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Support for Form RL 18: Severance of Joint Proprietorship

 

Form Required Forms

RL 18 Severance of Joint Proprietorship
(PDF, 84 Kb, 2 pages)

Document Submission Log
(PDF, 184 Kb, 2 pages)

Use this form:

When two (or more) persons own a property as joint proprietors and they wish to sever (split) the ownership into distinct shares and subsequently hold the property as proprietors in common (ie.  with each person holding a fractional share of the property). 


Submission Requirements

In submitting this form you should enclose the following (where applicable):

  • Completed submission record (see below), ensuring checklist to the rear of the form is completed
  • Removal of any Restrictions or Cautions (if required), or consent of cautioner 

Once signed the form should be submitted to the Lands & Survey Department within 45 days of first signature, unless signed outside of the Cayman Islands , to avoid the accrual of late submission penalties.


Fees

Type Registration Stamp Duty
Standard Transaction CI $50
(US $60.97)

Nil


Forms (Mandatory)

RL Form must be completed in Duplex format. If you do not have a Duplex Printer, print page 1, reinsert the page to the paper tray, and print page 2.

When completing the form ensure that:

  • The required ownership arrangements are clearly stated in fractional format (ie. 3/8ths share), and that the sum (total) of the fractions is 1.
  • There are no more than 10 separate fractional owners as a result of the transaction (prohibited under the Registered Land Law). 
  • Full names are stated (or as recorded on the existing Register), with signatures witnessed by a Justice of the Peace, Notary Public or member of authorised Land Registry staff, and correctly dated. Notary Public’s whose commissions do not expire must state so on the Registration Form.  
  • Full address is stated, including postal / zip code
  • Amendments are initialed by all parties. The use of correction fluid is not permitted