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#348506 - 08/17/09 10:33 AM Obtaining a Private Loan on Land I Own in Belize  
Joined: Apr 2007
Posts: 14
AlexB Offline
AlexB  Offline
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? This was a question asked by someone on this forum many months ago. I copied and pasted the only two posts below which had some advice worth considering, since I thought I could maybe have a need for this in the future also.

I would also like to be steered to some forms that I can download or obtain from someone qualified 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 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.

Below is some advice the other person was given who asked about this many months ago. Can anyone add valuable information to this?


Opinion A

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.


Opinion B

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.

Those who forget the past are condemned to repeat it

#348507 - 08/17/09 10:34 AM Re: Obtaining a Private Loan on Land I Own in Belize [Re: AlexB]  
Joined: Feb 2007
Posts: 1,740
deadserious Offline
deadserious  Offline
It sounds like you answer your own question in the post.

Now back to your regularly scheduled drivel...
#348508 - 08/17/09 10:38 AM Re: Obtaining a Private Loan on Land I Own in Belize [Re: deadserious]  
Joined: Apr 2007
Posts: 14
AlexB Offline
AlexB  Offline
There are two different answers in the post. I would like clarification from some other people so I can select the correct course of action.


Those who forget the past are condemned to repeat it

#348510 - 08/17/09 10:51 AM Re: Obtaining a Private Loan on Land I Own in Belize [Re: AlexB]  
Joined: Oct 2000
Posts: 1,603
iluvbelize Offline
iluvbelize  Offline
well, do you own the property outright (no lien or caution)? the answer will depend upon the ownership interest status. i recommend claudio as well - he's a realtor and is very familiar with belize real estate law. i would never rely solely upon a message board for business or legal advice.

#348511 - 08/17/09 10:58 AM Re: Obtaining a Private Loan on Land I Own in Belize [Re: iluvbelize]  
Joined: Mar 2001
Posts: 2,636
bywarren Offline
bywarren  Offline
Objective advice = don't borrow money from friends and don't take legal advice from a message board.

#348520 - 08/17/09 12:37 PM Re: Obtaining a Private Loan on Land I Own in Beli [Re: bywarren]  
Joined: Oct 2006
Posts: 597
ron Offline
ron  Offline
I asked someone on the street and they told me........ Isn't that the best way to get good solid legal advice?

#348521 - 08/17/09 12:44 PM Re: Obtaining a Private Loan on Land I Own in Beli [Re: ron]  
Joined: Oct 2001
Posts: 4,672
LaurieMar Offline
LaurieMar  Offline
Not unless they are an attorney and then, too, watch out! smile

#348523 - 08/17/09 12:51 PM Re: Obtaining a Private Loan on Land I Own in Beli [Re: ron]  
Joined: Nov 2003
Posts: 475
TravelinMan1 Offline
TravelinMan1  Offline
The above choices are not choices. It depends on the type of title that you have? Is it a land certificate or other.

The caution is not the proper lien for reregistered land it should be a charge.

You can't do this without the help of at least a para legal. Contact Alberto Villanueva at Belize Caye Investments 226-4540. He can do all the paperwork for you and make sure everything gets filed.

I repeat you cannot protect your friend without the assistance of someone who knows what they are doing and based on the questions you are asking that would not be you.

This message board is great if you want to know where the best pizza in town is but not for these types of legal issues. Your question should be who should a speak to and Claudio or Alberto are both people that can help you.

#348556 - 08/17/09 03:00 PM Re: Obtaining a Private Loan on Land I Own in Beli [Re: TravelinMan1]  
Joined: Jan 2008
Posts: 609
Tim Callanan Offline
Tim Callanan  Offline
Alex, I agree with TravelinMan1.You mayhave an attorney you feel more comfortable than fine,it will be more $$.Be a friend,have your property appraised before you both enter into this agreement. Friend don't come cheap!

#348599 - 08/17/09 08:56 PM Re: Obtaining a Private Loan on Land I Own in Beli [Re: Tim Callanan]  
Joined: Jul 2008
Posts: 1,206
SnoopysMom Offline
SnoopysMom  Offline
I think that the Board is a great venue to share experiences and Ideas about property and avenues to get loans. The banks are offering high interest rates and we are looking into moving a great deal of ours here. It would seem that this would be a great benefit for Belize to have more funding available for loans. Any downsides that we have not considered?

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