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Joined: Oct 2001
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Originally Posted by future-expat
So are you saying that some one should just ignore the multiple stories of recent land fraud and buy anyway? That would be supremely stupid, and no investor worth their salt is going to take that risk. At best if this continues to make headlines, you'll continue to get shady businessmen and women who are looking to exploit the corruption, making things worse than they are already. If there is a fraud problem in the Lands Dept (and its really starting to look like there is) it needs to be addressed. You can overlook the exploitation of foreigners, like most people do here, but its not going to go for much longer before the market here is ruined for the next five years or so. I say this as a person that loves it here and takes my "gringo discount" in stride. You can nickel and dime people all day and they'll overlook it, but start screwing with real money and investors will flee.


Of course I am not saying to buy bad land with bad title. I am saying now and always have done - hire a professional and have them earn their keep.

Be aware that in Belize (as elsewhere - take a look at Fox news!) all the national news papers and broadcast venues have strong political agendas. Read with caution,knowing that usually the aim of the article is not to inform but rather to make somebody look bad, or to say that somebody else was blameless.

Joined: Jan 2003
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Alex Nunez got a loan from Belize Bank against the land so "Perhaps a safe way to buy is to get a mortgage from a Belizean bank." doesn't really fly.

Joined: Dec 2006
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You right, I guess that theory is shot down!
I'm sure we're to hear more details later but for now, Simion you seem to be correct.
I would not like to be the banks attorney that approved that title!


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Joined: Aug 2008
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I find this whole subject amusing in that it even makes "the news" in Belize. In the Chicago area, forged deeds and fraudulent transfers happen every day so it's not even newsworthy and people are still buying real estate. It's always advisable to get title insurance too, which is routinely done up in the states just because of this kind of thing although I hear that it could be a waste of money in Belize because this type of thing doesn't happen often at all.

Joined: Mar 2001
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Title insurance is not available in Belize. Possibly because insurance companies consider this type of thing happening too often and too great a risk.

Joined: May 2000
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Actually the reason why title insurance isn't usually recommended is because:
a) the title insurance policy has so many exclusions that you probably wouldn't be able to cash in on it anyway
b) the government lands registry is the issuing agency for all titles in the nation.

Unfortunately, as with all systems, where there is a will there is a way for criminals to take advantage of the system.

Exactly what do you expect the government lands registry office to do if a transfer document is presented to the office that shows that the buyer and the seller appeared before a notary and signed and acknowledged the transfer? How is the registry supposed to anticipate that somebody forged somebody else's signature and that additionally the notary that witnessed the forged signatures was also in on the scam. This is fraud. The government lands registry is not fraud proof.

Joined: Mar 2001
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I think it is a good thing this is in the news. I doubt if the people defrauded think it amusimg and maybe it will help others to be more cautious.
And, there must be a reason for all those exclusions.

Last edited by bywarren; 07/14/11 03:25 PM.
Joined: May 2000
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I do know that you can get title insurance through Stewart Title or First American Title. However you must be sure you read and understand the small print regarding the exclusions.

If the title qualifies for insurance then you can certainly get it.

I am not sure about time shares, fractional shares or corporate share type ownership if an individual title for each unit has not been issued.

Joined: Jun 2011
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Like how most things progress here in Belize, these recent happenings will most likely prompt increased identification procedures during the land transfer process.

Belize and Ambergris Caye will continue to do just fine.

Joined: May 2000
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Last time I sent a photo ID into Belmopan I understand the civil servant that looked at it turned into stone.

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