my site: www.ambergriscayerealestate.net
Joined: Jan 2008
Posts: 31
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I want to thank everyone who contributed with your valuable advice,especially Thomas who seems to have pinpointed someone who is reasonably economical.

Charity extended to all, FEEDthePOOR


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He who is there own lawyer has a fool as a client.Do it right, sleep at night..Two sayings for keeping friends,friends when giving money to them!!!!


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